In the turbulent market conditions of the first half of the year, what happens to the share price of an IPO after it comes to market has been even more important than usual. However, the new issue league tables with which investment banks are so obsessed, and which form a crucial part of their pitches for new deals, tell only half the story.

This analysis sets out to measure not just the value and number of IPOs which investment banks have completed, but perhaps as importantly, what happened to them in the aftermarket.