{ "docId": "019dd923-5de0-76bd-a164-c2e00ba0ff99", "docSlug": "4500dd730a754d3f", "documentTitle": "2022: a record year for MENA IPOs", "authorId": "misc", "authorName": "EY", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 26, "pageCount": 33, "prevPage": 25, "nextPage": 27, "slideType": "industry_trends", "function": "summarize", "density": "dense", "nDataPoints": 6, "notes": "The slide provides a qualitative summary of 2022 IPO market conditions, citing specific percentage declines and contextual drivers like interest rates, energy prices, and geopolitical tensions.", "elementsJson": [ "headline_text", "bullet_list", "photo", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5de0-76bd-a164-c2e00ba0ff99/26", "deckHref": "/decks/019dd923-5de0-76bd-a164-c2e00ba0ff99", "deckJsonHref": "/decks/019dd923-5de0-76bd-a164-c2e00ba0ff99.json", "deckAnchorHref": "/decks/019dd923-5de0-76bd-a164-c2e00ba0ff99#slide-26", "components": [ { "bbox": null, "kind": "callout", "text": "IPOs have slowed to a crawl in 2022, with the number of deals down by 45% and proceeds dropping by 61% compared with a record-breaking year in 2021.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd951-f383-712f-84e6-d0be86296c57", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.65, "w": 0.28, "x": 0.04, "y": 0.16 }, "kind": "image", "text": null, "attrs": null, "subkind": "photo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d8423afe-fbdc-4ede-ba9e-000b3f735bfb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.7, "w": 0.65, "x": 0.31, "y": 0.2 }, "kind": "list", "text": "IPOs have slowed to a crawl in 2022, with the number of deals down by 45% and proceeds dropping by 61% compared with a record-breaking year in 2021. But compared with pre-pandemic 2019, IPO numbers are up by 16% in 2022.\nCompanies have been generally hesitant to come to the market with equity offerings, and the reset in corporate valuations has also discouraged companies from pursuing public listings.\nFinancial sponsors have significantly reduced exit activities, including public listings this year. In 2022, financial-backed IPOs have shrunk to a 20-year low and accounted for only 5% of the total number of IPOs.\nUnder this higher and increasing interest rate environment in 2022, investors are reallocating their portfolios to less risky assets. Company valuations were depressed due to interest rate increases and weak equity prices, which affected many companies' prospective IPO plans.\nThe energy supply shock, pushed energy prices higher and another bout of inflation, with Europe being hit the hardest. This, however, also created a more favorable IPO window for the energy companies to go public, thus boosting IPO activities in the Middle East, China and some ASEAN countries.\nGeopolitically, US-China regulations and government policies, coupled with a slowdown in the US capital market, have significantly halted the flow of Chinese companies listing on the US exchanges. As a result, cross-border IPO activities are down by 61% from 2021.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2cb5d26d-d0fc-4a8e-a83f-f254678dae22", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "IPO deal volume: -45%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd951-f383-712f-84e6-d7ab4453b6c8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.25, "x": 0.05, "y": 0.75 }, "kind": "source-note", "text": "2022 refers to the full calendar year and covers completed IPOs from 1 January 2022 to 5 December 2022, plus expected IPOs by 31 December 2022 (forecasted as of 5 December 2022). Sources: EY analysis, Dealogic.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e71e74a2-b0c2-491b-a8ef-6f4c28b5f8d2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.45, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "Global IPO market: a year in review", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "849beb1e-75da-4a4e-8311-3c5e8933c856", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "List presentation", "slug": "list-presentation", "agent": null, "layer": "slide", "matchId": "9ffa2456-f037-4802-aebe-ff1989142eb0", "evidence": "list/bullet: IPOs have slowed to a crawl in 2022, with the number of deals down by 45% and proceeds dropping by 61% compared with a record-breaking year in 2021.", "confidence": 0.8 } ], "frameworks": [], "arcBeats": [ { "to": 33, "from": 19, "beatId": "cad7818a-5790-48b6-88db-3782393331a9", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The document encourages action with recommendations and contact details.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [ { "to": 27, "from": 23, "name": "Why Now", "slug": "15-why-now", "bestFor": "Sales pitches, fundraising, requesting immediate budget approval", "matchId": "edac87ea-91e0-456d-8d31-52146af4b591", "evidence": "The document discusses global IPO market trends.", "position": 1, "objective": "Why is now a good time for IPOs?", "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity", "confidence": 0.6, "description": "Create temporal urgency by proving that the window of opportunity is opening or closing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }