NEW YORK (TheStreet) -- Garvis Toler, head of global capital markets at the New York Stock Exchange, said the NYSE had more than 260 transactions raising more than $90 billion in the first half of the year, with more than 40 initial public offerings that raised more than $12 billion in proceeds.
Toler explains that the JOBS Act, introduced a few years ago, has encouraged companies to come to the market. Almost all of the companies that were eligible to use the JOBS Act to file for an IPO did so, according to Toler, who expects that trend to continue as he expects IPO activity to pick up, especially after the Labor Day holiday.
After Axovant Sciences(AXON) - Get Report became the largest U.S. biotech IPO in history in June and other health care and biotech companies such as EndoChoice Holdings (GI) , Glaukos(GKOS) - Get Report and Invitae(NVTA) - Get Report went public, as well, Toler said biotech and health care will remain hot areas for IPOs.
Toler said lots of companies in those industries are waiting to go public, and the exchange is also seeing interest from companies in other industries and is looking also to attract foreign companies that have global aspirations and see the opportunity to receive attractive valuations on the NYSE.