Initial public offerings (IPOs) saw a five-year low in 2023, with only 165 new listings during the year. Together, these companies raised $23.9 billion, an average of $145 million per offering. Compared to 2022, IPOs decreased by 14%, while total proceeds raised increased by 11%, showing that while fewer companies were listing, the size of the listings was greater. Traditional IPOs were the most common IPO type in 2023. There were 133 traditional IPOs that raised a combined total of $20 billion, averaging $150.7 million per offering. 

In this article, Audit Analytics further examines the decline in IPO market share for fiscal year 2023.