{
  "docId": "019dd923-5e88-73ef-bd58-4cd5904d1686",
  "docSlug": "008f4cca08621057",
  "documentTitle": "ey q2 2020 global ipo trends report v1",
  "authorId": "MorganStanley",
  "authorName": "EY",
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  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
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  "orientation": "landscape",
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  "pageNumber": 22,
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  "slideType": "market_landscape",
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  "nDataPoints": 24,
  "notes": "The slide combines qualitative market commentary with quantitative performance metrics for the European IPO market.",
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      "kind": "callout",
      "text": "As investors and IPO candidates alike learn that location is less important in a virtual, borderless world, we expect a potential shift in cross-border IPO activity.",
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      "kind": "chart",
      "text": "Number of IPOs and Proceeds (2016-2020 YTD)",
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      "kind": "disclaimer",
      "text": "Indicates transactions that are expected to be completed prior to 30 June 2020. All amounts in US$.",
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      "kind": "list",
      "text": "We expect to see a rebound in IPO activity in the second half of 2020. The attention of policymakers and finance ministers is turning from rescue to recovery. However, there is a risk of an increase in infection rates. The IPO pipeline for 2H 2020 will likely include technology, pharmaceutical and life sciences sectors. There may also be a number of spinoffs and other transaction strategies. In Europe, if volatility levels continue to trend down and if major equity indices remain high, we expect IPO activity to improve in the second half of 2020. In the UK, IPOs that were expected to be postponed until 2021 are now more optimistic about listing in the second half of 2020. In MENA, we expect investor sentiment to remain cautious in the second half of 2020 and IPO markets to take their time rebounding. In India, once capital markets rebound, we may see both PE exits and other IPOs that had planned to go public between March and December 2020 come back into play. Post-crisis, IPO candidates should expect the digital formats adopted during the pandemic to remain.",
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    {
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      "kind": "metric",
      "text": "IPO proceeds: $7.8b",
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      "toolName": "Quantification",
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      "componentId": "019dd952-2e39-7343-a582-9bac0aa5701e",
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      "kind": "table",
      "text": "Markets: 42 IPOs (-47%), $7.8b proceeds (-48%). Main markets: 19 IPOs (-49%), $7.5b proceeds (-48%). Junior markets: 23 IPOs (-45%), $0.3b proceeds (-56%).",
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      "kind": "table",
      "text": "Activity YTD 2020: Sectors by number of IPOs (Tech, Health care, Consumer staples), IPOs largest by proceeds (JDE Peet's, China Pacific Insurance, GVS), Stock exchanges by total proceeds (Euronext, London, Borsa Italiana).",
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      "kind": "title",
      "text": "Europe IPO snapshot",
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      "kind": "title",
      "text": "Europe, Middle East, India and Africa IPO market outlook",
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      "evidence": "The document provides various data and insights on IPO market performance across regions (p5-24).",
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      "name": "Cost Of Inaction",
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      "evidence": "The document discusses the decline in IPO activity due to COVID-19 and the potential consequences of inaction (p7-23).",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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