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  "docId": "019dd923-5e88-73ef-bd58-dc60a93c3154",
  "docSlug": "48a731e2d1ddcc99",
  "documentTitle": "ey global ipo trends q4 2019",
  "authorId": "MorganStanley",
  "authorName": "EY",
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  "notes": "Includes data on cross-border IPOs, median deal sizes for main vs junior markets, and breakdown of IPO sources by investor type.",
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      "kind": "callout",
      "text": "In EMEIA main markets, single-digit first-day returns and double-digit post-IPO performance in 2019 YTD should give a boost to investor sentiment going into 2020.",
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      "text": "Percentage of IPOs by source 2015-2019",
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      "kind": "chart",
      "text": "Sources of IPOs: Percentage of proceeds vs Percentage of IPOs",
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      "kind": "chart",
      "text": "EMEIA issuers' cross-border activity",
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      "kind": "disclaimer",
      "text": "There were 251 IPOs by EMEIA issuers in 2019. This analysis is based on the listed company domicile. There were 89 cross-border IPOs globally in 2019.",
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      "kind": "disclaimer",
      "text": "All values are US$ unless otherwise noted. Q4 2019 and Q4 19 refer to the fourth quarter of 2019 and cover priced IPOs from 1 October 2019 to 4 December 2019 plus expected IPOs by the end of December. YTD 2019 and 2019 refers to the full year of 2019 and cover priced IPOs from 1 January 2019 to 4 December 2019 plus expected IPOs by the end of December. Data as of 4 December 2019.",
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      "kind": "metric",
      "text": "IPO deal size: $58m",
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      "kind": "table",
      "text": "Transaction sizes 2019: Main markets vs Junior markets",
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      "kind": "title",
      "text": "Europe, Middle East, India and Africa IPO market insight",
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      "kind": "title",
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      "evidence": "The document highlights favorable conditions for a healthy IPO market in 2020",
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      "bestFor": "Visionary leadership, brand positioning, mission statements",
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      "evidence": "The document implicitly follows the Golden Circle by explaining the context (why) of the IPO market, the current state (what), and providing insights (how)",
      "position": 0,
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      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
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