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  "documentTitle": "ey global ipo trends q4 2019",
  "authorId": "MorganStanley",
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  "notes": "Includes data on IPO volume, proceeds, sector breakdown, and market performance metrics.",
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      "kind": "callout",
      "text": "Although the number of IPOs and proceeds are down year-on-year from 2018, US IPO markets continue to perform well.",
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      "text": "2019 activity: 165 IPOs, $50.0b proceeds, 55% sponsor-backed",
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      "text": "Highlights from the market: IPOs down YoY, Health/Tech sectors dominate, US remains top destination for cross-border, 55% sponsor-backed.",
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      "text": "Outlook: Election year volatility, active IPO environment expected, direct listings increasing, investor discipline on valuations.",
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      "text": "IPO proceeds: $50.0b",
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      "text": "Cross-border IPOs: Greater China, Europe, Israel, Others",
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      "text": "Trends: Median deal size, Median post-IPO market cap",
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      "text": "Largest IPOs by proceeds: Uber, Avantor, Lyft, XP, Pinterest",
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      "text": "Sectors by number of IPOs: Health care, Technology, Financials, Energy, Real estate",
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      "text": "Performance 2019: IPO pricing, Equity indices, Volatility index",
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      "text": "Americas – US IPO market insight",
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