Technology and Life Sciences IPO Survey – 2018, Full Year

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Key Metrics for Recent Technology and Life Sciences Initial Public Offerings

The life sciences and technology markets continued their strong performance in the second half of 2018, notwithstanding significant market volatility, a sharp decline in the stock market and a looming federal government shutdown at the end of the year.

The year started slowly but quickly gained steam with an unusual number of IPOs over the summer before activity slowed again in the last few months.

Key H2 2018 Findings:

  • In the life sciences, 34 companies completed offerings (compared to 33 in H1 2018), and the highest number since 37 were completed in H1 2015.
  • In the tech industry, 23 offerings priced, matching the number in H1 2018.
  • The largest IPO was a technology offering for China-based Pinduoduo which raised $1.6 billion.
  • A surprisingly high percentage of tech IPOs—65.2%—reported insider participation, which is three times higher than the 20% of tech IPOs in H1 where insiders participated
  • The dual-class share structure continued to be very popular with technology companies.
  • Pricing conditions continued to be favorable for H2 2018 offerings.

This report analyzes key aspects of initial public offerings (IPOs) for technology and life sciences companies that went public in the second half of 2018. Our IPO Survey was developed for clients, friends and others interested in considering the data surrounding recent IPO activity. Downloading the full report will provide you access to a number of tables and charts that offer a graphical view of key parameters as well as a sense of recent trends.

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