According to Renaissance Capital’s 2015 Annual Review of the Global IPO Market, a total of 310 IPOs were completed in 2015 raising $156.5 billion in proceeds. This is a 35% decrease from 2014’s figures, yet remains higher than activity in 2011, 2012 and 2013. The Asia-Pacific region dominated the market share, making up 44.7% of total proceeds and raising $70 billion. Europe came in second making up 35.3% and raising $55.3 billion, followed by North America which made up 17.5% and raised $27.3 billion.
As we have previously reported, the healthcare industry has dominated the U.S. IPO market, accounting for 46% of all U.S. IPOs. On the global markets, however, healthcare only made up 6.3% of total IPO proceeds. The financial sector continues to be the leader in global IPOs, and made up 35.5% of total proceeds in 2015 raising $55.6 billion.
The highest performing exchange in 2015 was the Hong Kong Exchange which accounted for 18.3% of all IPO proceeds, its highest numbers since 2010. The NYSE raised $16.6 billion, 10.6% of all proceeds and the NASDAQ raised $8.7 billion, 5.6% of all proceeds. As previously reported, U.S. IPOs on U.S. exchanges experienced a six year low in 2015.
Global IPOs produced a 33.2% average return this year although Renaissance notes that this figure is closer to 9.5% when excluding high performing A-share IPOs. The best performing IPOs came from the consumer and healthcare sectors, when excluding these A-share IPOs. Five U.S. IPOs made the list of the ten worst performing IPOs of the year.