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1、Global IPO trends: Q4 2017A busy 2017 with more mega-IPOs on the horizonGlobal IPO trends: Q4 2017 | Page 3Global IPO marketEverything is in place for an exceptional 2018“2017 will close with more IPOs than any year since 2007. With this great momentum IPO candidates are lining up for 2018. The outl
2、ook appears bright, driven by lower volatility across regions, high valuation levels and a renewed appetite for cross-border IPOs, particularly in the US, Hong Kong and London. A healthy global pipeline across a broad range of sectors and markets suggests IPO activity levels will be up and with more
3、 megadeals increasing the global proceeds in 2018.”Dr. Martin SteinbachEY Global and EMEIA IPO LeaderGlobal IPO trends: Q4 2017 | Page 4All values are US$ unless otherwise noted. | Q4 2017 and Q4 17 refer to the fourth quarter of 2017 and cover priced IPOs from 1 October to 1 December 2017 plus expe
4、cted IPOs by the end of December. YTD 2017 and 2017 refers to the full year of 2017 and covers priced IPOs from 1 January to 1 December 2017 plus expected IPOs by the end of December.Markets Highlights from the markets Global IPO activity for 2017 is the most active year since 2007 by deal number (1
5、,974 IPOs, which raised US$338.4b). Global IPO activity surged by number of deals and proceeds in 2017 with 1,624 IPOs raising US$188.8b, compared with 1,093 deals raising US$134.5b in 2016. Q4 2017 global activity levels would have been stronger but stalled due to weaker-than-expected activity leve
6、ls on Asia-Pacific exchanges. This was partly due to uncertainty around Chinas National Peoples Congress, changes in Hong Kong listing rules and the trend for smaller deals. Asia-Pacific still dominated global activity both by number of deals and proceeds in 2017, accounting for more than half (58%)
7、 of deal number and more than a third (39%) by proceeds. EMEIA exchanges saw the number of deals rise by 50% and capital raised was up 67%. Megadeals (with proceeds of more than US$1b) were up on 2016, increasing average deal sizes by 45% on the main markets. Americas share of global IPOs improved i
8、n 2017 by number of deals and proceeds. The region recorded eight megadeals and 28 IPOs with proceeds of more than US$500m, with cross-border deals accounting for 24% of US IPO activity, reflecting the resurgence of investor confidence, particularly in US exchanges. Greater China, US, India, Austral
9、ia, Japan and UK exchanges all turned in strong performances. Greater China contributed to 36% of global deal numbers. IPO activity was broadly based, indicating investor appetite for IPOs as a class. Industrials and technology were the most active sectors by deal number, with a strong showing from
10、consumer products. Whereas financial services led by proceeds, followed by technology and industrials. Financial sponsor-backed IPOs in 2017 saw a decline in terms of the proportion of global deal number. The proportion of cross-border IPOs increased in 2017 by deal number and proceeds, compared wit
11、h 2016.Global IPO marketActivity Q4 2017Stock exchangesby highest total proceeds New York (NYSE)$7.7b18 IPOsBombay (BSE) and SME$5.5b17 IPOsShanghai (SSE)$4.9b39 IPOsIPOslargest by proceeds BAWAG Group AG $2.0bFinancialsAustriaWiener Brse (Vienna) General Insurance Corp of India Ltd. $1.7bFinancials
12、IndiaBombay (BSE)Petrobras Distribuidora SA $1.6bEnergy BrazilSao Paulo (B3)Sectorsby highest number of IPOsIndustrials78 IPOs$6.2bTechnology70 IPOs$9.7bConsumer products51 IPOs$2.6bSources of IPOs2017All amounts in table are in US$23%5%72%Percentage of proceeds9.7%0.6%89.7%Percentage of IPOsFinanci
13、al sponsor-backed Former state-owned enterprises Non-financial sponsor-backed$0$1,000$2,000$3,000$4,000010,00020,00030,00040,0002013 2014 2015 2016 2017M&A activityNumber of M&A Deal value US$b28% 27%17%13%9.7%2% 1%1%1%0.6%70% 72% 82% 86% 89.7%2013 2014 2015 2016 2017$0$50$100$150$200$250$30005001,0
14、001,5002,0002013 2014 2015 2016 2017IPO activityNumber of IPOs Proceeds US$bFigures may not total 100% due to rounding2017Change on prior yearQ4 2017Change on prioryear quarter1,624IPOs globally409IPOs globally$188.8bproceeds$56.0bproceedsAll amounts in table are in US$11%49%40% 6%Global IPO trends:
15、 Q4 2017 | Page 5All values are US$ unless otherwise noted. | Q4 2017 and Q4 17 refer to the fourth quarter of 2017 and cover priced IPOs from 1 October to 1 December 2017 plus expected IPOs by the end of December. YTD 2017 and 2017 refers to the full year of 2017 and covers priced IPOs from 1 Janua
16、ry to 1 December 2017 plus expected IPOs by the end of December.Regional performance and trends31%25%16%12%13%27%30%31%29%29%42%45%53%59%58%20132014201520162017Regional share by number of IPOs46%38%19%17%27%20%31%36%28%34%34%31%45%54%39%20132014201520162017Regional share by proceedsGlobal IPO marketThe stronger-than-expected turnaround in economic activity in the Eurozone has boosted expectations for global economic growth. With China and the US
