The number of IPOs launched in the second half of 2021 fell due to a lower number of SPAC IPOs. Traditional IPOs rebounded and saw eight listings that raised $1 billion or more.

IPO Offerings: There were 1,708 IPO offerings that raised $251.68 billion in the second quarter. This was a drop from the 2,215 IPOs and $351.33 billion raised in the first quarter, according to S&P Global. 

Second-quarter offerings and money raised was the lowest since the second quarter of 2020.

One number that changed significantly in the second quarter was the percentage of SPACs in the offerings. SPAC offerings hit 26.7% of IPOs in the second quarter, which is significantly lower than the 75.4% in the first quarter and the lowest percentage since the third quarter of 2019.

Here is a look at the top 10 IPOs of the second quarter of 2021 and how they have performed.

Shares of AppLovin currently trade at $70.78, falling since the April listing.

Shares priced at $56 and hit a high of $90 after going public. Shares currently trade at $63.17, up from the IPO price.

3. Neuberger Berman Next Gen Connectivity Fund (NYSE:NBXG): Launched in May, NBXG raised $1.50 billion in an offering for a closed-end fund. The closed-end fund has a theme of next-generation connectivity, which includes companies involved in the growth of 5G.

Shares priced at $20 and trade at $20.02, flat since the offering.

The company priced shares at $27. Shares currently trade at $28.86, up slightly from the offering.

The stock has been one of the best-performing IPOs of the second quarter, with shares currently trading at $63.93.

Related Link: 7 IPOs To Watch In The Second Half Of 2021

6. TuSimple Holdings Inc (NASDAQ:TSP): Autonomous trucking company TuSimple raised $1.35 billion in an April IPO. The company has over 2.8 million road-tested miles and more than 5,700 reservations for its autonomous trucks. The company plans to sell its products under a carrier-owned model and a pay-per-mile option.

Shares were priced at $40 and hit a high of $79.83 in June. Shares currently trade at $41.98.

7. Agilon Health Inc (NYSE:AGL): Medicare-centric company Agilon Health raised $1.23 billion in an April IPO. The company serves more than 210,000 patients in 17 geographic areas. Membership and revenue grew 45% and 53% year-over-year respectively in fiscal 2020.

The company priced shares at $23 a share. Agilon shares currently trade at $34.73, up from the IPO.

8. Western Asset Diversified Income Fund (NYSE:WDI): In June, Western Asset Diversified Income Fund raised $1.0 billion. The company is a closed-end fund that seeks to find high current income and capital appreciation.

Shares were priced at $20 and currently trade at $20.02. The fund has traded in a close range of $19.76 to $20.60 since going public. 

Bright Health priced shares at $18, below the initial range of $20 to $23. Shares have fallen by around 50% since the offering, currently trading at $9.26.

10. Confluent Inc (NASDAQ:CFLT): Data infrastructure company Confluent helps more than 2,500 customers with omnichannel solutions, real-time inventory management solutions and other items. The company had revenue of $236.6 million in 2020.

Confluent priced shares at $36 and raised $0.83 billion in its IPO. Shares have performed well since the June IPO and are trading at $55.95.

Photo: Gerd Altmann via Pixabay