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Global IPOs remain resilient amid elevated uncertainty and market volatility
- Year-over-year (YOY), both the Americas and EMEIA regions recorded double-digit growth by both number and proceeds in the first three quarters
- Asia-Pacific’s Q3 rebound contributed to an 11% quarter-over-quarter (QOQ) increase in global IPO numbers, despite a 12% drop in proceeds
- IPO pipelines highlight EMEIA’s sector diversity and ongoing global interest in AI
LONDON, Sept. 26, 2024 /PRNewswire/ — Amid a global economic slowdown, market volatility, geopolitical shifts and monetary easing, the global IPO market in Q3 2024 has shown signs of cautious optimism. Despite a dip in year-over-year (YOY) volumes by 14% to 310 IPOs and proceeds by 35% to US$24.9b, Q3 did modestly outpace the first two quarters of 2024 in IPO launches.
Navigating through a complex economic and geopolitical landscape, marked by the start of a global interest rate easing cycle, Q3’s IPO activity has contended with heightened market volatility. Despite these challenges, the Americas and EMEIA demonstrated resilience in the first three quarters of 2024, with EMEIA’s IPO proceeds up by 45% compared to the same period last year, helping to mitigate the global market’s overall downturn. These findings are detailed in the EY Global IPO Trends Q3 2024 report.
The persistently lower private equity and venture capital (PE and VC) exit activity over recent years has created a growing backlog of portfolio companies poised for monetization. A resurgence in PE-backed mega IPOs and VC-backed unicorns is taking shape, as current valuation levels become more favorable for launching mature, high-value portfolio companies into the public market. In the first nine months of 2024, PE and VC-backed IPOs made up six of the top 10 global IPOs, accounting for over one-third of the total global IPO proceeds. In the Americas, these IPOs accounted for 52% of the total proceeds, underscoring a greater willingness among PE and VC firms to exit in the current IPO landscape.
Cross-border listings have also seen a significant uptick. In the first three quarters of this year, 77 companies chose to list abroad, up from 64 in the same period last year, a 20% YOY increase. Since 2023, foreign-domiciled issuers have represented approximately 52% of IPOs on US exchanges, reaching a 20-year high. Concurrently, with a contrasting stock market performance between the US and China this year, the market value gap between the two countries has reached a record high in Q3.
Americas and EMEIA rally as Asia-Pacific stabilizes
Year-to-date (YTD), the Americas and EMEIA have shown double-digit growth by both deal number and proceeds compared to the same period last year, despite a global reduction in public offerings owing to the Asia-Pacific’s IPO pause in the first half of the year. The US and India have notably maintained high levels of IPO activity, even during a typically quieter quarter. India launched more than 100 IPOs in Q3, marking its highest level of public offerings in a single quarter over two decades.
Asia-Pacific has made a notable turnaround in the third quarter. By overcoming earlier declines, the region has contributed to an 11% QOQ increase in global IPO numbers. This rebound, marked by increased activity in mainland China, Indonesia, Malaysia and South Korea, has injected confidence into the global market during a period of heightened uncertainty.
AI companies attract investor interest
Over the past two years, more than 60 artificial intelligence (AI) companies have gone public annually, with about half turning a profit. Approximately 50 AI companies are currently in IPO registration, demonstrating sustained investor interest in AI-driven innovations.
Q4 2024 IPO market outlook
The remainder of 2024 is expected to see the IPO market influenced by central bank policies, geopolitical developments and key election outcomes. Optimism is fueled by lower interest rates and easing inflation, which are likely to encourage new listings and a resurgence in sectors sensitive to borrowing costs. Strong performance in key markets such as the US, Europe and India is expected to support IPO activity. Cross-border listings should continue to thrive, and significant public debuts, especially those backed by PE firms and from spin-offs and carve-outs, are anticipated as they seek favorable public entry points.
George Chan, EY Global IPO Leader, says:
“Investors are gearing up for a more volatile second half of 2024. As inflation and interest rates recede, other emerging factors are taking precedence in influencing IPO decisions. In this environment of heightened uncertainty, well-timed market entries and compelling equity narratives are crucial for businesses looking to capitalize on IPO opportunities.”
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
• About EY Private
As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit ey.com/private.
• About EY IPO services
Going public is a transformative milestone in an organization’s journey. As the industry-leading advisor in initial public offering (IPO) services, EY teams advise ambitious organizations around the world and helps equip them for IPO success. EY teams serve as trusted business advisors guiding companies from start to completion, strategically positioning businesses to help achieve their goals over short windows of opportunity and preparing companies for their next chapter in the public eye. ey.com/ipo
• About the data
The data presented here is available on ey.com/ipo/trends. Q3 2024 refers to the third quarter of 2024 and covers completed IPOs from 1 July to 16 September 2024, plus expected IPOs by 30 September 2024 (forecasted as of 16 September 2024). Q3 2023 refers to the third quarter of 2023 and covers completed IPOs from 1 July to 30 September 2023. Q1-Q3 2024 refers to the first nine months of 2024 and covers completed IPOs from 1 January 2024 to 16 September 2024, plus expected IPOs by 30 September 2024 (forecasted as of 16 September 2024). Q1-Q3 2023 refers to the first nine months of 2023 and covers completed IPOs from 1 January 2023 to 30 September 2023. All data contained in this document is sourced from Dealogic, S&P Capital IQ, Mergermarket, Oxford Economics, Refinitiv, Pitchbook and EY analysis unless otherwise noted. The Dealogic data in this report are under license by ION. ION retains and reserves all rights in such data. SPAC data are excluded from all data in this report, except where indicated.
CONTACT:
Olivia Braddick
EY Global Media Relations
+44207 951 6829
[email protected]
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LiveWell Awarded Frost & Sullivan’s 2024 Global Customer Value Leadership Award for Advancing Equitable and Accessible Mental Health Solutions
LiveWell’s app integrates cutting-edge artificial intelligence (AI) and machine learning to provide personalized mental and behavioral health support, fostering user engagement across 27 countries and 9 languages.
SAN ANTONIO, Sept. 26, 2024 /PRNewswire/ — Frost & Sullivan recently researched the mental and behavioral health industry and, based on its findings, recognizes LiveWell by Zurich (LiveWell) with the 2024 Global Customer Value Leadership Award.
In their report, Frost & Sullivan state that LiveWell provides world-class digital health and well-being solutions to balance physical, mental, social, and financial health through its user-friendly app. LiveWell offers a wide range of tools that include mood and stress tracking; mental health support; and services offering support on a range of wellness topics. LiveWell is one of many pioneers addressing significant challenges to the mental and behavioral health industry, such as stigma, access, equity, and data privacy.
LiveWell’s commitment to continual innovation is clearly visible through its regular app updates, integrating innovative features that significantly boost user engagement and satisfaction.
“LiveWell continuously enhances its app to ensure optimal performance. With the integration of the Wellness Hub, partners can now seamlessly offer AI-powered Wellbeing Scans, telemedicine, and emotional support services, while showcasing their products and branding,” said Alejandra Parra, Research Analyst at Frost & Sullivan.
LiveWell effectively leverages research and customer feedback to update its solutions and maintain its competitive edge. For instance, the company has just released a premium version of the app, allowing users to purchase tailor-made products and services, providing access to new tools and fully customized features.
Additionally, by consistently prioritizing speed to market and customer needs, LiveWell demonstrates a unique ability to stay ahead of industry trends and respond rapidly to the shifting demands of its ever-growing global user base.
“Frost & Sullivan applauds LiveWell’s capacity to launch technology-integrated products at an impressive speed-to-market, meeting and exceeding customers’ diverse needs,” noted Parra.
Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers, focusing on improving the return on the investment that customers make in its services or products. The award recognizes LiveWell’s unique focus on augmenting its customers’ value beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
Contact: Camila Tinajero [email protected]
About LiveWell
LiveWell was founded by Zurich Insurance Group (Zurich) in 2020 with the goal of creating a service-led digital wellbeing solution that helps individuals maintain balance in their physical, mental, social and financial health. Since its inception, LiveWell has introduced its services in more than 27 countries – from Argentina to Australia – and collaborates with global health and wellbeing partners to offer users a wide range of content, challenges, and rewards that foster healthy habits. LiveWell promotes a holistic approach to wellness and understands the importance of maintaining overall health.
LiveWell’s wide range global and regional partners include Polar, Triumph, BODDY, and Philips.
Read about the LiveWell app at https://livewell.zurich.com/ and follow LiveWell on Instagram and LinkedIn.
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Fintech PR
HTX DAO Emphasizes Its Focus on the CIS Region for Global Expansion at Crypto Summit 2024
SINGAPORE, Sept. 26, 2024 /PRNewswire/ — From September 25-26, HTX DAO made a strong impression at Crypto Summit 2024, as an exclusive sponsor of its registration desk and a key partner. This demonstrates HTX DAO’s commitment to expanding its presence in the CIS region, a vital market for the global growth of its ecosystem and showcases its unique decentralized governance model. Through the Summit, the budding ecosystem attracted a broad array of crypto community members, developers, partners, and users, further strengthening its global community and decentralization.
Anton Belyakov, the operations manager for HTX in the CIS region, delivered a keynote speech titled “Towards Crypto Exchange 2.0: How HTX DAO Redefines Exchange Model to Build Active Crypto Community.”
Belyakov emphasized that HTX DAO is an organization that can change how we view centralized exchanges, representing a decentralized exchange through innovative governance and community participation. According to him, HTX DAO empowers its users, partners, and governance committee members to participate in decision-making processes and bolster the exchange to integrate community feedback, innovative solutions, and more — thereby driving rapid product evolution.
Belyakov also revealed that HTX DAO’s governance token, $HTX, has seen its value steadily increase thanks to the platform’s growth and the token burning designed to limit supply. At present, the token is traded on 24 exchanges. Since its launch in early 2024, $9 million worth of $HTX tokens have been burned and $42.5 million liquidity pledges have been received by HTX DAO, demonstrating both a robust foundation and strong potential especially within the CIS region.
Looking ahead, Belyakov noted that $HTX has the potential to lead governance tokens in the crypto space, as HTX DAO continues to set a new standard for community-driven exchanges.
The Crypto Summit, held in Moscow from September 25-26 this year, is a major annual event for cryptocurrency and blockchain sectors in Russia and the CIS. The recent event attracted over 7,000 attendees, 70 speakers, and 70 exhibitors. This year’s discussions focused on the industry’s most concerned topics, including investment opportunities, market trends, and regulatory developments.
HTX DAO highlighted the CIS region as a fertile ground for crypto growth, driven by its technology innovation, active communities, and decentralized ethos. Despite regulatory challenges and global financial pressures, the region remains a high-potential market within the global crypto industry. In August alone, HTX DAO and HTX saw their market share rise to 21.2% in the region. Going forward, HTX DAO plans to continue expanding its businesses in the CIS market, further growing its international footprint.
About HTX DAO
HTX DAO is a blockchain-based decentralized autonomous organization dedicated to revolutionizing decentralized governance and expanding the applications of blockchain technology. Our vision is centered around open finance and a decentralized, tokenized economy. At the core of HTX DAO, governance is democratically and transparently vested in the hands of $HTX token holders. We warmly invite individuals and communities to join our journey, actively participate, and contribute, together shaping an open and innovative future for the blockchain world.
For more information on HTX DAO, please visit www.htxdao.com.
Contact Details
Ruder Finn Asia
[email protected]
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SAMARKAND, Uzbekistan, Sept. 26, 2024 /PRNewswire/ — The Asian Infrastructure Investment Bank (AIIB) has grown to 110 approved Members after its Board of Governors voted in support of the application of the Republic of Nauru during the Bank’s 2024 Annual Meeting.
“The addition of Nauru as a regional Member strengthens the AIIB community and supports our collective mission to finance Infrastructure for Tomorrow,” said Jin Liqun, AIIB President and Chair of the Board of Directors. “AIIB is committed to supporting our Members’ sustainable development and together we will work on priority projects within our clearly defined thematic priorities to drive long-term sustainable growth.”
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond—infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved Members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
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