May welcomed 17 IPOs for $4.4B in proceeds in the most competitive year-over-year monthly performance so far; Last year welcomed 20 May debuts, leaving this month down just 3 issues from the prior-year period. The Healthcare sector (8) accounted for nearly half of all deals, while the largest debut came from Tallgrass Energy GP ($1.4B). Although May saw a slight drop in terms of companies going public year-over-year, those that did make their debut saw an average first-day rise of 6.4%. Elsewhere, the current six-month backlog stands at 50 issuers, a decrease of 41.8% over the same time last year. On a sector basis, Healthcare unsurprisingly leads the way, with 15 issuers awaiting their debuts to the tune of $1.4B.