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Ipreo IPO Brief: May 2012

Ipreo IPO Brief: May 2012

  • Archives, Capital Markets, Equity
  • Market Updates
  • Americas

Deal volume was down 43% year-over-year in May, as the broader US public markets declined more than 6% and added only 12 fresh issuers to their ranks (the lowest monthly level since January). Given that one of these 12 was the gargantuan Facebook deal, however, May IPO proceeds reached $18.6 billion, nearly triple their year-ago level, and marked the first instance of a y/y increase in 11 months. The social network’s highly anticipated debut also put YTD US-based IPO proceeds ahead of where they were last year at this time. Despite the bump, after-market performance could be a more telling indicator with regards to equity capital market health; average offer/1-day returns are down for the second month in a row, from a peak of 20.5% in March.

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