Equity Issuance Proceeds Increase in Q3; IPO Performance Ticks Up

Global Equity Capital Markets activity hit a three-year high at the end of September. Total global proceeds through the first nine months of 2024 amounted to $354 billion with 3,986 offerings closed, an 8.1% increase in proceeds and a 0.2% change in deal volume compared to the same period last year.

Global IPO performance improved slightly in 2024 amid interest rate cuts. The average stock performance of 2024 IPOs are greater than comparable post-IPO figures from 2022 and 2023. The post-listing returns of 2024 IPOs performed well within the six-month metrics, with the highest average gain of 60.7% posted at the six-month period.

Sponsor-backed IPOs as a percentage of total IPOs in the first nine months 2024 totaled 25%, an increase from the same period in 2022 but still below the 2020 and 2021 levels.