The IPO market produced 142 IPOs in 2017, a total that was 45% higher than the 98 IPOs in 2016 and just shy of the 152 IPOs in 2015, but still lower than the annual average of 155 IPOs over the five-year period from 2011 to 2015.

The year started slowly, with 20 IPOs in the first quarter. Activity more than doubled in the second quarter, reaching 45 IPOs. The third quarter saw the pace of new offerings slow, with 27 IPOs—the lowest third-quarter tally in the last five years. The fourth quarter produced 50 IPOs, with November accounting for almost half—the second busiest November since the dot-com era.