Bruce V. Bigelow
A study released today by Ernst & Young shows that 53 companies submitted the necessary paperwork during the fourth quarter of 2009 to hold initial public offerings—the highest number of new registrants in a quarter since 2007.
At of the end of December, Ernst & Young counted 54 companies in the U.S. that were ready to go public—and are seeking to raise a total $10.3 billion. There have been quarters with many more IPO filings over the past two years. And there have been quarters in which companies sought to raise more capital.
But the sharp increase in the number of companies seeking to go public was viewed as a resurgence in IPO activity by Jackie Kelley, Ernst & Young’s Americas IPO leader, based in Irvine, CA. “This is probably one of our most optimistic quarters in the past two years,” Kelley says. “The more that register, and the more that are in the pipeline means that more deals are likely to get done.”