|
|
Article: NYSE's IPOs in decline as Nasdaq plays catch-up.
- Article from:
- Financial News
- Article date:
- February 8, 2004
CopyrightCOPYRIGHT 2004 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Georgina Leslie and Phillipa Leighton-Jones
The New York Stock Exchange (NYSE) saw its total value of initial public offerings (IPOs) decline to $11.6bn ([euro]9.3bn) last year while new issuance rose on rival Nasdaq.In 2001 the NYSE had $34.8bn worth of new issuance but that figure fell to $20.4bn in 2002. Last year it was down a further 43%.
Nasdaq has seen a more positive trend, although its total issuance is considerably less than the NYSE. Nasdaq new offerings accounted for $5.3bn last year, up from $3.9bn in 2002 and $4.9bn in 2001.
Nasdaq floated 57 companies last year - more than double the number of new listings on the NYSE. ...