IPOs on New York Stock Exchange diminish over last two years



According to ADVFN (www.advfn.com), the stocks and investment website, flotations on the New York Stock Exchange fell by more than a quarter during the two-year study. Between June 2004 and May 2005, 135 companies listed on NYSE; an average of 11 a month. This figure dropped to 99 for the same period of the following year - a monthly average of eight. However, the value of the Initial Public Offerings (IPOs) remained consistent with the average money raised by companies actually slightly more in the latter period at $380 million, up from $379 million in the first period. Between June 2005 and May 2006 the total value of IPOs was $37.68 billion; a year earlier a total of $51.16 billion was raised.

December and October 2004 had the most IPOs, with both months seeing 17 listings; in contrast January 2006 saw just three. For both periods, the financial sector saw the highest number of flotations. This sector accounted for 53% (72) of all IPOs between June 2004 to May 2005 and 37% (37) of IPOs from June 2005 to May 2006.

The industrial sector saw the second-most number of IPOs in the first period (9%), but oil- and gas-related companies were the second-most dominant group in the second period of study with 15% of listings coming from this sector as compared with just 4.4% in the previous year. Notably there were no telecoms IPOs between June 2005 and May 2006.

The largest flotation during the two-year period was MasterCard Inc which raised $2.4 billion on May 25th 2006.

's8220;This survey reveals a rather worrying trend for the NYSE, especially as the IPO market outside of the US is buoyant at present,'s8221; said Clem Chambers, CEO of ADVFN. 's8220;It appears that the concerns of John Thain are coming to pass and excessive regulation is beginning to drive both domestic and foreign listings away from the US. It's8217;s bad news for US investors and indicates why both NYSE and Nasdaq are trying to buy exchanges offshore.'s8221;

NOTES TO EDITORS

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IPOs on New York Stock Exchange diminish over last two years