Quarterly IPO Activity Increases for First Time Since 2007

Authored by Mark Hefflinger on July 15, 2009 - 7:17am.

New York - U.S. companies raised $1.6 billion through 12 initial public offerings (IPOs) during the second quarter, marking the first quarterly increase in IPO activity since the fourth quarter of 2007, according to a new report by PricewaterhouseCoopers.

"A few select companies were able to take advantage of the capital markets which started to improve in late March," said Scott Gehsmann, a capital markets partner in PwC's Transaction Services practice.

"As we move toward the later part of the year, we will see more companies testing the IPO waters."

The downward trend in IPO volume started in the first quarter of 2008 and reached its lowest point in the first quarter of 2009, where there were just two IPOs.

*Disclosure: PricewaterhouseCoopers is a sponsor of Digital Media Wire.

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