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July 2017 Recap: Least active July since the financial crisis with 9 IPOs

July 2017's 9 IPOs make it the slowest July since 2009. Down from 10 IPOs last year, this is the first month in 2017 to come in below the prior year period. Despite pricing an average of -9% below the midpoint, July IPOs averaged a total return of +29%, compared to +11% for IPOs this year. New filings were also down this month, tying the lowest number since July 2003.

Headlined by high-flying online real estate broker Redfin ( RDFN ), the month featured an eclectic mix of offerings with three biotechs, a bank, a mortgage REIT, a pet meds company, a...