Industry-leading 12 transfers bring nearly $100 billion in new market capitalization
NYSE welcomes year’s largest IPO, leads industry in U.S. proceeds and is home to 8 of the 10 largest transactions
In its capacity as an Exchange of Ideas, NYSE Hosts key U.S. officials including House Speaker Kevin McCarthy and Commerce Secretary Gina Raimondo
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today reported strong business momentum through the first half of 2023. The NYSE led the industry with the largest IPO of the year to date and welcomed 12 publicly-traded companies that completed the transfer of their listings to the NYSE from other exchanges.
The May 4 IPO of consumer health business Kenvue (NYSE: KVUE) ranks as the largest worldwide offering since late 2021. The NYSE set the pace for U.S. IPO proceeds in the first six months of 2023 with an industry-leading $6.7 billion and was home to 8 of the 10 largest transactions in the first half. In June, the NYSE welcomed Cava (NYSE: CAVA), Savers Value Village (NYSE: SVV), Fidelis Insurance Holdings (NYSE: FIHL) and other issuers to the public markets. As listing conditions continue to improve, the NYSE maintains a strong pipeline of companies planning to list at the exchange.
In addition, Fiserv (NYSE: FI), Coherent (NYSE: COHR) and Atlantic Union Bankshares (NYSE: AUB) were among those that completed the transfer of their listings to the NYSE from January through June, with Fiserv ranking as the second-largest listing transfer in NYSE history. Altogether, companies valued at nearly $100 billion transferred their listings during the first half. In addition, dual-listed CRH (NYSE: CRH) and AngloGold Ashanti (NYSE: AU) announced plans to move their primary listings to the NYSE, representing another $50 billion in market capitalization. More than 300 issuers have transferred to the NYSE since 2000, representing more than $1 trillion in current market value.
Beyond IPOs and transfers, NYSE Group also led the industry in first-half ETF listings with 113 new funds. Across the NYSE and NYSE Arca equity exchanges, NYSE Group is home to a total of $5.4 trillion in ETF assets under management, 75% of the U.S. industry’s total.
“The first half of 2023 reflected strong momentum for the New York Stock Exchange,” said Lynn Martin, President, NYSE Group. “Many issuers turned to the NYSE during this period, both as a home for their newly-issued shares and as a transfer destination. Likewise, when political leaders or cultural icons look to address the global business community or sustainability leaders seek to collaborate, their choice is the NYSE.”
U.S. Speaker of the House of Representatives Kevin McCarthy was among the leading officials from both parties to visit the exchange and meet with the CEOs of NYSE-listed companies. Speaker McCarthy delivered a major economic address from the NYSE’s Board Room in April, during a period that also included visits from U.S. Commerce Secretary Gina Raimondo, Sen. Tim Scott, Sen. Joe Manchin, and Secretary of the Navy Carlos Del Toro.
The NYSE also provided leadership in the ongoing regulatory discussions on market structure, testifying in May before a joint House subcommittee hearing on the future of digital assets and regulation in those markets. In March, the NYSE joined with Citadel Securities and Charles Schwab & Co. on a comment letter that offered a thoughtful compromise to the U.S. Securities and Exchange Commission’s proposed market structure reforms.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE, an ICE exchange, is the premier global venue for capital raising. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit nyse.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.