Technology companies have been very active on the market for IPOs in the world in the third quarter, raising $24.8 billion, mainly due to China’s Alibaba, according to a study released on Tuesday by PricewaterhouseCoopers.
The amount raised reached $24.8 billion, greatly exceeding the $1.3 billion in the third quarter of 2013 and even $17.8 billion recorded in the second quarter of 2012 thanks to the IPO of US Facebook registered at $16 billion.
This performance reflects the dynamism of the market in China, which accounted for 50% of volume and 93% of the value of funds raised, including the spectacular operation of retail giant Alibaba internet, which raised 22 billion dollars to the New York Stock Exchange.
“These operations reflect the dynamic technology sector worldwide, which is more than ever a key growth driver for the economy,” said in a statement Pierre Marty, head of technology sector at PwC.
The firm is confident for the fourth quarter, despite the recent turmoil in the markets.
“While the last quarter of the year started with a growing market volatility, investor confidence in the future of the technology sector remains strong,” says Philippe Kubisa, stock market specialist within the firm.