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Nasdaq Extends IPO Leadership and Welcomes 151 New Listings in First Half of 2018

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Nasdaq was the leading U.S. exchange in total IPOs for the 18th consecutive quarter, raising a total of $15 billion.

Nasdaq Extends IPO Leadership and Welcomes 151 New Listings in First Half of 2018

By Nelson Griggs / President, Nasdaq Stock Exchange

We welcomed a total of 151 new listings in the first six months of 2018 – including 93 initial public offerings (IPOs), raising a total of approximately $15 billion in the U.S. market. With a 69 percent win rate, we have extended our IPO leadership in the U.S. to 18 consecutive quarters.

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Companies from a diverse range of industries and countries have successfully executed their IPOs on Nasdaq this year. Of the top ten tech IPOs by capital raise in 2018 so far, seven listed with Nasdaq, including iQIYI (IQ), GreenSky (GSKY), Dropbox (DBX), DocuSign (DOCU), Bilibili (BILI), and Pluralsight (PS). Driven by the biotechnology and pharmaceutical sectors, healthcare listings momentum continued to build, as Nasdaq saw 39 healthcare IPOs that raised $3.4 billion in the first half of the year.

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Following our strong 2017 for exchange transfers, Nasdaq welcomed a total of six switches* from the New York Stock Exchange (NYSE), with a combined market value of approximately $34.3 billion in 2018. The total market value of all companies joining Nasdaq from NYSE since 2005 has exceeded $1.2 trillion dollars. Company transfers since January 2018 include Extended Stay America ($4.2B), The E.W. Scripps Co ($1B), Avnet ($4.7B) and Xcel Energy ($24.2B).

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We saw a strong pipeline across all sectors in the first half of 2018 and welcomed an incredible number of high-performing IPOs joining Nasdaq. Low market volatility and interest rates encouraged favorable market conditions for companies to tap the public market. We expect to see continued momentum in the second half of the year and look forward to supporting our customers throughout their journeys as public companies.

1H 2018 NASDAQ U.S. LISTING HIGHLIGHTS

• U.S. listings market leadership: 151 new listings, including 93 IPOs, raising a total of approximately $15 billion. The number of IPOs represents a 69 percent increase over the same period last year. For the first six months of 2018, Nasdaq raised more than twice the amount in proceeds compared to the same period in 2017.

• Leading U.S. exchange for technology, healthcare, financials and VC-backed IPOs: Nasdaq maintained its strong track record in technology and VC-backed listings, with win rates of 68 percent and 87 percent, respectively. Win rates of healthcare and financials are 95 percent and 72 percent, respectively.

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• Continued momentum in listing transfers: Nasdaq welcomed 6 switches from NYSE representing a combined $34.3 billion in market value.

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I discussed Nasdaq's recent IPO momentum and the state of the IPO pipeline in a CNBC Squawk Box interview here.

Congratulations to all our recent listings who join our family of innovative companies. We look forward to continuing the momentum in the second half of 2018. Watch highlights of the innovative companies who joined our market in our video recap here.

Data source: Nasdaq, January – June 2018

*Includes all transfers announced and started trading on January 2, 2018

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