Refilling a depleted IPO Pipeline.

• Author: Ladd, Scott
• Position: INVESTMENT

The number of registered initial public offerings rose in the third quarter to its highest level since 2007, fueled by a 19-percent increase over second-quarter results, according to Ernst & Young LLP.

Technology and Chinese companies are driving the increasing activity among current IPOs and new registrants, the quarterly Ernst & Young U.S. IPO Pipeline study revealed. The amount invested in new companies grew to $26.4 billion, an increase by quarter of four percent.

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Nineteen of the companies registered for IPOs in the United States are foreign-based, primarly from China. Of the 16 Chinese companies cited, all of them filed to raise $100 million or less.

The Chinese entrants, said Maria Pinelli, E&Y's Americas director, Strategic Growth Markets, come from varied industries, including mining, education, consumer products and business services--"quite a change from the usually technology-heavy Chinese registrations."

Jackie Kelley, E&Y's Americas IPO Leader, said nine...