New Delhi: At a time when the US markets are facing tough market conditions, the initial public offer (IPO) activity in the States reported a healthy second quarter with as many as 71 issues and the period also spelt good for overseas firms, including China and India.
Foreign registrants were in a strong position in the total value of the IPOS in the US with the volumes being driven by China which accounts for eight of the 13 issues, while India boasts of the single largest issue worth 1.8 billion dollar, a latest report by global consultancy fund Price Water Housecoopers (PWC) has said.
Foreign registrants are firms from places other than the US making initial public offerings in the states and listing their shares on the us bourses.
"Non-US issuers were active in the second quarter listing 13 IPOS that raised 3.9 billion dollars, a sharp increase from the five IPOS that generated 837 million dollar in the same period the previous year," PWC said in its latest US IPO watch.
Other than Chinese and Indian offers, the non-us IPOS comprise of companies from Argentina, Greece, Israel and the Netherlands.
The US IPO watch is a quarterly survey of all the IPOS listed on us exchanges, which include issues made by domestic and foreign companies, business development companies and bank demutualisations. This survey captures IPOS listed between April 1 and June 30 this year.
Chinese IPOS account for 39 per cent or 1.5 billion dollar of the total proceeds raised by non-us issuers while India's Sterlite Industries was the largest offering raising proceeds worth 1.8 billion dollar on the New York Stock exchange, the report added.
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