2024年第二季度全球IPO趋势报告

Investment Rating - The report indicates a positive outlook for the IPO market, particularly in the Americas and EMEIA regions, while Asia-Pacific faces challenges [3][15][17]. Core Insights - The global IPO market is experiencing a divergence, with the Americas and EMEIA regions seeing significant growth, while Asia-Pacific is slowing down [3][15]. - Investor enthusiasm is high, with IPO returns outperforming index benchmarks, reflecting a shift towards financial sustainability and profitability [18][20]. - The first half of 2024 saw industrials, technology, and materials leading IPO activity, with the US and India dominating key sectors [27][29]. - Family businesses are increasingly considering IPOs to balance legacy and growth, with notable examples in Europe and MENA [33][34]. - The unicorn IPO landscape is shifting as market conditions improve, with a focus on technology and AI companies [41][44]. Summary by Sections Global IPO Activity - In H1 2024, EMEIA regained the top global IPO market share by number for the first time in 16 years, while the Americas surged in proceeds from 5% in 2022 to 34% in H1 2024 [11][13][15]. - The Asia-Pacific region saw an 82% decrease in IPO proceeds, reflecting geopolitical tensions and economic slowdowns [8][17]. Sector Analysis - The industrials sector saw significant growth in IPOs, particularly in South Korea and India, driven by demand for EVs and infrastructure investments [68]. - The technology sector experienced a rebalancing, with a shift from semiconductor listings to software and AI companies, indicating a diversification in IPO candidates [73][74]. - The health and life sciences sector is witnessing a revival, with a notable increase in IPO activity driven by biotech innovations [83][84]. - The consumer sector faced a slowdown, with a 15% decline in proceeds, influenced by macroeconomic factors and rising unemployment [77]. Private Equity - There has been a significant increase in PE-backed IPOs, with proceeds more than doubling year-on-year, indicating strong investor appetite for these listings [92][94]. - The US remains the preferred destination for PE-backed flotations, accounting for a substantial share of listings by volume and proceeds [94]. Market Outlook - The outlook for the IPO market in H2 2024 appears promising, driven by expectations of interest rate cuts and improved market conditions [61][62]. - Geopolitical tensions and upcoming elections are expected to influence IPO strategies and market dynamics [47][54].