NEW YORK--(EON: Enhanced Online News)--The New York Stock Exchange (NYSE) extended its leadership as the premier venue for global capital raising with $119.4 billion in proceeds from 392 transactions in 2016, more than any other exchange in the world. Despite muted global IPO activity this year, largely due to equity market volatility early in the year and uncertainty surrounding geopolitical events, the NYSE raised $13.1 billion from IPOs including the largest U.S. IPO of the year in which Chinese express delivery company ZTO Express raised $1.4 billion.
“We’re proud to play such an important role in the growth of our clients and in supporting economic growth, demonstrating the unique role the NYSE holds at the center of the global capital markets”
Other recent notable IPOs included Japanese messaging app developer LINE (NYSE:LN) which raised $1.1 billion, Titleist© owner Acushnet (NYSE:GOLF) and the largest biotech IPO of 2016, Myovant (NYSE:MYOV). The first half of the year was highlighted by four IPOs in a single day in May, including US Foods (NYSE:USFD) which raised more than $1 billion, followed by Twilio (NYSE:TWLO), a cloud communications software company, in June.
“We’re proud to play such an important role in the growth of our clients and in supporting economic growth, demonstrating the unique role the NYSE holds at the center of the global capital markets,” said Tom Farley, NYSE Group President. “We were delighted to welcome some incredible entrepreneurs and business leaders, ranging from technology to healthcare and consumer sectors, as well as the largest IPOs. The fact that NYSE was chosen to list all of the last 25 IPOs of $700 million or more is a testament to NYSE’s proven market model that offers superior IPO execution and reduces price volatility by more than 30 percent during the most active markets.”
2016 listings leadership highlights (through December 19, 2016):
- Global leader based on listed companies’ total market capitalization of $25.8 trillion, three times the next largest exchange.
- Global leader in capital raising for the sixth consecutive year, with $119.4 billion in total proceeds raised from IPOs and follow-on financing.
- Billion Dollar IPOs: The NYSE has listed the last 15 billion-dollar IPOs.
- The Technology Exchange: Fifty-five percent of all qualified tech IPOs have chosen to list on the NYSE over the past four years.
- Energy and Healthcare Sector Expertise: The NYSE remains the leading global listings venue for publicly-traded energy and healthcare companies, representing 99 percent of the energy/utilities sector and 73 percent of the healthcare sector by market capitalization.
- International: Strong year for international new listings, including Fortis Inc. (NYSE:FTS), LINE Corp (NYSE:LN), ZTO Express (NYSE:ZTO), Algonquin Power & Utilities Corp. (NYSE:AQN), Grupo Supervielle (NYSE:SUPV), Azure Power Global Ltd. (NYSE:AZRE) and Bank of N.T. Butterfield & Son Limited (NYSE:NTB).
- Spin-Offs: Stellar year for spin-offs, with 25 companies representing $74.6 billion in total market capitalization listing on NYSE and NYSE MKT. Newly-listed companies include Yum China Holdings Inc. (NYSE:YUMC), Herc Holdings (NYSE:HRI), Alcoa Corporation (NYSE:AA) and Lamb Weston Holdings (NYSE:LW).
- Transfers: Transfers to NYSE from Nasdaq include R.R. Donnelley & Sons Corp (NYSE:RRD), America Movil (NYSE:AMOV) and Envision Healthcare Holdings Inc. (NYSE:EVHC) among others representing more than $9.8 billion in total market capitalization.
Farley offered his views on the outlook for 2017:
“As we look ahead, we are laser focused on serving and expanding our network of 2,400 listed companies. With so many innovative companies led by strong management teams looking to raise capital and grow by accessing public markets, we are optimistic about a strong start to 2017. And we are building on our growth in the technology and biotech sectors, while leading the energy, financial, healthcare and consumer sectors. We’re also investing in deepening relationships among NYSE-listed companies within our network by connecting them with their peers and engaging with policy leaders. As we look to the New Year we are excited to help our clients unlock more value.”
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About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. The equity exchanges -- the New York Stock Exchange, NYSE MKT and NYSE Arca -- trade more U.S. equity volume than any other exchange group. NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on February 4, 2016.
SOURCE: Intercontinental Exchange