Since the listing of Saga on the main market in May this year, 13 of the subsequent 15 IPOs did better than the FTSE 100 Index. John Hammond, head of equity capital markets at Deloitte, said: “Some of the frothy pricing of the first quarter dissipated in the second quarter and, as a result, nearly all the IPOs that completed in the weeks before the summer holidays outperformed the market. “Overall, to the end of August 2014, the 28 IPOs achieved an average return of 7.0 per cent, far outstripping the 1.5 per cent return on the FTSE 100. “This points to a busy autumn for new IPO activity after only two new listings in July, and none in August. From our own pipeline, we anticipate a significant number of new listings, heralding a return to pre-summer levels. We are particularly watching the financial services and TMT sectors.”
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