Wall Street is the new leader of IPOs for 2017
The New York Stock Exchange has made more money from public companies than any other market in 2017. Wall Street’s IPOs amounted to 33.4 billion USD, reversing the US leadership. In 2015 and 2016, the first place was for the Hong Kong Stock Exchange, but last year it lags behind and finishes fourth after Shanghai and Nasdaq.
Among the largest companies that are listed in Wall Street in 2017 are the owner of Snapchat and the Netherlands-based telecommunication company Altice. As a result, the US IPOs are worth 49 billion USD, compared to 24 billion USD in 2016.
Only Snap has earned 3.9 billion USD, which makes it the largest technology IPO in the US since the listing of Alibaba in 2014. The company raised its share price by 73% in the first days of trading, but then dropped its value below its initial public offering of 17 USD per share.
The appetite for IPOs will depend on whether stock markets will be able to keep their inertia. In the coming years, two large listings are expected – Saudi state oil giant Saudi Aramco and technology company Uber.
The Saudi state-owned oil company is the largest in the world and Riyadh authorities expect its primary public offering to estimate it at nearly 2 trillion USD. It will have a value five times greater than Exxon Mobil. The Executive Director Amin Nasser has confirmed that expecting an IPO this year, but Saudi Arabia still has to decide which stock market to choose. According to Nasser, the authorities hesitate between New York, London, Hong Kong and Tokyo.
Even US President Donald Trump has called on Twitter Riyadh to choose Wall Street, which he believes will be “important to the US”.
The CEO of Uber, Dara Khosrowshahi, has also confirmed that the company has planned IPO in 2019.