The New York Stock Exchange (NYSE) extended its leadership as the premier venue for global capital raising with $119.4 billion in proceeds from 392 transactions in 2016, more than any other exchange in the world.
Despite muted global IPO activity this year, largely due to equity market volatility early in the year and uncertainty surrounding geopolitical events, the NYSE raised $13.1 billion from IPOs including the largest U.S. IPO of the year in which Chinese express delivery company ZTO Express raised $1.4 billion.
Other recent notable IPOs included Japanese messaging app developer LINE (NYSE:LN) which raised $1.1 billion, Titleist© owner Acushnet (NYSE:GOLF) and the largest biotech IPO of 2016, Myovant (NYSE:MYOV).
The first half of the year was highlighted by four IPOs in a single day in May, including US Foods (NYSE:USFD) which raised more than $1 billion, followed by Twilio (NYSE:TWLO), a cloud communications software company, in June.
“We’re proud to play such an important role in the growth of our clients and in supporting economic growth, demonstrating the unique role the NYSE holds at the center of the global capital markets,” said Tom Farley, NYSE Group President. “We were delighted to welcome some incredible entrepreneurs and business leaders, ranging from technology to healthcare and consumer sectors, as well as the largest IPOs. The fact that NYSE was chosen to list all of the last 25 IPOs of $700 million or more is a testament to NYSE’s proven market model that offers superior IPO execution and reduces price volatility by more than 30 percent during the most active markets.”
“As we look ahead, we are laser focused on serving and expanding our network of 2,400 listed companies. With so many innovative companies led by strong management teams looking to raise capital and grow by accessing public markets, we are optimistic about a strong start to 2017. And we are building on our growth in the technology and biotech sectors, while leading the energy, financial, healthcare and consumer sectors. We’re also investing in deepening relationships among NYSE-listed companies within our network by connecting them with their peers and engaging with policy leaders. As we look to the New Year we are excited to help our clients unlock more value.”