Global initial public offering (IPO) markets kicked off 2017 with gusto, leading to the highest first quarter number of share sales since before the financial crisis, according to research from EY released on Tuesday.
After the strong start to the year, which counted 369 deals launched globally to raise total proceeds of $33.7 billion, the outlook for the rest of the 2017 remains robust, according to Martin Steinbach, global IPO leader at EY.
"We see that the runway is established for the remainder of the year. This is backed by strong economic fundamentals, low volatility and still high index levels which create a positive sentiment for the IPO market for the remainder of the year," observed Steinbach, speaking on CNBC's Squawk Box on Tuesday.
While several equity market indices set record highs during the quarter, Steinbach said that valuations achieved by many debut public equity market issuers kept pace over the period.
"The price is always a mix of many things - it's the right team, the right and the right timing and we see that the timing is right for many companies to join the market," affirmed the EY executive.
Asia-Pacific, led by Greater China, took the crown as the most active new launch market, boasting 70 percent of total global IPOs by number and 48 percent by proceeds. On the value side, U.S. markets roared ahead, with a total of $14.3 billion worth of deals helping the country to secure four of the spots in the list of top ten largest launches done in the first quarter.