Overview for the quarter for IPO activity
IPO activity increased with 33 listings (raising $1495.5m) in Q2 2017, compared to 26 listings ($232.3m) in Q1 2017. Whilst the capital raised has decreased from the first half of 2016 ($2487.6m), the number of IPOs has increased dramatically by 78.8% from 33 IPOs YTD 2016 to 59 IPOs YTD 2017.
The dramatic increase in the number of IPOs was caused by increases in Materials with 9 IPOs in Q2 2017 compared to 2 IPOs in Q2 2016 and Financials with 7 IPOs in Q2 2017 compared to 2 IPOs in Q2 2016. These two sectors accounted for 47% of all IPOs 2017 YTD compared to 29% in 2016 YTD.
Two out of the top three first-day IPO performers in Q2 2017 have ties to the emerging medicinal cannabis sector – Cann Group and Hydroponics Co.
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