Data researched by Trading Platforms indicate that the United States IPOs increased by 108.71% between 2019 and 2020 from 195 to 407. This is the highest number in two decades.
Highest U.S. IPO number recorded in 1999
Over the last 21 years, 1999 registered the highest number of IPOs in history at 486, which dropped to 429 in 2000. The number also dropped sharply by 79.48% to 88 in 2003 before rising to 260 in 2004.
In 2007, the number of IPOs rose to 296 before declining by 80.74% to 57 in 2008. This was the lowest number of IPOs in the last two decades. The IPOs slightly rose to 69 in 2009 and then 168 in 2020.
Over the last decade, the IPOs fluctuated to stand at 123 (2011), 132 (2012), 220 (2013), 268 (2014), 162 (2015), 100 (2016), 176 (2017), and 214 (2018).
The report issued a future outlook for the U.S. IPO market after a successful 2020 despite the pandemic. According to the research report:
“The growth should continue as the country returns to normal operations from the pandemic, thanks to the vaccine roll out and increasing investor confidence. Furthermore, with investing becoming more attractive to young people, participation in IPO is expected to grow in-line with the trend.”
Equity Investors Gain N10 Billion Last Week
Investors at the Nigerian Exchange Limited gained N10 billion last week despite losing for three consecutive days.
Investors traded 1.290 billion shares worth N13.921 billion in 16,745 deals on the floor of the Exchange, in contrast to a total of 856.289 million shares valued at N10.752 billion that exchanged hands in 15,663 transactions in the previous week.
In terms of volume traded, the Financial Services Industry led the activity chart with 978.172 million shares valued at N8.300 billion traded in 8,716 deals. Therefore, contributing 75.80 percent and 59.62 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 62.006 million shares worth N1.187 billion in 2,546 deals. In the third place
was Conglomerates Industry, with a turnover of 49.055 million shares worth N126.288 million in 589 deals.
FBN Holdings Plc, United Bank For Africa Plc and Guaranty Trust Holding Company Plc were the three most traded equities, accounting for a combined 626.958 million shares worth N5.766 billion in 2,526 transactions and contributed 48.58 percent and 41.42 percent to the total equity turnover volume and value, respectively.
The NGX All-Share Index appreciated by 18.41 index points or 0.05 percent from 38,943.87 index points recorded in the previous week to 38,962.28 index point last week. Market Capitalization also appreciated by 0.05 percent or N10 billion to close N20.300 trillion, up from N20.290 trillion.
Similarly, all other indices finished higher with the exception of NGX 30, NGX CG, NGX Banking, NGX Pension, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Value and NGX Consumer Goods indices which depreciated by 0.04 percent, 0.36 percent, 0.43 percent, 0.05 percent, 0.72 percent, 0.50 percent, 0.75 percent and 0.04 percent, respectively. While the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
MTN Nigeria to Raise N89.9 Billion Via Bond Issuance
MTN Nigeria Communications Plc (MTN Nigeria) has announced plancs to raise another N89.999 billion through bond issuance under its N200 billion registered shelf programme.
The telecommunications giant stated in a note to the Nigerian Exchange Limited and investing public.
MTN Nigeria said “an application has been submitted to the Securities and Exchange Commission (SEC) for the clearance of transaction documents for MTN Nigeria’s proposed bond issuance valued at N89,999,000,000; Series 2 of the N200,000,000,000 registered shelf programme.”
The telecom company had successfully raised N110,001,000,000 through Series 1 bond in the month of May 2021.
However, it said the final decision on the launch of the Series 2 bond will be taken once all regulatory approvals are obtained, and the investing public will be duly notified.
Access Bank to Issue Another Tier 1 Eurobond
Access Bank Plc, a Nigerian leading commercial bank with operations in 11 African nations, on Friday announced plans to issue an additional Basel III-based perpetual Non-Call 5.25-year benchmark USD-denominated Regulation S/144A Tier 1 bond under the lender’s $1.5 million Global Medium-Term Note Programme.
To ensure success of the Eurobond, Access Bank appointed Citi, J.P. Morgan, Renaissance Capital and Mashreqbank as Joint Bookrunners while Chapel Hill Denham and Coronation Merchant Bank were were appointed as Financial Advisers and Join Bookrunners to arrange a global invetsors call on September 27, 2021 at 2 PM UKT/9 AM NYT.
It would be recalled that Access Bank successfully offered $500 million Senior Unsecured Eurobond under its Global Medium-Term Note Programme on September 13, 2021 and received $1.6 billion bids from global investors. The largest orderbook by a Nigerian bank Eurobond transaction.
Despite tough operating environment and COVID-19 distruption, Access Bank has proven to be one of the most successful banks in Nigeria. The lender grew profit after tax by 42.43 percent in the first half of 2021 to N86.9 billion and paid an interim dividend of N10.6 billion to shareholders.
One of the reasons both local and foreign investors have continue to believe in the growing bank.
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