April is shaping up to the best month for initial public offerings in years.
Data from ClickIPO shows over $10 billion of new equity entered the market in April. That’s the most since September 2014. Combined volume in the first four months of the year also stands at $25.9 billion, the strongest total in at least a decade.
Technology stocks have led the charge, but not just any tech stocks. Most of the big names have focused on some form of cloud computing. Docusign (DOCU) and Smartsheet (SMAR), for instance, have tools letting employees and customers collaborate online. Ceridian HCM (CDAY) sells online human-resources software, while Pivotal Software (PVTL) offers a platform for building cloud-based applications.
Music-content provider Spotify (SPOT), another major technology name, also sold shares through an unusual direct IPO without the help of underwriters. The largest non-tech issue was graphite company GrafTech (EAF).
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