- Renaissance Capital reports that 169 IPOs raised $30B in 2015 to mark a six-year low for IPO action. Last year, 275 deals generated over $85B in proceeds.
- The biotech sector was one of the only pockets of high IPO activity during a very weak second half of the year. Tech IPOs were downright scarce, with proceeds down 87% Y/Y.
- The average aftermarket return of -15.4% is the worst performance for IPOs since 2011.
- Notable IPOs on file for a potential 2016 debut include Neiman Marcus Group (NMG-OLD), Univision (UVN), Albertsons (NYSE:ABS), Vizio, SoulCycl (OTC:SOUL), and Station Casinos. Most analysts don't expect Federal Reserve rate increases to be a huge factor as companies weigh when to file.
- An IPO watchlist from Renaissance Capital of private companies includes Uber (NYSE:UBER), Dropbox (DROPB), US Foods, MGM Growth Properties (MGM's REIT), and Airbnb (AIRB).
- Related ETFs: FPX, IPO, IPOS, FPXI.