More Healthcare Companies Go Public In 2020 Than Prior 5 Years

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More Healthcare Companies Go Public In 2020 Than Prior 5 Years

According to a recent S&P Global Market Intelligence analysis, more healthcare companies went public in 2020 than they did in the past five years as the COVID-19 pandemic increased investor demand in the sector. In 2020, a total of 263 healthcare companies went public, up from 180 in 2019.

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Q4 2020 hedge fund letters, conferences and more

Key highlights from the analysis include:

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  • Gross proceeds from IPO activity more than doubled year over year to $43.46 billion in 2020. In the last quarter of 2020 alone, companies raised $13.75 billion in IPO activity.
  • IPO activity in the healthcare sector remained robust during the closing months of 2020, with companies raising $13.75 billion during the last quarter.
  • San Diego-based Maravai LifeSciences Holdings Inc.'s IPO was the largest for the fourth quarter of 2020, raising about $1.86 billion in proceeds.
  • Among the 17 largest IPOs for the fourth quarter tracked, eight companies that went public during the period operate in the biotechnology space.

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Healthcare Companies Going Public In Hong Kong

"I think investors in Asia recognize [biotech] is a vital industry for the future," Brad Loncar, a biotech investor and CEO of Loncar Investments, told Market Intelligence. Healthcare listings in Hong Kong, which is the largest market in Asia and the second-largest in the world for biotech IPOs, could be over 30 in 2021, Irene Chu, Hong Kong-based partner and head of new economy and life sciences at consultancy KPMG China, told Market Intelligence.

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Goldman Sachs & Co. LLC and Goldman Sachs (Asia) LLC, which are part of Goldman Sachs Group Inc., acted as underwriters on the majority of the top-ranking healthcare IPOs in North America and Asia, respectively, during the fourth quarter of 2020. New York-based Credit Suisse Securities (USA) LLC and Jefferies LLC served as underwriting banks for IPOs by four companies each in North America. Among the Asian IPOs, JPMorgan Chase & Co.'s J.P. Morgan Securities PLC and J.P. Morgan Securities (Asia Pacific) Ltd. were underwriters for three offerings each.

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A quarterly report by EY tracked 1,363 IPOs during 2020 worldwide, up 19% over 2019, while proceeds from the offerings totaled $268 billion, a year-over-year increase of 29%. Following the technology and industrials sectors, healthcare took the third spot in terms of IPOs, with 235 offerings totaling $50.4 billion in value.

Read the full article here by S&P Global Market Intelligence

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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