The 3Q20 was a record-breaking quarter for IPO activity, with 81 IPOs raising $28.5 billion. Soaring peer multiples and IPO enthusiasm caused activity to increase significantly from the 3Q19, when 39 IPOs raised $10.8 billion. Healthcare was the most active sector, as larger health services providers joined the steady stream of biotechs, followed by tech which saw a surge of activity in September. The Big Four accounting firms appeared on 69 of the quarter’s 81 IPOs (85%), which raised 95% of proceeds. With every offering requiring audited financials, there were 81 auditing engagements (163 including SPACs) with 12 accounting firms.
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The article The 3Q20 IPO Rankings for the Big Four Accounting Firms originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
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