The Nasdaq Stock Market has welcomed 185 initial public offerings (IPOs) in 2019, raising a total of $34.3 billion, more proceeds than any other U.S. exchange. The top IPOs were Lyft Inc. (raised $2.34B), XP Inc. (raised $1.96B), Peloton Interactive, Inc. (raised $1.16B), Change Healthcare, Inc. (raised $807M), Zoom Video Communications, Inc. (raised $751M), and Datadog Inc (raised $648M). Ten of the top 15 U.S. IPOs in 2019 were dealt by Nasdaq.
Nelson Griggs, President, Nasdaq Stock Exchange, commented: “Nearly 80% of IPOs in the U.S. chose Nasdaq as their listing partner. We are committed to providing best in class technology and services for companies from private to public and at every stage of their lifecycle, including the most efficient market model, superior market analytics and advisory services, and access to our world-leading indexes.”
In 2019, Nasdaq counted with a 78 percent win rate in the U.S. market and has extended its lead to 24 consecutive quarters. In addition to the successful year in IPOs, 15 companies switched their corporate listings from the NYSE and IEX to join Nasdaq, and eight companies issued 11 new bonds and transferred 37 existing bonds from the NYSE.
The $34.3 billion raised this year was the most on Nasdaq in the past decade. Nasdaq maintained its strong track record in sponsor-backed listings, with a win rate of 88 percent in venture capital-backed IPOs and 60 percent in private equity-backed IPOs. Win rates for Health Care, Financials, Consumer, and Technology sectors were 96 percent, 74 percent, 70 percent, and 61 percent, respectively.
Nasdaq welcomed 15 switches from the NYSE and IEX in 2019, representing a combined $212.5 billion in market value, including Exelon Corp ($47.6B), Interactive Brokers Group ($23.4B), and CBS Corp ($14.2B) with the completed merger of Viacom and CBS. The total market value of all companies joining Nasdaq from NYSE since 2005 has exceeded $1.58 trillion.
Nasdaq Bond Exchange was launched in 2018 and had eight companies issuing 11 new bonds and transferring 37 existing bonds from the New York Stock Exchange in 2019 including Apple, Inc., Microsoft Corporation, Booking Holdings Inc., and Fiserv, Inc.
A glance at the year 2018 shows that Nasdaq was able to extend its IPO leadership to 20 consecutive quarters in the U.S. with a 72 percent win rate, with new listings raising a total of $27.7 billion out of 185 initial public offerings, the same number of IPOs as 2019.