Combined proceeds raised by Nasdaq's first quarter IPOs totalled approximately $2.6bn, a 20% increase from first quarter figures for 2013. In addition, 98% of these IPOs filed as ‘emerging growth companies’, the new class of issuer created under the Jobs Act.
Nasdaq's first quarter IPOs have returned on average an increase of 28.2% from their offer price, above the market average return for all US IPOs of 24.3%.
Thirty two healthcare companies listed in the first quarter, buoyed by a pipeline of 22 biotech listings. All biotechnology IPOs in the US in 2014 to date have listed on Nasdaq and healthcare IPOs are up an average of 30% from their offer price.
Nasdaq has listed eight financial companies and three technology companies in the first quarter. Its technology IPOs in 2014 are up an average of 53.2% from their offer price to date and 92% of venture capital-backed IPOs have listed with Nasdaq. Venture capital and private equity-sponsored IPOs raised more than $1.9bn in combined proceeds.