7 billion from 1,483 IPOs
, outperforming the previous year in terms of number of IPOs
and total proceeds by 47 per cent and 44 per cent, respectively.
activity was primarily driven by three IPOs
on the Saudi stock exchange (main market) valued at a total of $206.
to be heavily promoted by underwriters because it is their job to sell them to the investing public.
Mayur Pau, MENA IPO
Leader, EY, says, "IPOs
on the Tadawul and the Egyptian Exchange continue to attract strong demand, with offerings up to 11 times oversubscribed, highlighting positive investor sentiment in these markets in particular.
Saudi Arabia and Tunisia had the highest number of IPOs
with four each across the first half of the year,
During the past two decades, there has been a dramatic change in IPO
activity around the world.
Our second major finding is that, when compared to first-time IPOs
, second-time IPOs
exhibit no significant difference in post-IPO
long-run abnormal stock and operating performances.
Last year's number of IPO
firms that saw higher initial market quotes than their respective IPO
prices decreased by 70 from the previous year to 89, slipping below 100 for first time in five years.
Looking at the secondary market, 51 of the 105 IPOs
of the first 10 months of 2007 were trading below their offering prices as of October 31.
Early indicators point to the continued emergence of the global IPO
Lane argued that "investor fatigue" is a factor in the current market, following a crush of IPOs
in prior years, and offered advice about where to take roadshows.
Investors have to do an incredible amount of homework on IPOs
, so unless you want to be a surrogate portfolio manager, IPOs
aren't the place to be" says Irv DeGraw, research director for WorldFinanceNet.
According to the announcement, the new IPO
Express gives investors and other IPO
stakeholders easier and faster access to more information about past, present, and future IPOs
John Hancock's policyholder share-value protection plan is the first real attempt to contribute a greater element of fairness to the pricing of demutualized companies' IPOs
Although the market for IPOs
has cooled recently, some offerings still post impressive first-day gains.