PricewaterhouseCoopers just released its Q3 report on IPOs, and there are reasons to be optimistic. While it took time to get back on track from the terrible Facebook (NASDAQ:FB) IPO, September showed positive momentum. Some of the key trends included a robust equities market, lower volatility and a growing pipeline of quality deals.
In all, the quarter saw 29 IPOs in the U.S., which was down slightly from 31 in the same period a year ago. But the amount raised came to $6.6 billion — doubling the $3.2 billion raised in second-quarter 2011.
Much of the recent activity was concentrated in tech and financial services deals. Just some of the standout offerings were Trulia (NYSE:TRLA), Eloqua (NASDAQ:ELOQ), Palo Alto Networks (NYSE:PANW), Kayak (NASDAQ:KYAK) and Grupo Financiero Santander Mexico (NYSE:BSMX).
In fact, IPO performance in the third quarter was particularly strong. Consider that the average deal was actually 26% above the issue price. This compares to a much more modest 5.8% gain for the S&P. In light of all this, it’s a good bet that Wall Street will accelerate deal activity in the fourth quarter.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.