IPO conditions good in 2015: Deloitte

CONDITIONS for public floats of companies remain promising, after a strong year for public listings in 2014, says financial services provider Deloitte.

"CONDITIONS remain largely the same for 2015, and the early signs are strongly positive with IPOs (initial public offerings) continuing to outperform the S&P/ASX 200 index in the first two months of the year," Deloitte corporate finance partner Ian Turner said on Thursday.

"However, under-performance of certain IPOs, and re-pricing of others toward the back end of last year, does raise the question of whether the 2014 wave is sustainable."Mr Turner said a very healthy pipeline of IPOs was building for the rest of 2015, especially in the technology and financial services sectors.Low interest rates, a lower Australian dollar, strength in global equity markets, a willing queue of business owners keen to monetise their investments or pursue further expansion via listing, and demand from institutions and superannuation funds would fuel activity.Asian businesses were also showing greater interest in listing on the Australian Securities Exchange.Deloitte said 2014 was a banner year for Australian IPOs, with 74 floats worth a total of $26 billion, up from 56 floats worth a total of $11.9 billion in 2013.Deloitte's 2015 IPO Report said there were 42 IPOs exceeding $75 million in 2014.Fifty-nine per cent of the new listings were healthcare and financial services stocks.Listings of energy and resources stocks fell from 30 per cent of all new listings in 2013 to 14 per cent in 2014.Newly listed stocks returned an average of 17 per cent to investors, which was significantly more than the S&P/ASX200 index's gain of one per cent.TOP PERFORMING IPOs for 20141. Beacon Lighting (retail), share price up 127 per cent from listing date to 31 December, 20142. IPH Ltd (commercial services), up 67 per cent3. Bellamy's Australia (retail), up 65 per cent4. Mantra Group (consumer services), up 61 per cent5. Victor Group Holdings (consulting and planning), up 40 per cent

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