Tech IPOs Hit $4.5B In Q2

Proceeds from technology industry IPOs in the second quarter reached $4.5 billion, a ten-fold increase from the $488 million raised in the year-earlier period. The tech sector also accounted for more than a third of the $11.9 billion total in IPO proceeds in the quarter, according to new PwC data.That amount was more than double the $5.2 billion raised a year ago and marks the third straight quarter IPO proceeds have surpassed $10 billion. The number of tech IPOs increased to 11 from 7 a year ago and to 47 from 41 overall.

Among the most high profile tech deals was the LinkedIn IPO in May, which raised $238 million and saw the professional networking site's stock price soar briefly above $100 on the first day of trading. Social games giant is expected to file as soon as today for an IPO that could raise $2 billion in a revived market for Internet company offerings.

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