1、. Figure 3: 2014-2016 Geographic distributionNumber of IPOs Source: S&P Capital IQ with analysis by PwC Figure 4: 2014-2016 Geographic distributionProceeds Source: S&P Capital IQ with analysis by PwC 8197453711179302310 9018 16Europe w/o UK Asia w/o China UK China US01020304050No. of IPOs2014 2015 2
2、016No.ofIPOs$3,570$7,298$3,277$29,063$7,850$3,176 $3,381$7,811$4,074$8,396$3,674 $1,833$0 $1,438 $1,800Europe w/o UK Asia w/o China UK China US$0$5,000$10,000$15,000$20,000$25,000$30,000$35,000Proceeds raised2014 2015 2016US$ millionsGlobal Technology IPO Review Full-year and Q4 2016 6 Tech IPO acti
3、vity in Europe remained brisk in 2016 despite challenges in other markets Tech IPO activity in Europe, excluding the UK, remained brisk in 2016 despite challenges elsewhere. There was broad distribution across eight countries, including Denmark, which had the largest tech IPO of the year. Overall, E
4、urope contributed three of the largest tech IPOs of 2016. Figure 5: Full-year 2016 European tech IPOs Source: S&P Capital IQ with analysis by PwC “The European market proved to be notably strong in 2016, in spite of the migration crisis and the Brexit referendum. The expansionary monetary policy in
5、place led investors to look for alternatives to the low interest rate environment. This was translated positively to the European capital market. With US$3,674 million in total proceeds, we experienced in Europe the largest volume of tech IPOs worldwide.“ Werner Ballhaus Technology, Media and Teleco
6、mmunications Industry Leader, PwC Germany Global Technology IPO Review Full-year and Q4 2016 7 Lack of big-ticket IPOs pushed average proceeds down to a seven-year low It was not a year for high-flying tech IPOs, with only two US$1 billion-plus offerings. This reduced average proceeds to a level not
7、 seen since 2010. However, the majority of tech companies going public in 2016 were long-standing enterprises with histories of strong financial performances. Figure 6: 2010-2016 Average proceeds Source: S&P Capital IQ with analysis by PwC $165 $182$336$179$434$295$1651098769641189253020406080100120
8、140$-$50$100$150$200$250$300$350$400$450$5002010 2011 2012 2013 2014 2015 2016Average proceeds No. of IPOsUS$ millionsNo.ofIPOsGlobal Technology IPO Review Full-year and Q4 2016 8 Internet Software & Services (IS&S) and Software subsectors remained the growth engine for tech IPOs, with 32 IPOs raisi
9、ng US$4.7 billion The largest IPO of the year was an IT Consulting & Services company, Nets A/S of Denmark, which raised US$2.4 billion. But the pivotal subsectors for tech IPOs were Internet Software & Services and Software, with a combined 32 IPOs and proceeds of US$4.7 billion. Figure 7: Full-yea
10、r 2016 subsector distribution Source: S&P Capital IQ with analysis by PwC $4,655$517 $41 $239$3,000$29332 8 1 2 5 5 -5101520253035Internet Software& Services andSoftwareSemiconductors ComputerStorage &PeripheralsCommunicationsEquipmentIT Consulting &ServicesElectronics$-$1,000$2,000$3,000$4,000$5,00
11、0$6,000Total proceeds (US$mn) Number of IPOsUS$millionsNo.ofIPOsGlobal Technology IPO Review Full-year and Q4 2016 9 Compared to the previous six years the Internet Software & Services and Software subsectors experienced a pullback in 2016 with the second lowest proceeds and number of IPOs in the de
12、cadeFigure 8: 2010-2016 IPOs for the Internet Software & Services and Software subsectors Source: S&P Capital IQ with analysis by PwC $3,369$8,679$20,172$7,297$40,620$19,508$4,65522 38 34 42 82 56 32 -1020304050607080902010 2011 2012 2013 2014 2015 2016$-$9,000$18,000$27,000$36,000$45,000IS&S and Software - Total proceeds IS&S and Software - No. of IPOsUS$millionsNo.ofIPOs
