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  "documentTitle": "ey global IPO trends Q4 2018",
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  "notes": "Uses a bubble chart to map sector performance; bubble size represents IPO volume in the pipeline.",
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      "text": "While IPO pipelines across all sectors surged YOY in Q1 2025, completed listings rose in only half the sectors from the same period last year, curbing optimism with caution.",
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      "text": "YOY pipeline growth: +184%",
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      "kind": "paragraph",
      "text": "sectors led the pack among all sectors, demonstrating confidence in IPO pipeline growth and completions, respectively. Construction notched a record Q1 peak since 2001, driven largely by India. The Health and Life Sciences sector also demonstrated strength...",
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      "kind": "paragraph",
      "text": "The IPO landscape is a dynamic barometer of market sentiment. A YOY analysis reveals four patterns in how sectors are navigating the leap from private to public markets: 1. Confidence... 2. Caution... 3. Depletion... 4. Retreat...",
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      "text": "IPO pipeline growth rate (%): Year-over-year comparison of IPO pipeline count as of 31 March 2025 vs. 31 March 2024. The growth rate of completed IPOs during Q1 2025 compared to Q1 2024. Sources: EY analysis, Dealogic, Mergermarket.",
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      "text": "IPO sector dynamics: IPO pipelines are filling up, with Industrials and Real Estate, Hospitality & Construction the most confident sectors",
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