A total of $95 billion was raised through 445 IPOs. On a year-to-date (YTD) basis, $165 billion was raised through IPOs, up 43 per cent over the corresponding period last year. India ranked ninth globally with eight main board IPOs and 15 SME offerings in 2020.
In terms of capital mobilised, India ranked tenth with 1.4 per cent market share. China’s Shanghai Stock Exchange ranks first both in terms of number of issues (180) and proceeds ($39.3 billion).
China’s Semiconductor Manufacturing International’s $7.5-billion IPO was the biggest during the quarter. Snowflake’s $3.9 billion IPO was the other major offering. “Although market sentiments can be fragile, the scene is set for a busy last quarter to end a turbulent 2020 that has seen some stellar IPO performances.
The US presidential election, as well as the China-US relationship after the election, will be key considerations in future cross-border IPO activities among leading stock exchanges. Despite the uncertainties, companies and sectors that have adapted and excelled in the ‘new normal’ should continue to attract IPO investors,” said Paul Go, IPO leader, EY Global.
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