Home Private Equity Q1 2024 IPO market trends | EY

Q1 2024 IPO market trends | EY


We are encouraged by the improvement in the IPO market through Q1, particularly with respect to activity levels and the recent performance of higher-profile deals. We are also optimistic about the prospect for continued momentum in light of the constructive market backdrop.

Our outlook

The IPO pipeline has been building over the past two years as companies have been forced to rely on tight private capital markets and operational initiatives to wait out the downturn. If the broader market recovery expands beyond the mega-cap companies, more companies in a greater variety of sectors and stages of development will be encouraged to pursue public listings.

From a thematic perspective, AI-related products and services and AI-advantaged themes continue to dominate today’s narrative. But, as investors continue to challenge risk, they will look for tangible proof of the potential. And, while US presidential elections naturally preoccupy IPO issuers and bankers, it is important to note that IPO volumes have generally not deviated materially from historical averages in recent election years. 

The path forward

Preparing for an IPO is a multiyear process that includes beginning to operate like a public company as the process unfolds. 

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