November was the best month for IPOs on US stock markets since June 2001, with 32 companies from around the world raising a combined $8bn, according to figures from Dealogic.
The strong showing testifies to the health of the US capital-raising environment, in spite of recent fears that over-regulation was hurting the competitiveness of US capital markets. For the year so far, deal volume is up by 19 per cent on last year.
Of the top 10 US offerings last month, three were by overseas companies – Aercap Holdings from the Netherlands, Grupo Aeroportuario del Centre Norte from Mexico and North American Energy Partners from Canada. The flotations by overseas groups suggest the recent measures by US markets to stem the flow of listings business overseas may be starting to pay off.