The global credit crunch and the shockwaves it sent through equity markets led to a sharp decline in IPO activity in the financial year just ended, particularly in the second half of the year. In total, 90% of all funds raised and 75% of all IPOs occurred in the first half of the year.

Deloitte Corporate Finance’s Annual IPO survey for the 2007-08 financial year found 201 IPOs listed in the year to
30 June 08, down from a record 221 in the previous year, while the total value of funds raised from IPO investors almost halved from $10.5 billion in 06-07 to $5.9 billion in 07-08.

Notably, there were only 18 floats in the June quarter compared to 75 in the previous year.

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