In 2020, 218 IPOs raised $78.2 billion, with both the number of deals and their outsized average returns making it a historic year for IPO investors. While the COVID-19 pandemic sent global markets into a nosedive in March, the IPO window did not stay shut for long. Activity resumed at a rapid pace in the second half, dominated by healthcare and tech. The Big Four accounting firms appeared on 174 of the year's 218 IPOs (80%), which raised 93% of proceeds. Each saw greater activity than the prior year. With every offering requiring audited financials, there were 218 auditing engagements (466 including SPACs) with 23 accounting firms.
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The article The 2020 IPO Rankings for the Big Four Accounting Firms originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
