IPOs Poised to Set Post-Tech Bubble High in 2014

NEW YORK (The Deal) -- The U.S. market for initial public offerings may be on pace for its best year since 2000, market watchers say.

The IPO market has produced 188 IPOs worth $40 billion so far this year, a 44% increase in deals compared with 2013, according to data from Renaissance Capital. A backlog of up to 100 more IPOs could raise another $40 billion, the research firm said. The number of companies filing for IPOs has already surpassed last year's total with 261 such filings, compared to 256 last year.

TheStreet's Jonathan Braude says IPO fever contineus to burn in Europe too:


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"Only 34 more offerings are needed for 2014 to surpass 2013 as the busiest year for IPOs since the tech bubble, a milestone we expect to reach by the end of October," the research firm said in its "Fall 2014 U.S. IPO Preview" published Sept. 3.

To be sure, Chinese e-commerce giant Alibaba Group Holding's IPO is expected to raise about $20 billion, or half the $40 billion forecast, and may help revive interest in tech IPOs.

"Alibaba is the elephant in the pipeline with an estimated deal size of $20 billion, or 40% of projected total pipeline proceeds," Renaissance Capital said.

Chinese online retailers JD.com  (JD) and Jumei International Holding  (JMEI) have gained 72% and 44% respectively since their IPOs, Renaissance Capital noted, "indicating that investor interest in e-commerce is already hot."

In addition to Alibaba, two other large e-commerce companies Cnova NV, which is being spun off by French retailer Groupe Casino, and Wayfair Inc. are planning IPOs in the fourth quarter. Cnova's may raise as much as $1 billion and Wayfair's as much as $350 million.

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