Many of the 53 new registrants entering the pipeline in Q4 were smaller companies; 24 companies sought deal sizes of $100 million or less. Ten of the new registrants went public within the same quarter, contributing to the high turnover in the pipeline.
“Finally, the markets are opening up to represent their historic diversity – a range of deal sizes, pre-recession averaging at about $190 million, and a variety of industries led by technology,” said Jackie Kelley, Ernst & Young LLP, Americas IPO Leader. “Although strong companies can access the public markets most of the time, this quarter represents a return to normalcy for the average players. The next few months are shaping up to be a key period of activity.”