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**** was the underwriter of the initial public offering (IPO) of ** in April 2019. At almost ** billion U.S. dollars, this was the largest all-time IPO globally as of October 2021. This was followed by **'s 2014 IPO worth just over ** billion U.S. dollars, underwritten by ***.

Who were the leading underwriters in the U.S.?

Underwriting is the process through which an investment bank (the underwriter) acts as a broker between the issuing company and the investing public to help the issuing company sell its initial set of shares. As of October 2021, the underwriters of the largest IPOs in the United States were *** – the combined value of their underwritten IPOs reaching almost ** billion U.S. dollars. When taking a company public, investment banks charge underwriting fees, which are the largest single direct cost associated with an IPO. In 2020, the underwriting fees for deals in the U.S. which were valued between *** million and * billion U.S. dollars, amounted to more than * percent of the gross proceeds from the offering.

What does the global IPO market look like?

Going public is typically a way for private companies to raise capital for expansion, although venture capitalists can also use IPOs as exit strategies. In 2020, **** had the largest number of traditional IPOs than any other region worldwide. This was followed by the ***, which saw a significant increase in the number of IPOs that year.