Global Technology Ip Os Q1 2010

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Statistics and information on Global Technology IPO market

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Global Technology Ip Os Q1 2010

  1. 1. Global Technology IPO Review Q1 2010 *connectedthinking PwC
  2. 2. IPO Summary – Q1 2010 Highlights Top 10 IPOs Issue Size Primary Company Industry ($M) Exchange • Global IPO activity in the first quarter of 2010 Process Control showed substantial improvement over Q1 2009. Sensata Technologies Instruments 569.00 NYSE Results were driven by an ongoing robust Asian market. Zhejiang Chint Electrics Semiconductors 368.83 Shanghai • In the technology space, semiconductors Promethean World Software 279.77 London dominated the number of IPO deals in the first IT Consulting & quarter of 2010. East Money Information Services 208.07 Shenzhen SS&C Technologies Software 161.00 Nasdaq • China Merchant Securities was the leading IT Consulting & underwriter in the technology segment. Dingli Communications Services 180.49 Shenzhen • Shenzhen Stock Exchange led the technology Hanwang Tech Software 165.70 Shenzhen sector with 23 IPO issues. Hiconics Drive Tech Semiconductors 150.14 Shenzhen • Sensata Technologies was the largest technology Shenzhen ZQ Network IPO in Q1 2010 with an issue size of $569 million. Technology Software 109.86 Shenzhen Shenzhen Haoningda Electronic Semiconductors 106.93 Shenzhen Source: Thomson Reuters PricewaterhouseCoopers Slide 2
  3. 3. Technology IPOs – Q1 2010 Region: AsiaPac (Shenzhen, Shanghai, Hong Kong, Taiwan) Proceeds Primary Domicile Period Company Sector ($ M) Exchange Nation Lead Underwriter Nanjing Keyuan IT Consulting & 03/17/2010 Automatic Corp Services 97.13 Shenzhen China Guangfa Huafu Securities East Money IT Consulting & 03/05/2010 Information Services 208.07 Shenzhen China China International Capital Fujian CEE 03/05/2010 Installations Semiconductors 70.85 Shenzhen China Hongta Securities Suzhou Goldengreen 03/05/2010 Tech Semiconductors 60.94 Shenzhen China GF Securities IT Consulting & 03/04/2010 SureKAM High-Tech Services 71.79 Shenzhen China China Dragon Securities Beijing Sevenstar 03/01/2010 Electro Semiconductors 80.06 Shenzhen China China Securities Shenzhen Zowee IT Consulting & 03/01/2010 Tech Services 82.70 Shenzhen China Shenyin Wanguo Internet Software & 02/26/2010 Taiji Computer Services 106.22 Shenzhen China China Merchant Securities Hangzhou 02/11/2010 Zhongheng Electric Semiconductors 54.99 Shenzhen China Huatai United Securities 02/05/2010 Hanwang Tech Software 165.70 Shenzhen China Zhong De Securities Shenzhen ZQ 01/29/2010 Network Technology Software 109.86 Shenzhen China Not Applicable Xiamen 35.com IT Consulting & 01/29/2010 Technology Co Ltd Services 67.24 Shenzhen China China Merchant Securities Source: Thomson Reuters PricewaterhouseCoopers Slide 3
  4. 4. Technology IPOs – Q1 2010 Region: AsiaPac (Shenzhen, Shanghai, Hong Kong, Taiwan) Proceeds Primary Domicile Period Company Sector ($ M) Exchange Nation Lead Underwriter Henan Senyuan 01/28/2010 Electric Semiconductors 83.79 Shenzhen China Huatai Securities Shenzhen Haoningda 01/25/2010 Electronic Semiconductors 106.93 Shenzhen China China Merchant Securities 01/18/2010 Beijing CREAT Semiconductors 94.93 Shenzhen China Pingan Securities Anhui Taier heavy 01/14/2010 Industry Semiconductors 85.70 Shenzhen China Huatai Securities Zhejiang Chint 01/12/2010 Electrics Semiconductors 368.83 Shanghai China Guotai Junan Securities 01/07/2010 iESLab Software 80.57 Shenzhen China Haitong Securities Dingli IT Consulting & 01/05/2010 Communications Services 180.49 Shenzhen China Pingan Securities 01/05/2010 Hiconics Drive Tech Semiconductors 150.14 Shenzhen China CITIC Securities Hubei Tech 01/05/2010 Semiconductor Semiconductors 90.76 Shenzhen China Jinyuan Securities IT Consulting & 01/05/2010 Hwa Create Corp Services 76.46 Shenzhen China Hongyuan Securities Shenzhen Sunwin 01/05/2010 Electronics Semiconductors 64.46 Shenzhen China China Merchant Securities Shenzhen Tianyuan 01/05/2010 DIC Info Software 118.67 Shenzhen China China Merchant Securities Source: Thomson Reuters PricewaterhouseCoopers Slide 4
  5. 5. Technology IPOs – Q1 2010 Region: EMEA (London and Frankfurt) Proceeds Primary Domicile Period Company Sector ($ M) Exchange Nation Lead Underwriter Goldman Sachs Promethean World International 03/11/2010 PLC Software 279.77 London UK JP Morgan Cazenove Source: Thomson Reuters PricewaterhouseCoopers Slide 5
  6. 6. Technology IPOs – Q1 2010 Region: US (NYSE and NASDAQ) Proceeds Primary Domicile Period Company Sector ($ M) Exchange Nation Lead Underwriter(s) Morgan Stanley, Credit Suisse, JPMorgan, 03/31/2010 SS&C Technologies Software 161.00 Nasdaq United States Deutsche Bank Securities Computers & 03/30/2010 Meru Networks Peripherals 75.67 Nasdaq United States Merrill Lynch Morgan Stanley 03/23/2010 MaxLinear Semiconductors 103.75 NYSE United States Deutsche Bank Securities Process Control Morgan Stanley, Barclays 03/10/2010 Sensata Technologies Instruments 569.00 NYSE Netherlands* Capital *Sensata Technologies is domiciled in the Netherlands but raised capital on the NYSE. Source: Thomson Reuters PricewaterhouseCoopers Slide 6
  7. 7. Technology IPOs – Q1 2010 Offering details - Top 5 IPO Description Rationale Company Description Sensata Technologies Proceeds from the offering to be used to Sensata Technologies Holding is a global pay down debt and for general corporate industrial technology company engaged in Issue Size: $569 million purposes. the development, manufacture and sale of Country: Netherlands sensors and controls. The Company Underwriters: Morgan Stanley, Barclays produces a range of customized sensors Capital, Goldman Sachs, BofA, Merrill and controls for applications, such as Lynch, JPMorgan, Citi and Credit Suisse thermal circuit breakers in aircraft, pressure Industry: Software sensors in automotive systems, and bimetal current and temperature control devices in electric motors. Zhejiang Chint Electrics Co. Ltd Proceeds to fund two electric appliance Chint is currently the leading player in the manufacturing projects. Low-voltage electrical and Power Issue Size: $369.4 million Transmission and Distribution industries in Country: China China. Underwriter: Guotai Junan Securities Industry: Semiconductors Promethean World Proceeds to drive Promethean’s expansion Promethean World is a developer of which may include acquisitions. technology solutions for kindergarten, Issue Size: $280 million primary and secondary education. More than Country: UK 860 people comprise Promethean's global Underwriter: Goldman Sachs, JP Morgan family, working in 15 offices around the Industry: Software world. Promethean’s ActivClassroom technology is today helping educate over 12 million individuals in over 500,000 classrooms in some 100 countries. PricewaterhouseCoopers Slide 7
  8. 8. Technology IPOs – Q1 2010 Offering details – Top 5, continued IPO Description Rationale Company Description East Money Information Proceeds to be used to upgrade financial EastMoney.com, owned by East Money data terminal products, form a wireless Information Co Ltd, is an online information Issue Size: $208 million network platform, and promote wireless platform providing professional business and Country: China mobile terminals. financial news. Underwriter: China International Capital Industry: IT Consulting SS&C Technologies Holdings Proceeds to be used to pay off debt from SS&C Technologies provides the global 2005 company privatization. financial services industry with a broad Issue Size: $161 million range of highly specialized software, Country: US software enabled-services and software as a Underwriter: Morgan Stanley, Credit service (SaaS) solutions for operational Suisse, JP Morgan, Deutsche Bank excellence. Industry: Software PricewaterhouseCoopers Slide 8
  9. 9. Technology IPOs – Q1 2010 Geographic distribution* China led all markets in terms of new issues for the third consecutive quarter. Of the 29 technology companies that went public in Q1 2010, 24 were from China. Bar = proceeds in $M Number of IPOs [blue line] 3000 30 24 China 24 2500 25 UK 1 2000 20 In USD Million Netherlands 1 No of IPOs 1500 15 US 3 1000 10 Total 29 500 3 5 1 1 0 0 China UK US Netherlands * IPO is credited to the country where the company is headquartered, not the location of the exchange. Source: Thomson Reuters PricewaterhouseCoopers Slide 9
  10. 10. Technology IPOs – Q1 2010 Sector distribution Semiconductors raised the most capital - $1.4 billion - and had the highest number of offerings. Number of IPOs [blue line] Bar = proceeds in $M Computers & 1600 13 14 1 Peripherals 1400 12 1200 Internet Software & 10 1 Services In USD Million 1000 6 No of IPOs 7 8 800 IT Consulting & 7 1 6 Services 600 4 Semiconductors 13 400 1 1 200 2 Process Control 1 0 0 Instruments Computers & Software & Semiconductors IT Consulting & Software Process Control Peripherals Internet Services Instruments Software 6 Services Total 29 Source: Thomson Reuters PricewaterhouseCoopers Slide 10
  11. 11. Technology IPOs – Q1 2010 Stock exchange distribution Shenzhen stock exchange led technology IPOs; 50% of the new issues were semiconductor companies. Bar = proceeds in $M Number of IPOs [blue line] 2500 25 23 Shenzhen 23 2000 20 Shanghai 1 London 1 In USD Million 1500 15 No of IPOs Nasdaq 2 1000 10 2 NYSE 2 500 5 Total 29 1 2 2 1 0 0 Shenzhen London Nasdaq NYSE Shanghai Source: Thomson Reuters PricewaterhouseCoopers Slide 11
  12. 12. Technology IPOs – Q1 2010 Lead underwriter (% of total IPOs) Number of IPOs* Deutsche Bank Barclays Goldman Sachs JP 3% Capital 2% Morgan 2% 2% China Merchant Sec’s 5 Morgan Credit Suisse Stanley 1% Huatai Securities 3 4% China Pingan Securities 2 Merchant Morgan Stanley 1.25 Securities 18% Merrill Lynch 1 Others (1 each - China) 14 Deutsche Bank 0.75 Huatai JP Morgan 0.75 Others Securities (All China) 11% Barclays Capital 0.50 50% Goldman Sachs 0.50 Pingan Securities Credit Suisse 0.25 7% Total 29 * Fractional IPOs result from multiple underwriters. Source: Thomson Reuters PricewaterhouseCoopers Slide 12
  13. 13. Technology industry leaders Raman Chitkara Xavier Cauchois – France Natalia Milchakova – Russia Global Technology Leader (US) Phone: 33 1 5657 10 33 Phone: 7 495 967 6240 Phone: 1 408 817 3746 Email: xavier.cauchois@fr.pwc.com Email: natalia.milchakova@ru.pwc.com Email: raman.chitkara@us.pwc.com Hari Rajagopalachari – India Greg Unsworth – Singapore Rod Dring – Australia Phone: 91 80 4079 002 Phone: 65 6236 3738 Phone: 61 2 8266-7865 Email: hari.rajagopalachari@in.pwc.com Email: greg.unsworth@sg.pwc.com Email: rod.dring@au.pwc.com Akihiko Nakamura – Japan Douglas Mahony – UAE Estela Vieira – Brazil Phone: 81 80 3158 6693 Phone: 97 4 3043100 ext. 151 Phone: 55 1 3674-3802 Email: akihiko.nakamura@jp.pwc.com Email: douglas.mahony@ae.pwc.com Email: estela.vieira@br.pwc.com Yong-Won Kim – Korea Barry Murphy – UK Alison Wong – China Phone: 82 2 709 0471 Phone: 44 20 7804 5284 Phone: 86 21 2323 2551 Email: yong-won.kim@kr.pwc.com Email: barry.murphy@uk.pwc.com Email: alison.cy.wong@cn.pwc.com Marcel Jakobsen – Netherlands Rob Gittings – US Phone: 1 408 817 3730 Werner Ballhaus – Germany Phone: 31 8879 23805 Email: marcel.jakobsen@nl.pwc.com Email: robert.gittings@us.pwc.com Phone: 49 211 981 5848 Email: werner.ballhaus@de.pwc.com PricewaterhouseCoopers Slide 13
  14. 14. © 2010 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity. PwC14 Slide

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