The fall IPO calendar is buzzing, with a host of widely anticipated businesses set to list, including Rivian and InstaCart. It's already been a golden year for equity financing through the IPO process in the United States. So far, 2021 has been on course to surpass last year's record.
By the end of September, 19 firms had raised over $1 billion through initial public offerings on the Nasdaq and the New York Stock Exchange. Coupang (CPNG) raised $4.6 billion, DiDi Global (DIDI) raised $4.4 billion, Bumble (BMBL) raised $2.5 billion, Robinhood Markets (HOOD) raised $2.3 billion, and AppLovin (APP) raised $2.0 billion, rounding out the top five.
By the end of 2020, 15 firms had raised $1 billion or more through IPOs, with another eight joining them by the end of the year. Snowflake (SNOW), Airbnb (ABNB), and DoorDash (DASH), the top three, have raised $3 billion to $4 billion.
Companies have raised a total of $98.0 billion through the IPO process on US exchanges this year through September. This includes Didi Global (Didi), Oatly (OTLY), and Full Truck Alliance (YMM), all foreign issuers of American Depository Receipts.
This year's $98.0 billion is up from $69.9 billion through September 2020. Last year, a record $102.5 billion in equity was raised, a figure that will almost certainly be surpassed this year by the end of October. The previous high was $87.7 billion in 2014. It included the largest U.S. IPO ever, Alibaba (BABA), which garnered a massive $25.0 billion.
When it comes to this year's IPOs, technology and health care raised the most money. In contrast, utilities and energy raised the least, according to the Bloomberg Industry Classification Systems, or BICS.
Some of the most anticipated IPOs for Q4 2021 and early 2022 are Stripe, Rivian Automotive, Reddit, and InstaCart.
For those looking to trade new listings, Kathy Donnelly, a proprietary trader and co-author of "The Lifecycle Trade," advises not to rush to get in on the first two days as over 90 percent of stocks end up undercutting their first trading day price low.