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 technology sector, with 33 IPOs in 2018, led the U.S. market in 2018, raising $10.6 billion on Nasdaq. Seven of the largest 10 technology IPOs by proceeds raised chose to list on Nasdaq, including iQIYI (raised $2.25 billion), Pinduduo (raised $1.62 billion), StoneCo Ltd (raised $1.2 billion), Dropbox (raised $756 million) and DocuSign (raised $629 million).
2017 was already a record-breaking year for exchange transfers, but 2018 had Nasdaq welcoming a total of 20 switches from the New York Stock Exchange (NYSE) with a combined market value of approximately $256.2 billion. Notable transfers include Regency Center, WW, Newell Brands, United Continental Holdings, Alliant Energy and Sanofi. The total market value of all companies joining Nasdaq from NYSE since 2005 has exceeded $1.5 trillion.
Nelson Griggs, President, Nasdaq Stock Exchange, commented:
“This year has been an exceptional year for the U.S. IPO market and our listings business. Not only did we welcome numerous high-profile IPOs, but we also continue to attract exchange transfers across all sectors. These results speak to the value of our holistic approach – a long-term partnership that supports companies throughout their growth journey, from the first day of trading through our technology and advisory services to engage investors and the investment community.
We look forward to building on our momentum in 2019.”
The operator’s recently launched Corporate Bond exchange for listing and trading of corporate bonds allows public companies to list their debt securities on a market that uses Nasdaq trading technology and surveillance. PepsiCo is one of the leading companies that announced transferring the listing of their debt securities via Corporate Bond.
In 2018, initial public offerings on Nasdaq raised almost twice the amount in proceeds compared to 2017. Win rates came in at 63 percent in technology, 82 percent in VC-backed listings, 94 percent for healthcare, and 74 percent for financials.
