Data presented by Trading Platforms indicates that 2020’s top ten IPOs raised about $21.5bn in total. The figure is at least 8.5 times less compared to the top ten biggest IPOs in history that cumulatively raised about $184.65bn.
IPOs raise significant amount despite pandemic
Vacation rental platform Airbnb had the largest IPO of 2020 after raising $3.51bn, representing about 16.2% of the total amount raised by the top ten IPOs last year. Delivery service Doors Dash ranks second with $3.37bn followed by Snowflakes at $3.36bn.
Big data analytics company Palantir had the fourth-highest IPO at $2.57bn followed by Warner Music Group that raised $1.93bn.
Rocket Companiesriased $1.8bn followed by Chinese electric vehicle manufacturer Xpeng that raised $1.5bn followed by Unity Software with $1.3bn. Healthcare firm GoodRx Holdings raised $1.14bn. Chinese electric vehicle manufacturer Li Auto had the tenth biggest IPO raising $1.09bn.
The research highlighted some of the drivers behind the 2020 ICO frenzy despite the coronavirus pandemic.
According to the research report: “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 $25.6bn. Online retail giant Alibaba ranks second at $21.77bn, followed by Softbank Corp at $21.35bn. NTT Mobile ranks fourth after raising $18.1bn while Visa raised $17.86bn.
Insurance firm AIA raised $17.78bn followed by ENEL SpA at $16.45bn while social media giant Facebook ranks eight at $16.01bn. General Motors is ninth with $15.77bn. In the tenth spot Industrial and Commercial Bank of China Limited (ICBC) raised about $13.96bn in 2006.