IPO Market In The U.S. Is On Pace For A Record Year

The U.S. market for initial public offerings (IPOs) is on track for a record year.

The IPO calendar is heating up this autumn with a number of highly anticipated companies, such as Rivian and InstaCart, set to list shares on stock markets.

At the end of September, a total of 19 companies raised more than $1 billion U.S. via IPOs on the NASDAQ and New York Stock Exchange. The top five are Coupang, which raised $4.6 billion U.S., DiDi Global, which raised $4.4 billion U.S., Bumble, which raised $2.5 billion U.S., Robinhood Markets, which raised $2.3 billion U.S. and AppLovin, which raised $2.0 billion U.S.

At the same time last year, 15 companies had raised $1 billion U.S. or more via IPOs — with another eight joining them by year-end. The top three, Snowflake, Airbnb and DoorDash each raised between $3 billion U.S. and $4 billion U.S.

This year through September, companies had raised a total of $98 billion U.S. through the IPO process on U.S. exchanges. That $98 billion U.S. this year compares to $69.9 billion U.S. raised through September 2020.

Last year ended with a record $102.5 billion U.S. of equity raised, a number that will likely be eclipsed this year by the end of October. The prior year record was set in 2014 with $87.7 billion U.S. raised through the end of September. That year included the largest U.S. IPO of all time, Alibaba, which raised $25 billion U.S.

Breaking down this year's IPOs by sector, technology and healthcare have raised the most money, while utilities and energy have raised the least.