The U.S. Is Back on Top in IPOs

China gains too, as Western Europe and the U.K. see their shares decline.


American markets may be down, but they are holding their own on the global IPO scene. Even in the midst of a financial crisis triggered by their own excess, U.S. companies accounted for 40 percent of the $76.46 billion IPO market through August 15, according to Dealogic. That’s up from 21 percent of the $171.65 billion for the comparable period of 2007 and near the recent peak of 44 percent in 2001, achieved just after the tech boom ended. The U.S. market got a big boost from the record Visa IPO in March. Western Europe’s share of IPOs fell to 7 percent from 17 percent, and the U.K.’s dropped to 2 percent from 8 percent. Who else benefited? China, of course. Its share rose to 20 percent from 18 percent. The $5.7 billion IPO of China Railway Construction in March was the second-largest deal of the year. IPO volume is down 55 percent this year on a global basis, but some markets are weathering the storm better than others.