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  "docSlug": "48a731e2d1ddcc99",
  "documentTitle": "ey global ipo trends q4 2019",
  "authorId": "MorganStanley",
  "authorName": "EY",
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  "notes": "Includes a mix of summary bullet points and specific market performance tables with trend charts.",
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      "text": "Overall, Americas IPO markets performed respectably, despite the geopolitical and trade uncertainty that ran throughout 2019.",
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      "text": "Canada 2019 chart",
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      "kind": "chart",
      "text": "NASDAQ and NYSE 2019 chart",
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      "text": "Mexico 2019 chart",
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      "text": "2019 activity chart",
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      "kind": "disclaimer",
      "text": "Median deal size is calculated for IPOs that were priced by end of 4 December. 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. Data as of 4 December 2019.",
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      "kind": "list",
      "text": "Overall, Americas IPO markets performed respectably, despite the geopolitical and trade uncertainty that ran throughout 2019.\nUS exchanges accounted for the majority of IPOs in the Americas, 77% by deal numbers and 93% by proceeds in 2019. This included 24 unicorn IPOs.\nToronto and TSX Venture exchanges saw 18 IPOs raising US$295m in 2019.\nIn South America, Brazil posted five IPOs in the year, with proceeds of US$2.3b, while Chile posted two IPOs (from real estate), and raised US$1.1b.\nHealth care and technology accounted for the bulk of IPO activity in 2019, accounting for 63% in deal numbers and 76% by proceeds.",
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      "kind": "metric",
      "text": "IPO proceeds: $53.9b",
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      "text": "2019 activity summary table",
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      "kind": "title",
      "text": "Americas IPO market insight",
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      "evidence": "Further details on the global IPO market insights are provided",
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      "name": "Golden Circle",
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      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "60a54dce-003d-4e46-8e3e-33bdde4d9b06",
      "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)",
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      "objective": "To understand the why, what, and how of the current IPO market trends",
      "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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