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Tag: ipo

  • UiPath submitted the documentation for an IPO on the New York Stock Exchange

    UiPath submitted the documentation for an IPO on the New York Stock Exchange

    UiPath, the first Romanian unicorn, submitted on Friday the documentation for an initial public offering (IPO) on the New York Stock Exchange.

    Under the ”PATH” symbol, the company aims to get a billion dollars, although the value of the amount will probably change, MarketWatch and Reuters reported.

    A group of 22 banks, led by Morgan Stanley and JP Morgan, subscribe to the transaction.

    The earnings from NYSE listing will be used for corporate purposes, which could include acquisitions, the New York-based company said.

    UiPath reported a loss of $ 92.40 million in 2020, lower than the previous year’s loss of $ 519.90 million.

    Revenue rose to $ 607.60 million from $ 336.2 million.

  • UiPath submitted the documentation for an initial public offering

    UiPath submitted the documentation for an initial public offering

    UiPath announced that it has submitted the documentation for an initial public offering (IPO), an operation at the end of which it could be valued at over 20 billion dollars, Bloomberg reports.

    UiPath said the size and price of the IPO had not yet been scheduled. However, sources quoted by Bloomberg say that the initial public offering could take place in the first half of next year.

    Investors in UiPath include Accel, Sequoia Capital, Coatue Management, Tiger Global Management LLC and Tencent Holdings Ltd.

    Founded in Romania in 2005, under the name DeskOver and renamed UiPath in 2015, the company has among its entities entities such as the CIA, the US Navy, McDonald’s, Duracell and Swiss Re.

    The company had revenues of $ 360 million last year, after helping some of the largest US companies to automate their routine processes.

    In July this year, UiPath announced that it was valued at $ 10.2 billion, after a new round of funding worth $ 225 million.

  • Global IPO activity rebounds sharply hitting historic highs in Q3 2020

    Global IPO activity rebounds sharply hitting historic highs in Q3 2020

    Q3 2020 bucked the traditionally slow IPO period as the markets were awash with liquidity resulting in the most active third quarter in the last 20 years by proceeds, and the second highest third quarter by deal numbers.

    Globally, YTD IPO activity accelerated, resulting in a 14% increase in the total number of IPOs to 872, and an impressive 43% rise in proceeds of US$165.3b.

    As for sectors, technology, industrials and health care once again topped the ranks. Technology saw 210 IPOs raise US$53.9b, industrials saw 168 IPOs raise US$23.3b and health care saw 159 IPOs raise US$33.3b.

    IPO activity in the Americas saw 188 deals raise US$62.4b in proceeds, increasing 18% and 33%, respectively YTD, while Asia-Pacific saw 554 IPOs raise US$85.3b in proceeds, rising by 29% and 88%, respectively YTD. Both markets have already exceeded YTD 2019 levels.

    While the EMEIA region rose quarter on quarter, IPO volumes are still down YTD by 27% (130) and proceeds by 24% (US$17.6b), respectively. Cross-border IPO activity levels have held steady by deal numbers and proceeds, accounting for 8% and 10% of global IPO activity, respectively.

    Americas IPO activity picked up the pace in Q3 2020

    IPO activity in the Americas gained momentum overall, seeing an 18% increase in IPOs (188) and 33% increase in proceeds (US$62.4b) YTD, exceeding 2019 YTD levels. While the health care sector dominates YTD in number of IPOs (71), the technology sector leads in proceeds, raising US$22.3b through the quarter.

    The Americas have proven to be the birthplace of unicorn (privately held startup companies with a value of over US$1b) IPOs, launching 12 of 2020’s 18 IPOs in Q3 alone.

    US exchanges accounted for the majority of IPOs with 82% of deals and 87% of proceeds in Q3 2020. In addition, the importance of Special Purpose Acquisition Company (SPAC) IPOs on US exchanges also rose in 2020. In other parts of the Americas, the Brazil IPO market picked up as low interest rates led investors to the stock market, with 13 IPOs through Q3 2020, compared to no IPOs during Q3 2019, putting 2020 on track to be the most active year in Brazil since 2007.

    Asia-Pacific IPO landscape grows stronger, window of opportunity remains open

    YTD 2020 Asia-Pacific IPO activity has surpassed YTD 2019 activity by both volume (29%) and proceeds (88%). Activity in the region accelerated in part due to COVID-19 pandemic- related government stimulus policies, for example, employment subsidies provided to airlines in the region.

    In Greater China, Q3 2020 IPO activities are on track to hit historic highs with deal numbers and proceeds up 152% and 139%, respectively year-on-year. As US-China trade tensions heighten leading up to the US presidential election, some Chinese companies listed on US exchanges chose to conduct a secondary listing on the Greater China exchanges, tapping into the Chinese equities market. 

    The market in Japan has also intensified compared to Q3 2019 with a 67% increase in numbers and 40% rise in proceeds.

    EMEIA IPO market gains momentum to get back on track

    Following a slower H1 2020, EMEIA IPO markets gained significant momentum in Q3 2020 with deal numbers increasing 34% and proceeds rising 49% compared with Q3 2019, due in part to several large IPOs in the region. The region’s big winners are those riding on the tech digitalization wave – in particular technology, industrial and health care sectors.

    In Europe, markets are beginning to rally, with Q3 2020 IPO numbers up 48% and proceeds increasing 51% as compared with Q3 2019.

    At the same time, the UK IPO activity increased for the region as a whole with a mega IPO (deals with proceeds greater than US$1b) demonstrating the available liquidity of the market and showcasing international investor interest for the right deal.

    These and other findings were published today in the EY quarterly report, EY Global IPO Trends: Q3 2020.

  • COVID-19 pandemic slows global IPO activity in 2020

    COVID-19 pandemic slows global IPO activity in 2020

    The impact of the COVID-19 pandemic continued to play a significant role in declining IPO activity in the first half of 2020 – as shown in the quarterly report EY – Global IPO trends: Q2 2020.

    Overall, Q2 2020 saw a decline in IPO activity from Q2 2019 across all regions by deal numbers and for the Americas and EMEIA by proceeds.

    Global IPO activity slowed dramatically in April and May, with a 48% decrease by volume (97 deals) and a 67% decrease in proceeds (US$13.2b) compared to April and May 2019.

    This dragged down 1H 2020 regional activities compared with 1H 2019 and overall YTD deal volume (419 deals) and proceeds (US$69.5b) decreased 19% and 8%, respectively, from YTD 2019.

    Despite a late flurry of deals in June, global IPO activity was sluggish on Americas and EMEIA stock exchanges YTD, while Asia-Pacific IPO activity increased.

    Americas deal volume (81 deals) and proceeds (US$24.5b) both fell by 30% compared with YTD 2019, while EMEIA IPO deal volume (68 deals) and proceeds (US$10.1b) fell 50% and 44%, respectively.

    Asia-Pacific IPO activity rose 2% by deal numbers (270 deals) and rose 56% by proceeds (US$34.9b) compared with YTD 2019.

    The technology, industry and health sectors dominated IPO activity in the first half of 2020

    The technology, industrials and health care sectors dominated in YTD 2020. Technology saw 87 IPOs raise US$17.2b, industrials saw 83 IPOs raise US$9.6b and health care had 76 IPOs that raised US$15.9b.

    Americas deal landscape slows

    US exchanges still accounted for the majority of IPOs in the Americas in the first half of 2020, with 79% by deal volume (64 deals) and 91% by proceeds (US$22.3b); this included five unicorn IPOs.

    The health care and technology sectors continued to have the highest level of IPO activity in the US in YTD 2020, representing 55% and 25% by deal volume, respectively. The health care sector dominated in proceeds (US$10.2b), contributing 46%, from 35 IPOs.

    The Mexican stock exchange posted one IPO valued at US$1.1b, making it the eighth-largest IPO globally in Q2 2020.

    Asia-Pacific IPO activity remains stable

    Although year-on-year YTD 2020 IPO activity in Asia-Pacific rose by deal number (2%) and proceeds (56%), Q2 2020 saw a decline of 18% compared with Q2 2019 by deal number, while proceeds rose by 28%.

    Asia-Pacific exchanges accounted for four of the top five exchanges by deal volume and three of the top exchanges by proceeds. Globally, by proceeds, NASDAQ led YTD 2020, followed by the Shanghai Stock Exchange and Hong Kong Stock Exchange. By deal volume, Shanghai, Hong Kong and NASDAQ markets led the way.

    In Greater China, IPO activity was up 29% by volume (179 deals) and 72% by proceeds (US$30.9b) YTD 2020 compared with YTD 2019.

    In Japan, IPO volume (34 deals) declined 17% YTD 2020, while proceeds (US$625m) dropped by 53%. Australia and New Zealand IPO activity was also down YTD — 41% by volume and 82% by proceeds.

    EMEIA also sees IPO deal slowdown

    After a strong start to 2020, YTD IPOs (42) and proceeds (US$7.8b) declined 47% by volume and 48% by proceeds in Europe, as the COVID-19 pandemic significantly curtailed IPO activity from March through to May.

    In the Middle East and North Africa (MENA), IPO activity was down 11% by volume (8 IPOs) and down 43% by proceeds (US$0.9b) YTD 2020.

    Indian exchanges saw 16 IPOs, which raised US$1.4b YTD 2020, a decline of 61% by deal number and 9% decrease by proceeds. There was also one IPO each on the Malawi and Bangladesh exchanges, which raised US$29m and US$7m, respectively.

    H2 2020 outlook: IPO rebound expected

    Given the COVID-19 outbreak and its negative impact on global economic activities, in the short to medium term, governments around the world will continue to implement policies and stimulate economies against rising unemployment.

    At the same time, central banks will inject more liquidity into the financial systems. Both actions bode well for equity markets and IPO activity in 2H 2020.