The number of initial public offerings in the second quarter rose 74% from a year ago, according to Renaissance Capital's Q2 review of the global IPO market.
Through June 27, there were 127 issuances in the quarter, with proceeds of $56.3 billion – an increase of 42% from Q2 2013.
By region, global issuance was led by Europe, with 44 deals raising $24.6 billion – the highest level of proceeds since the fourth quarter of 2007. Renaissance noted the region saw a rapid pace of deals in the quarter as it “continued to recover from the European debt crisis and interest rates remain at record lows.”
Forty-four North American IPOs raised a total of $19.7 billion in the quarter, followed by the Asia-Pacific region (36 deals raising $11.4 billion).
Financials led by sector, with $16.1 billion raised in the quarter. The largest financial deals in the quarter were Ally Financial ($2.4 billion), AA PLC ($2.3 billion) and JD.com ($1.8 billion).