Study: IPOs decline 8 percent year-over-year in second quarter

Study: IPOs decline 8 pct in second quarter

NEW YORK — Hoover’s Inc. said Monday the number of U.S. initial public offerings decreased 8 percent in the second quarter compared with a year earlier.

The drop followed a significantly larger year-over-year decline of 83 percent in new offerings in the first quarter.

In the latest quarter, Hoover’s said 12 companies went public on the major U.S. stock exchanges, raising $1.6 billion, compared with the $4.2 billion raised by 13 companies in the year-ago period.

So far this year, U.S. IPOs have raised just $2.3 billion through 14 deals, down 90 percent from the first six months of last year, when 25 IPOs raised $23.1 billion.

Visa’s first-quarter IPO last year represents $17.9 billion of that total.

“There are some signs of life on the horizon, however, from a few IPO hopefuls within the mortgage and banking industries,” noted Tim Walker, Hoover’s industry expert, in a release.

He noted that three companies from the sector filed to go public in the second quarter, looking to raise more than $500 million each.

Hoover’s analyzes the IPO market daily to produce the quarterly IPO Scorecard.