By category, nearly every kind of IPO fell in number, with the notable exception of healthcare offerings. The number of financial services offerings rose from the first quarter of 2014 (5) to the first quarter of this year (9). However, the overall value of the financial services IPOs fell, by more than 50 percent.
Other bad news from the Renaissance report centers on healthcare and biotechnology IPOs: just in the first quarter of this year, eight of the 10 worst-performing offerings were from the healthcare space.
Also, private equity offerings did little to prop up the IPO pipeline; Renaissance counted just 5 IPOs from private, the least active quarter for LBO shops since 2009.