Global Initial Public Offering volume 551 in January-June this year.

Global Initial Public Offers (IPO) decreased 12% year-on-year to 551 in the first half of 2024, according to the Audit and Consulting Company, EY.

Revenue generated through public offerings also decreased by 16% to $52.2 billion compared to 2023, the EY said in a report on Thursday.

The decline was led by slower IPO activity in the Asia-Pacific region, as deals decreased to 216 from 237, resulting in a 73% annual decrease in revenues of $10.4 billion in January-June.

IPO volumes in the Europe, Middle East, India and Africa (EMEIA) regions, on the other hand, rose significantly in the same period with the largest increase seen in America from 77 to 86.

The industrial sector performed well in global IPOs with 115 deals, making 21% of the total. This was driven by strong and strategic activity, particularly in India.

Also, the technology sector outperformed, raising an $10.8 billion in IPO proceeds, with most of these funds secured from the US.

In April-June, the number of global IPOs decreased by 15% from a year earlier.

Revenue generated through IPOs in the second quarter fell 31% compared to the last year to $27.8 billion, according to EY’s report.