A volatile stock market and uncertainty abroad did little to weaken demand for initial public offerings over the past 12 months, as a resurgent tech sector helped fuel the IPO market’s strongest year since 2014.
Unfortunately, the market’s ups and downs have left the majority of those companies trading for less than when their IPOs launched.
As of Dec. 20 some 211 companies had successfully held IPOs this year. That’s about 35 more than in 2017 and equated to $54.2 billion in total funds raised — a 24 percent increase over the prior year.
Much of the IPO activity came from the tech sector, which accounted for seven of the 10 biggest IPOs in 2018, according to PricewaterhouseCoopers. To date, the year’s largest IPOs have included Elanco Animal Health Inc., a producer of medications for livestock, which raised $1.7 billion; home security provider ADT Inc., which raised $1.5 billion; and online credit provider GreenSky Inc., which raised $1 billion.
Greater Washington’s top IPO of…Read the full story from the Washington Business Journal.