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.
