Healthy investor appetite is likely to keep the IPO window open well into 2017, according to a new report by commercial law firm MinterEllison.
The MinterEllison Directions in Equity Capital Markets Report 2016 found the Australian IPO market has been "robust" in 2016, despite the capital markets volatility created by both Brexit and the US presidential election.
MinterEllison partner Daniel Scotti said that despite some economic headwinds, the IPO window has remained open over the past 12 to 18 months.
"[There has been] continued investor appetite for appropriately priced and quality assets that would deliver strong yields," Mr Scotti said.
"We saw some standouts in the technology and innovation sector, healthcare, and food and agriculture."
Although there has been "relatively few" IPOs from large-caps in 2015-16, there is still good volume at the small and mid-cap end of the market – particularly in the technology sector.
"With the flurry of IPOs undertaken over the past few years, it was also notable that the market saw a number of take-private transactions within a relatively short space of the company being listed," Mr Scotti said.
"We expect this trend to continue. It may lead to a greater volume of IPOs, with vendors who may have been considering a trade sale pursuing an IPO instead in the first instance – and a take-private down the track," he said.
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