金融界网四月15日消息安永今日发布《2021年第一季度全球IPO趋势》 。 　　

　　

　　报告认为，按照以往每年首个季度市况较为平静，但今年打破了这个传统，市场交投气氛活跃，是近二十年来同期最出色的第一季度。 　　

　　

　　全球首次公开发行市场今年迄今共有403宗交易，集资额为1,056亿美元，分别按年增长85% 和271%。大中华区的强劲首次公开发行势头反映其经济增长，交易数量133宗，按年上升51%,集资额289亿美元，按年上升1.21倍。从行业看，科技行业不论在交易数量和集资额方面，都超越其他行业，共有51宗交易，集资177亿美元。 　　

　　

　　安永报告指出，这种持续增长的势头归因于充足的流动性和新冠疫情所带来的新机遇。展望未来，由于担心市场可能出现调整，投资者情绪较为脆弱。 　　

　　

　　同时对于第二季度，安永认为，尽管市场情绪趋向乐观，但不确定性加剧，造成市场动荡。全球疫苗接种进度不同、地缘政治紧张、通货膨胀等因素都将成为造成"风暴"的潜在因素。 　　

　　

　　以下为全文： 　　

　　

　　流动性推动的首次公开发行市场在2021年雌三醇环戊醚打破纪录 　　

　　

　　Q1 2021全球首次公开发行数量同比增长85%,收益同比增长271% 　　

　　

　　Q1 2021年的特殊目的收购公司首次公开发行比2020年全年都要活跃 　　

　　

　　Q1 2021是20年来表现最好的第一季度 　　

　　

　　到目前为止，2021年诱人的市场条件导致了过去20年来交易数量和收益表现最佳的第一季度。尽管雌三醇环戊醚传统上是一个增长缓慢的季度，但这种活跃程度的提高逆势而上。正如传统的首次公开发行市场一直非常活跃一样，特殊目的收购公司（特殊目的收购公司)在雌三醇环戊醚的首次公开发行也打破了记录，完成了更多的交易，筹集的资金比2020年全年都多。通过Q1 2021，全球首次公开发行市场共有430笔交易，募集资金1056亿美元，同比分别增长85%和271%。 　　

　　

　　这种持续增长的势头可以归因于充足的流动性和新冠肺炎疫情带来的新机遇。与此同时，投机和机会主义交易以及零售投资平台在包括年轻一代在内的公众中的普及，使得投资比以往任何时候都更容易获得。展望未来，由于担心市场即将回调，投资者情绪仍然脆弱。考虑到这一点，投资者将继续利用流动性寻找投资回报，只要流动性仍然可用。 　　

　　

　　美洲地区延续了今年第一季度的反弹势头，共完成121笔交易，募集资金452亿美元。总体而言，美国交易所的合并交易数量和收益达到了20多年来的最高水平。亚太地区创下20年来最高的首次公开发行收益，共有200宗首次公开发行 　　

ising US$34.3b in proceeds. Following a quiet 2020, IPO markets in EMEIA roared to life in Q1 2021 resulting in 109 IPOs and US$26.1b in proceeds.

　　

The technology sector remained as the top spot by deal numbers through the first quarter dominating in terms of number of IPOs （111） and proceeds （US$46.1b）. Health care followed with 78 IPOs raising US$14b. Industrials came in third by IPO numbers seeing 57 deals raise US$6.3b in proceeds. These and other findings were published today in the EY quarterly report， Global IPO Trends: Q1 2021.

　　

Paul Go， EY Global IPO Leader， says:

　　

“With markets awash with liquidity， global IPO deal numbers and proceeds have posted the best performance witnessed in 20 years. However， many uncertainties remain that can create volatility and affect the IPO markets. These include slower-than-expected vaccination programs and new waves of the pandemic that can continue to peg back any real economic recovery； the slow-down and withdrawal of IPO applications due to tightened regulatory process； and risk of capital markets destabilizing from banks scaling back on leverage. Companies need to be well prepared to access the market when the window remains open.”

　　

Americas IPO markets break records by deal numbers and proceeds in Q1 2021

　　

IPO activity in the Americas region more than tripled by deal numbers compared with Q1 2020 with deals increasing 218％ （121 IPOs） and proceeds raising an unprecedented 446％ more， totaling US$45.2b. While the health care sector continued to lead the region by deal numbers through Q1, with 44 IPOs （raising US$8.7b）， the technology sector accounted for the lion’s share of the region’s proceeds raising US$21.4b （via 33 IPOs）.

　　

As with the global market， the US tends to be slower in Q1. However， Q1 2021 saw deals being carried over from 2020 and issuers taking advantage of high valuations led by technology companies resulting in the US seeing 99 IPOs raising US$41.1b overall. The explosion of SPAC IPO activity continued into Q1 2021 with activity already surpassing the records broken in 2020. In Q1 2021, there were already three times as many SPAC IPOs on US exchanges than traditional IPOs， all while traditional IPO deal numbers skyrocketed as well. Through Q1 2021, the US saw 300 SPAC IPOs raise US$93.4b in proceeds.

　　

Like the US， Brazil’s IPO activity continues to surge culminating in the country’s most active quarter since 2007. In Q1 2021, Brazil represented 12％ of the region’s total IPO count with 15 IPOs raising US$3.5b.

　　

Rachel Gerring， EY Americas IPO Leader， says:

　　

“Americas IPO activity maintained its resiliency into 2021, driven by high valuations and strong aftermarket performances. Despite the volume of SPACs and the attention they are receiving， traditional IPOs have staying power with Q1 2021 deal numbers and proceeds being the highest in more than 20 years. Continued innovation in the traditional IPO product is allowing a healthy competition with non-traditional approaches to public markets. Ongoing evolution provides issuers more optionality and the ability to form a curated path to public markets.”

　　

Asia-Pacific IPO markets defied expectations， maintaining positive momentum

　　

The Asia-Pacific region started the year by accounting for nearly half （47％） of the global IPO activities in Q1 2021. The region saw 200 IPOs raising US$34.3b in proceeds， achieving the highest Q1 proceeds in 20 years， beating the former record from Q1 2010. In terms of sector activity， technology outpaced all others by both volume （51） and proceeds （US$17.7b）.

　　

Greater China’s positive economic growth was reflected in its buoyant IPO momentum. Despite a new review process instituted by Chinese regulators， Greater China saw a 51％ increase in deals （133） and 121％ increase by proceeds （US$28.9b） YOY.

　　

Japan’s IPO activity remained steady as well， as funds continued to find their way to high-tech startups resulting in a healthy pipeline of IPO candidates. Overall Japan saw 20 IPOs raise US$1.0b in proceeds.

　　

Ringo Choi， EY Asia-Pacific IPO Leader， says:

　　

“It’s the first quarter of a new year. It’s the first year of a new US presidency， with a new team at the table to deal with US-China relations. In addition， we are entering the second year of the COVID-19 pandemic. There is optimism， yet uncertainties remain， which could lead to volatility in Asia-Pacific IPO markets in 2021. Asia-Pacific companies will need to be resilient to these types of challenges to be successful in their IPO journey.”

　　

EMEIA’s IPO market sees increased momentum， optimism and unicorns through Q1

　　

The EMEIA region got off to a strong start in Q1 2021 buoyed by the lingering momentum from Q4 2020. Sustained activity in the region can be attributed to high valuations， low volatility and rising confidence in an eventual economic rebound. Overall， EMEIA saw 109 IPOs， a 179％ increase YOY. These deals raised US$26.1b in proceeds， a 646％ increase YOY.

　　

Europe stayed resilient， despite restrictions brought on by the COVID-19 pandemic， resulting in improved investor sentiment. European IPO activity rebounded in Q1 increasing deal numbers by 315％ （83） and proceeds by 1,814％ （US$23.1b）. In the UK， investors sustained their appetites and companies took advantage of pandemic-accelerated growth and high levels of liquidity. The UK ended the quarter with 17 IPOs raising US$7.5b in proceeds， increasing 467％ and 1,031％， respectively.

　　

Dr. Martin Steinbach， EY EMEIA IPO Leader， says:

　　

“High valuations， low volatility and increasing optimism of an economic rebound have sustained IPO activity in Q1 2021 and motivated several unicorns to leap through the open transaction window. We expect this momentum will carry into Q2 2021. With tailwind from government stimulus and a successful rollout of vaccines across the region， there is growing confidence in a global economic rebound in 2021 and 2022. However， a third wave of the COVID-19 pandemic and a possible market correction may influence IPO windows for the remainder of the year. IPO candidates need to prepare early and keep all options open.”

　　

Q2 2021 outlook: uncertainties may saturate market volatility triggering a perfect storm

　　

While sentiments are trending positive， uncertainties will continue to weigh， creating market volatility. The likelihood of new waves of the COVID-19 pandemic around the world combined with differing global vaccination progress， geopolitical tensions， inflation， interest rates and the ability of the global financial systems to withstand unexpected market shocks are all potential ingredients for a perfect storm. Whether a company decides to take the route of a traditional IPO， SPAC merger or a direct listing， well-prepared companies in popular sectors and with the right stories should move now to catch the transaction window while it’s still open.

　　

-ends-

　　

Notes to Editors

　　

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About the data

　　

The data presented in the Global IPO trends: Q1 2021 report and press release is from Dealogic and EY. Q1 2021 （i.e.， January-March） is based on completed IPOs as of 24 March 2021 and expected IPOs by end of March 2021. Data as of 25 March 2021, 9 a.m. UK time. All data contained in this document is sourced from Dealogic， CB Insights， Crunchbase and EY unless otherwise noted. Special purpose acquisition company （SPAC） IPOs are excluded in all data included in this report， except where indicated.