2024 marked a resurgence across IPOs, follow-on issuance and performance. From healthcare’s continued dominance to technology’s standout returns, the market showed resilience and positioned itself for even greater momentum in 2025.

Discover the trends, key milestones and record-breaking highlights that defined the year in our comprehensive 2024 US ECM Recap.

Key Highlights

• $33.6B raised via 179 IPOs: A 56.8% increase in capital raised from 2023.
• $213.1B raised via 701 follow-on issuances: A 64.5% increase year-over-year.
• Healthcare leads the way: The most active sector for the third consecutive year, raising $55.3B (22.4% of total capital).
• Tech sets the pace for returns: The technology sector delivered the strongest dollar-weighted returns across all offering types, with a 35.8% gain.
• Seventeen $500M+ IPOs: Up from just seven in 2023, these IPOs averaged a dollar-weighted return of over 70% by year-end.
• A record-setting Q4: The most active quarter since 2013, signaling strong momentum heading into 2025.

Download the full report for 17 pages of charts and in-depth analysis on 2024 ECM performance.