The volume of IPOs has picked up slightly in the second quarter after the historically slow first three months of the year. Still, those waiting for a stampede of 'unicorns' to hit the new issue market will likely have to wait until 2017, says Jackie Kelley, Americas IPO markets leader at EY. 'The unicorns are lining up and definitely coming. I think we will see one this coming quarter, but 2017 is our year for unicorns,' said Kelley. Though there have been some bigger IPOs of late including U.S. Foods (USFD) and MGM Growth Properties (MGP) , but overall activity has been slow compared to last year. There have been 32 IPOs this quarter, raising $6 billion. In the second quarter of 2015 the market saw 72 IPOs, drumming up $14 billion in proceeds. Kelley said VC and PE-backed companies have been pretty much the driver for 2016 US IPOs, and she expects this to continue throughout the rest of the year.
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