The financial sector has fared quite well in the first half of 2017, with 101 IPOs raising a total of USD 22.3 billion, and also accounting for the majority of cross-border IPOs. This year’s cross-border capital raising is positively impacted by the long awaited listing of Allied Irish Banks, which raised USD 3.4 billion, dual listing in Dublin and London, and Guotai Junan Securities, a Chinese brokerage, which raised a total of USD 2.2 billion on the Hong Kong Stock Exchange. Capital raised in the high technology sector increased significantly by 443% to USD 11.8 billion from 100 listings. This was largely driven by the capital raised in Snap Inc’s listing in North America. 2017 is shaping up to be a much better year for the sector than 2016.

Consumer products and services picked up momentum this year, raising USD 8.2 billion from 69 IPOs and proceeds from cross-border IPOs totaling USD 1 billion from 10 IPOs, compared with USD 263 million from two deals in the first half of 2016. Interesting to note, that half of these are Chinese educational service companies.

Global energy and power increased capital raising by 90%, securing USD 7.7 billion from 43 deals in the first half of 2017. Kinder Morgan Canada is the largest IPO for the energy and power industry, raising USD 1.3 billion, listing on the Toronto Stock Exchange. This is the largest energy and power listing on the Toronto Stock Exchange since 2015. The sector is also awaiting the announcement of the listing of Saudi Aramco, with speculation around which stock exchange it will choose to list their shares on.

IPOs in the healthcare sector increased by 19%, with 69 healthcare companies going public in the first half of 2017. Healthcare companies dominate the cross-border IPO market in terms of volume, with 15 listings accounting for a quarter of all cross-border IPOs. There were low numbers of healthcare listings in the first half of 2016 due to potential government intervention on drug prices in the US, increased financial risks and the presidential election. Recent policy announcements in the US suggest that the sector may not be impacted to the same extent and we can therefore expect an increase in listings through the remainder of the year.

Real estate was the only industry to show a decline in both capital raising and number of companies going public in 2017.
VALUE (USD MILLION)
DOMESTIC
CROSS-BORDER
TOTAL
% CHANGE FROM H1 2016
INDUSTRY
18,406
7,203
22,259
47%
FINANCIALS
FINANCIALS
11,322
490
11,812
443%
HIGH TECHNOLOGY
HIGH-TECHNOLOGY
11,003
422
11,275
59%
INDUSTRIALS
INDUSTRIALS
7,423
1,013
8,262
360%
CONSUMER PRODUCTS AND SERVICES
CONSUMER-PRODUCTS
7,187
558
7,744
90%
ENERGY AND POWER
ENERGY-AND-POWER
5,379
1,279
6,418
88%
HEALTHCARE
HEALTHCARE
VOLUME
DOMESTIC
CROSS-BORDER
TOTAL
% CHANGE FROM H1 2016
INDUSTRY
93
9
101
40%
FINANCIALS
Financials
98
3
100
82%
HIGH TECHNOLOGY
HIGH-TECHNOLOGY
61
10
69
92%
CONSUMER PRODUCTS AND SERVICES
CONSUMER-PRODUCTS
79
3
81
80%
MATERIALS
MATERIALS
57
15
69
19%
HEALTHCARE
HEALTHCARE
125
4
128
75%
INDUSTRIALS
INDUSTRIALS
VALUE (USD MILLION)
FINANCIALS
down-arrow-2-v1up-arrow-v1Financials
HIGH TECHNOLOGY
down-arrow-2-v1up-arrow-v1HIGH-TECHNOLOGY
INDUSTRIALS
down-arrow-2-v1up-arrow-v1Inustrials
CONSUMER PRODUCTS AND SERVICES
down-arrow-2-v1up-arrow-v1CONSUMER-PRODUCTS
ENERGY AND POWER
down-arrow-2-v1up-arrow-v1energy
HEALTHCARE
down-arrow-2-v1up-arrow-v1HEALTHCARE
VOLUME
INDUSTRIALS
down-arrow-2-v1up-arrow-v1Inustrials
FINANCIALS
down-arrow-2-v1up-arrow-v1Financials
HIGH TECHNOLOGY
down-arrow-2-v1up-arrow-v1HIGH-TECHNOLOGY
MATERIALS
down-arrow-2-v1up-arrow-v1MATERIALS
CONSUMER PRODUCTS AND SERVICES
down-arrow-2-v1up-arrow-v1CONSUMER-PRODUCTS
HEALTHCARE
down-arrow-2-v1up-arrow-v1HEALTHCARE
SECTOR INSIGHT
Koen Vanhaerents
Edward Bibko
Contact
David Holland
Amar Budarapu
Pablo Berckholtz
top-arrow
Global Insight
Sector Insight
Stock Exchange Insight
Private Equity and Venture Capital Backed IPO Insights
Technology Sector
Private Equity and Venture Capital-backed IPO
RETURN TO BAKERMCKENZIE.COM
white-banner-arrow-2
Regional Insight: Asia Pacific
Regional Insight: EMEA
Regional Insight: North America
Regional Insight: Latin America
Baker-McKenzie-New-Logos
ABOUT
CONTACT
HOME
hamburgerx-toc
HOME
CONTACT
ABOUT
INSIGHT
red-menu-arrow
red-menu-arrow
REGIONAL INSIGHT
SPOTLIGHT
red-menu-arrow
EmailLinkedinTwitter
INSIGHT
red-menu-arrow-v1
REGIONAL INSIGHT
red-menu-arrow-v1
SPOTLIGHT
red-menu-arrow-v1
EmailLinkedinTwitter