2007 Annual IPO Review

IPO Summary Stats
2003 2004 2005 2006 2007
No. of Deals 68 216 194 198 234
Total Proceeds (billions) $15 $43 $34 $43 $54
Average Deal Size (millions) $224 $198 $175 $217 $229

IPO Returns
2003 2004 2005 2006 2007
Total Return 28% 34% 18% 26% 13%
First Day Pop 13% 11% 11% 11% 11%
Aftermarket Return 14% 21% 6% 13% -0%
Renaissance IPO Index (IPOP) Returns 26% 33% 23% 18% 15%

All Priced Deals for 2007 Performance Statistics 2007


2007 IPO Commentary
During 2007, all of the talk about IPOs was that London and Hong Kong were stealing the New York IPO market’s thunder. But, with the largest number of IPOs and highest dollar volume since 2000, the 2007 U.S. IPO market performed well against the backdrop of the subprime and credit market crises. Driving the IPO market were fast growing Chinese companies in search of US capital and hot U.S. technology companies. Although IPOs were mostly immune from the problems of foreclosures, bad loans and deteriorating credits, the four largest issuers this year were financial companies, two of them money managers whose investments were potentially in these now contaminated realms of the credit markets. Technology continued its rebound, although performance was bifurcated, with sought after on-demand and virtualization software companies soaring and smaller names tanking.


Please note: The summary and returns data prior to 2008 do not reflect Renaissance Capital's recent change to include all SPACs with a market cap of $50 million or more in its IPO statistics.

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