A Lens Into the Midwest IPO Markets

The Midwest IPO market had an encouraging four IPOs price in Q2 ‘20 despite the volatility that we have been seeing as a result of the pandemic. Though there is still lingering uncertainty regarding the effect of the pandemic on financial markets worldwide, there is still much optimism projecting itself in the equity markets as we head into the second half of the year.

In the Midwest, we continue to interact with a variety of companies across all industries as they look towards their path to liquidity. Additionally, we are seeing a number of companies looking to enter the capital markets as we assist them with IPO readiness and IPO execution. 

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Offering volume and value of Midwest IPOs by quarter

• The Midwest market had a total of four IPOs that raised over $1.7 billion.
• The volume of companies pricing ended up being comparable to last year due to a strong push at the end of the quarter, which compensated for the initial slow start where we saw a number of IPOs temporarily put on hold.

Volume and value of Midwest IPOs by sector 

• Leading in cumulative IPO value for the Midwest, the Technology, Media and Telecommunications (“TMT”) sector raised nearly $1 billion across two IPOs in Q2 '20. 
• Several months after the pandemic hit, IPOs returned to the market in June with a broader range of sectors amid recovering issuer and investor confidence.

Comparison of Q2 IPO Activity Year-Over-Year in the Midwest

Additional IPO Insights

Mid-year 2020 Capital Markets Watch

After months of relative quiet, the US IPO market rebounds. What to watch as issues look to reopen the IPO window. 

The 2020 IPO comeback: What previous rebounds tell us

What will the company that reopens the market look like in the way of scale, profitability and business model?

Video: What to expect from IPOs through the end of 2020

Watch Yahoo Finance's The Final Round to discuss the 2020 IPO market and outlook for IPOs through the end of the year.

Considering an IPO? Insights into the cost of going public

Having a realistic expectation of the costs can help improve the budgeting process, limit surprises and reflect a well-structured IPO timeline.