PwC Sees IPO Market Pulling Back, Big4.com reports
(PRWEB) June 30, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports on new PwC research that sees the number of IPO pricings slowing in mid-May. Big4.com sees IPO activity stalling due to ongoing global macroeconomic concerns increasing investor uncertainty and market volatility.
Big4.com notes that PwC says excluding Facebook, second quarter IPOs raised total proceeds of $5.2 billion, at an average value of $200 million per IPO, representing an increase of 53 percent over the first quarter average IPO size of $131 million.
Some of the economic concerns include unresolved U.S. domestic, European and Chinese macroeconomic concerns that have led to a broad decrease in U.S. investor confidence in the near term, as evidenced by a quarterly 11 percent increase in the VIX measure of market volatility. Big4.com notes resolution of some of these issues may return some stability to the markets in the coming months.
Henri Leveque, leader of PwC’s U.S. Capital Markets and Accounting Advisory Services comments:
“The IPO market entered the second quarter with considerable momentum and with confidence levels supported by the high registration pipeline,” he says. “However, pricing activity proved unsustainable as volatility increased along with renewed concerns over global uncertainty and other market dynamics. That said, as the markets are seeing increasingly compressed IPO windows of opportunity, our clients are now more than ever focused on readying themselves to be able to execute deals when, and not if, the windows re-open."
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