Initial public offerings are back in vogue and exchange-traded fund providers are attempting to get in on the action.

In May, 28 businesses floated on US stock exchanges, the highest monthly total of IPOs since November 2007, according to data provider Dealogic. In Europe, consultant PricewaterhouseCoopers' IPO Watch revealed that the value of launches in the first quarter was up almost 40% on 2012, as companies sought to take advantage of the uptick in stock market performance and low volatility.