Over $21B Raised by 10 biggest IPOs of 2020, 8.5x Less Than 10 Biggest IPOs In History
The research highlighted some of the drivers behind the 2020 ICO frenzy despite the coronavirus pandemic...
Data presented by Trading Platforms indicates that 2020’s top ten IPOs raised about $21.57 billion in total. The figure is at least 8.5 times less compared to the top ten biggest IPOs in history that cumulatively raised about $184.65 billion.
IPOs raise significant amount despite pandemic
Vacation rental platform Airbnb had the largest IPO of 2020 after raising $3.51 billion, representing about 16.2% of the total amount raised by the top ten IPOs last year. Delivery service Doors Dash ranks second with $3.37 billion followed by Snowflakes at $3.36 billion.
Big data analytics company Palantir had the fourth-highest IPO at $2.57 billion followed by Warner Music Group that raised $1.93 billion.
Rocket Companiesriased $1.8 billion followed by Chinese electric vehicle manufacturer Xpeng that raised $1.5 billion followed by Unity Software with $1.3 billion. Healthcare firm GoodRx Holdings raised $1.14 billion. Chinese electric vehicle manufacturer Li Auto had the tenth biggest IPO raising $1.09 billion.
“In general, 2020 was a boom for IPOs with notable drivers, including the rise of special purpose acquisition company (SPAC). SPACs are more established with high-profile companies going public through this vehicle. Other drivers include the focus on technology, e-commerce, and healthcare that provided solutions in the course of the pandemic. Furthermore, companies listed last year benefited from low-interest rates, eventual economic recovery, and a rollout of vaccines.”
The Trading Platform research overviewed the ten biggest IPOs in history where Saudi Aramco ranks top at $25.6 billion. Online retail giant Alibaba ranks second at $21.77 billion followed by Softbank Corp at $21.35 billion. NTT Mobile ranks fourth after raising $18.1 billion while Visa raised $17.86 billion.
Insurance firm AIA raised $17.78 billion followed by ENEL SpA at $16.45 billion while social media giant Facebook ranks eight at $16.01 billion. General Motors is ninth with $15.77 billion. In the tenth spot Industrial and Commercial Bank of China Limited (ICBC) raised about $13.96 billion in 2006.