Throughout 2022, Nasdaq maintained an IPO win rate of 89%, extending its leadership to 36 consecutive quarters. In total, Nasdaq welcomed 156 companies to the market this year, including 85 operating companies and 71 special purpose acquisition companies (SPACs), raising a total of $14.8 billion, as well as 29 exchange transfers. The continued success of Nasdaq reflects our ongoing investment in client success as a trusted home for some of the most innovative companies on the market.
This year was challenging across industries, with the geopolitical uncertainty and rising interest rates to curb inflation. But amidst these challenges, Nasdaq still had much to celebrate, with 74% of all proceeds raised through IPOs being listed on Nasdaq, including seven of the top 10 largest IPOs by proceeds raised this year, of which three were ranked in the top five.
The top three of the largest listings on Nasdaq this year include:
- TPG (TPG) – A leader in the alternative asset space, TPG manages $135 billion in assets through a principled focus on innovation.
- Mobileye (MBLY) – Mobileye is driving the global evolution toward a smarter, safer driverless future with pioneering core technology for autonomous vehicles.
- Screaming Eagle Acquisition Corp., SPAC (SCRM) – A Special Purpose Acquisition Company (SPAC), that seeks to bring value to shareholders through mergers and business combinations.
Alongside Screaming Eagle Acquisition Corp., Nasdaq continued its success in the SPAC market, welcoming 86% of all SPAC IPOs, raising $9.7 billion. Notably, a total of 68 SPAC business combinations listed on Nasdaq this year, representing a 72%-win rate in the U.S., including the largest SPAC combo switch of 2022, Selina (SLNA). Nasdaq also maintained its dominance in the healthcare, consumer and technology sectors with win rates of 93%, 94% and 95%, respectively.
Nasdaq’s consistent listings dominance year after year is due to our targeted investment in modernizing the capital markets. As part of our effort to improve the listings process, the U.S. Securities and Exchange Commission recently approved Nasdaq’s proposal to optimize existing rules for a direct listing with a capital raise. The first-of-its-kind rule allows a company to sell shares in the opening auction on Nasdaq at a price outside of the range in their registration statement—up to 20% below and 80% above. According to Nelson Griggs, President of Nasdaq Stock Exchange, this new rule “provides companies with more flexibility to join the public markets and reach investors.”
While enhancing the listings process, Nasdaq also celebrated several important listing anniversaries, including:
- Applied Materials (AMAT) – 50 years
- Fastenal (FAST) – 35 years
- Mercado Libre (MELI) – 15 years
- Lululemon (LULU) – 15 years
- Mondelēz International (MDLZ) – 10 years
- Workday (WDAY) – 5 years
Nasdaq believes our efforts will continue our listings leadership into 2023 and beyond.
“We believe there is a strong pipeline of companies heading into next year that are waiting for their window of opportunity to transition to the public markets,” said Griggs.
