The Best IPOs Of 2016
WASHINGTON (dpa-AFX) - 2016 has not been a rosy year for most initial public offerings.
In fact, this year was the slowest for IPOs in the U.S. since 2009.
The IPO volume has also been low this year due to the U.S. presidential election, worries about Brexit, easy availability of private capital, and uncertainty about a rate hike by the Federal Reserve, among other factors.
According to data provided by Renaissance Capital, manager of IPO-focused ETFs, there have been 97 IPOs priced in the U.S. so far this year, down 42.9 percent compared to the 2015 IPO count of 170.
Total proceeds raised by IPOs in the U.S. was $17.3 billion in 2016, representing a 41.9 percent decrease from last year.
Thanks to the presidential election and Thanksgiving, the U.S. IPO market had another slow three weeks so far in November. December is also historically a slow period for new listings due to the holidays and year-end slowdown.
Nevertheless, some stock offerings have fared strongly in their debut this year. As 2016 draws to a close, here is a list by streetinsider.com of the best-performing IPOs of the year so far. Tech and biotech offerings have recorded stellar performances.
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