Withdrawn IPOs are far more common that most people think. Using a set of screens to reduce the universe of typical IPOs studied in the finance field, just over a third of intended IPO-seeking firms withdraw their filings and pursue other paths. The data below show the volume of withdrawn IPOs by year from 1998-2013. This is an incredibly important (and understudied) topic.
In research we apply various screens to the universe of IPOs, and study a subset of “clean” IPOs. We commonly screen IPOs that have unique pricing processes, legal/ownership structures, disclosure requirements, or are small offerings/firms. The data below use typical screens showing the volume of completed U.S. IPOs. Note: a deal can be screen for more than one reason.