The US was the biggest market for TMT IPOs in the last four years with the number doubling in 2021, says GlobalData

The US was the largest market for TMT IPOs between 2018 and 2021 with the number of IPOs doubling last year to make the country the biggest IPO market of all time, says GlobalData, the leading data and analytics company.

Swati Verma, Associate Project Manager for the Thematic Team at GlobalData, comments: “Reverse merger listings have bolstered the US’s global TMT IPO lead with an increasing number of cross-border listings however, the pace of TMT IPO listings in China slowed down due to regulatory crackdown.”

GlobalData’s latest thematic report, ‘Tech, Media, and Telecom IPO Themes 2018 to 2021 – Thematic Research’, reveals that over the 2018–2021 period, the US share of TMT IPOs was 39%, with China at 17% and EMEA accounting for 15%. The report also found that the US captured the biggest share of total IPO proceeds at around 56% with China accounting for 21% during the same period.

The US maintained its lead in the TMT IPO market in 2021 with listings on US exchanges constituting 71% of total IPO proceeds raised worldwide. In contrast, China’s share reduced from 24% in 2020 to 15% due to more stringent regulations.

Verma concludes: “In 2022, we will continue to see successful listings in the US. Reddit (social media), Justworks (cloud), TPG (fintech), Via (ecommerce), and Droom (ecommerce) have already filed for their IPOs in the US. Instacart (ecommerce), Databricks (big data), Flipkart (ecommerce), Chime (fintech), and DataRobot (AI) also have their IPOs in pipeline. We will also see reverse merger listings of Byju’s (edtech), Polestar (electric vehicles), and eToro Group (fintech) in the US.”

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