Nasdaq Welcomes 66 IPOs in the First Half of 2024
Nasdaq (NDAQ) announced it welcomed 66 IPOs in the first half of 2024, raising $8.7 billion. This included 53 operating companies and 13 SPACs, reflecting a 71% win rate of Nasdaq-eligible IPOs in the U.S. market. In addition, 7 companies transferred their listings to Nasdaq, including Science Applications International Corp (SAIC) with a market cap of $7.4 billion. Notable listings included Waystar (largest U.S. company IPO), Kaspi.kz (first Kazakhstan IPO in the U.S.), and Astera Labs (largest semiconductor IPO). Nasdaq continued to lead in healthcare, technology, and biotech sectors, with 100% of eligible biotech companies listing on Nasdaq. Around 30 international companies also chose Nasdaq, contributing to nearly 50% of total IPOs. In the SPAC market, Nasdaq hosted 81% of eligible SPAC IPOs, raising $1.8 billion, and completing 35 SPAC business combinations. The IPO Pulse Index indicates continued momentum for listings in the coming months.
- Nasdaq welcomed 66 IPOs in H1 2024, raising $8.7 billion.
- 53 operating companies and 13 SPACs listed on Nasdaq.
- 71% win rate of Nasdaq-eligible IPOs in the U.S. market.
- Seven companies transferred to Nasdaq, including SAIC with $7.4 billion market cap.
- Largest U.S. company IPO (Waystar) and semiconductor IPO (Astera Labs).
- 100% of eligible biotech companies listed on Nasdaq.
- 30 international companies listed, nearly 50% of total IPOs.
- 81% of eligible SPAC IPOs raised $1.8 billion.
- 35 SPAC business combinations completed, representing an 85%-win rate.
- None.
Insights
Nasdaq's announcement of welcoming 66 IPOs in the first half of 2024, raising a total of
What stands out is the mention of the Nasdaq IPO Pulse Index signaling positive momentum for the remainder of 2024. Investors should note that this index provides a quantitative assessment of market conditions and IPO activity, hinting at continued market vitality. The fact that Nasdaq maintained a 71% win rate of eligible operating company IPOs in the U.S. market emphasizes its dominance and appeal, important for investors seeking stable and lucrative investment avenues.
Also notable is the sector performance. Nasdaq remains the leading U.S. exchange for healthcare, technology and biotech IPOs, which are sectors with high growth potential. The inclusion of sector-defining companies like CG Oncology and Brightspring Health Services underlines this leadership. Retail investors should consider this a positive indicator, as these sectors are often at the forefront of innovation and can offer substantial returns in the long term.
In a broader context, the transfer of high market cap companies like SAIC to Nasdaq illustrates confidence in the exchange’s listing services, potentially attracting more significant transfers and listings in the future. This move not only boosts Nasdaq's profile but also enhances investor confidence in the stability and strength of its listed companies.
Investors should watch for the continued influence in the SPAC market as well, with Nasdaq welcoming 81% of all eligible SPAC IPOs. The dominance in SPAC listings and business combinations indicates a strategic advantage in this arena, often appealing to investors looking for diverse portfolio options.
The news about Nasdaq's impressive IPO performance in H1 2024 and the positive outlook provided by the IPO Pulse Index is a clear indicator of a strong and growing market. For retail investors, these insights underscore the bullish trend in IPO activity, suggesting a fertile environment for new investment opportunities.
The significant number of international companies choosing Nasdaq for their listings is particularly noteworthy. Approximately 30 international companies making up nearly
Another point of interest is Nasdaq's sustained leadership in the technology, healthcare and biotech sectors. These industries are innovation-driven and typically offer high-growth potential. The consistent listing of all eligible biotech companies on Nasdaq demonstrates strong sector-specific trust in the exchange, which retail investors can view as a positive signal for future investments in these areas.
The successful transfer of companies like SAIC with substantial market caps to Nasdaq further solidifies its position as a preferred exchange. This kind of movement can positively impact investor sentiment, as it reflects a stable and attractive marketplace for significant corporate entities.
It's also important to highlight Nasdaq’s evolving issuer advocacy through initiatives like Elevate. This demonstrates a commitment to addressing key regulatory and operational challenges faced by publicly traded companies, which can enhance transparency and stability in the market, ultimately benefiting retail investors.
Featured the largest U.S. company IPO and switch
Nasdaq IPO Pulse Index signals positive outlook for remainder of 2024
NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) announced today that in the first half of 2024, it welcomed 66 initial public offerings (IPOs), raising a total of
“The first half of the year has been off to a strong start with several high-profile and sector-defining listings, and we are proud to be the exchange of choice for the largest U.S. company IPO, switch from another exchange, SPAC listing, and SPAC combination,” said Karen Snow, Global Head of Listings at Nasdaq. “Looking back at the second quarter of this year, IPO market activity reached its highest level for the first time in nearly three years. The recent listings volume is consistent with our recently launched IPO Pulse index that suggests listings momentum should remain in an uptrend in the coming months.”
A video accompanying this announcement is available at: https://vimeo.com/nasdaq/2024-midyear-listings
2024 FIRST HALF NASDAQ U.S. LISTINGS HIGHLIGHTS
- U.S. listings market leadership: Nasdaq welcomed 66 IPOs, raising
$8.7 billion . Marquee listings include Waystar (largest U.S. company IPO), Kaspi.kz (first IPO and dual listing from Kazakhstan), and Astera Labs (largest semiconductor IPO on a U.S. exchange). Additionally, Nasdaq featured 7 switches in the first half of 2024, totaling$9.6 billion in market cap- including the largest exchange transfer on a U.S. exchange year-to-date with Science Applications International Corp (SAIC). - Leading U.S. exchange for healthcare, technology and biotech IPOs: Nasdaq maintained its strong track record in the healthcare, technology and biotech sectors. Further,
100% of eligible biotech companies listed on Nasdaq, including CG Oncology, the largest biotech listing so far this year. Other sector-defining listings include Brightspring Health Services, which began trading on Nasdaq earlier in January. - Attracting innovative companies from around the world: Approximately 30 international companies chose to list on Nasdaq in the first half of 2024, making up nearly
50% of total IPOs year-to-date, along with 7 dual listings. These include Super Hi International (Hong Kong), Marex (United Kingdom), Ferrovial (Spain) and Webtoon (South Korea). - Helping companies join the public markets via SPACs: Nasdaq continued its influence in the SPAC market, welcoming
81% of all eligible SPAC IPOs, raising$1.8 billion and including the largest SPAC listing of the year with Churchill Capital Corp IX. A total of 35 SPAC business combinations also listed in the first 6 months of 2024, representing an85% -win rate in the U.S- including the largest SPAC business combination of the year with Lotus Technology Inc. - Evolving issuer advocacy with Elevate: Nasdaq has long advocated on issues impacting publicly traded companies and is committed to elevating the experience of all issuers to support the continued health and relevancy of the public company model. Read our recent “Elevate” report here that focuses on five priority areas: short selling disclosures, proxy advisory reform, proposed PCAOB audit rule changes, cyber incident disclosures, and climate disclosures.
- 50th Nasdaq London Investor Conference: Last month, Nasdaq celebrated its 50th London Investor Conference, well-recognized as one of the leading U.S. Equities events in Europe. It convened 21 Nasdaq-listed companies and more than 200 investors to discuss key investment themes to help facilitate the growth and advancement of companies and investors in the capital markets community.
- Major Nasdaq listing anniversaries and milestones: Nasdaq celebrated the listing anniversaries of Copart, Inc. (30 years), NVIDIA Corporation (25 years), Alnylam Pharmaceuticals, Inc. (20 years), JD.com (10 years), Sanofi (5 years), Zoom Video Communications, Inc. (5 years), and the first listing anniversary of Nextracker, among many others.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
Nasdaq Media Contact
| Peter Gau (201) 388-9682 Peter.gau@nasdaq.com | Sophia Weiss (646) 483-6960 Sophia.weiss@nasdaq.com |
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FAQ
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