How the Big Four Accounting Firms Ranked in the 1Q24 IPO Market

SPAC

The IPO market’s green shoots grew further in the first quarter of 2024, with 30 IPOs raising a combined $7.8 billion, Renaissance Capital reports.

While deal count was in line with 1Q23, proceeds more than tripled, thanks to the continued return of larger offerings.

A rally in returns in March brought the beginnings of a 2024 tech IPO revival.

The Big Four accounting firms appeared on 15 IPOs, including 14 of the 15 $100+ million deals (BDO audited one), representing 50% of total deal count but 97% of the quarter’s proceeds. With every offering requiring audited financials, there were 30 auditing engagements with 15 accounting firms, or 36 with 17 accounting firms including SPACs. Read more.

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