The global initial public offering (IPO) market saw a total of 430 deals raising some US$105.6 billion ($141.15 billion) in proceeds, up by 85% and 271% y-o-y respectively.

The heightened activity, which is attributable to attractive market conditions so far in 2021, has led to the best-performing first quarter in terms of deal numbers and proceeds in the last 20 years, according to the EY quarterly report, Global IPO Trends: Q1 2021.

To be sure, the record figures have bucked the trend for the first quarter, which is traditionally a slow period.

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