U.S. initial public offerings since 2009 finds few new publicly-traded corporations are led by female chief executives. A search by S&P Global Market Intelligence data of completed IPOs since 2009 for domestic U.S. companies listed on major U.S. stock exchanges, closed-end funds, uncovers just 29 with female CEOs either at present or at the time of the offering. This represents less than 4% of the 750 IPOs priced in the past seven-plus years.
Additionally, of the nearly $202 billion in IPO underwriting proceeds raised by U.S.-based companies since 2009, less than $22 billion, or about 10.6% of IPO underwriting proceeds, was raised on behalf of IPO with a female CEO either at the time of the offering or at present. With regard to that amount, the largest share of IPO proceeds from female CEO-led companies, either at the time of issue of currently, came from General Motors Company’s November 2010 $15.8 billion offering whereupon GM’s present CEO, Mary Barra, assumed office in January 2014.
Other than the GM IPO, the only other female CEO-led U.S. IPO that raised over $1 billion and was priced since 2009 was the $2.88 billion offering by Synchrony Financial in July 2014. That company CEO is Margaret M Keane.
The high water mark for recent IPOs led by female CEOs came about in 2014 where we find 10 corporations, out of 209, which were led by a female executive either at the time of offering or at present. In 2016 to date a single U.S.-based company IPO completed, Cambridge-based biotechnology firm Editas Medicine Inc. which went public in a $94.4 million offering, has as its CEO, Katrine S. Bosley.