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Expand chart
Adapted from a BDO report; Chart: Axios Visuals

Despite messaging app Slack reportedly opting for a direct listing rather than an initial public offering, investors still expect 2019 to be a good year for IPOs.

What they're saying: Of the 100 bankers polled for BDO's 2019 IPO Outlook Survey, 71% expected that 2019 would match or outpace 2018's IPO activity.

  • Tech is expected to lead the way with 71% of respondents saying they see the number of IPOs in the sector increasing, followed by biotech and healthcare. Conversely, 49% of those polled expect consumer retail to see a reduced number of IPOs this year.

Yes, but: The optimism came in the face of declining data and expectations by 52% of bankers for a market correction in 2019. The survey was taken during December's stock market swoon, the worst month for the S&P since the Great Depression.

Other takeaways from BDO's survey:

  • 42% of bankers believe IPO activity in 2019 will increase, 29% expect it to stay roughly the same as 2018, and 28% expect IPO activity to decrease.
  • 12% of bankers say the pricing of a Unicorn like Uber or Lyft will be the most likely factor to spur increased IPO activity overall this year.
  • 37% expect private equity portfolios to generate the most IPOs this year; 35% see venture capital as the top source.
  • 12% of bankers view ICOs as a threat to traditional IPOs, down from 19% in 2017.
  • 61% of bankers expect the average size of U.S. IPOs will be between $200 million–$299 million, on par with 2018 averages.

More than half of those surveyed said it was the pro-business climate of the Trump administration and increased confidence in the U.S. economy that would spur the increase in newly public companies this year.

Go deeper: Breaking down the Uber-Lyft-Slack IPO rush

Go deeper

Live list: The "Facebook Papers" arrive

Illustration: Annelise Capossela/Axios

Reports based on leaked whistleblower documents from Facebook, known as the Facebook Papers, appeared in a broad range of news outlets Monday, shedding light on what company knew about harms caused on its platform and how it handled that information.

Why it matters: The reports paint a detailed picture of Facebook's efforts over the years to grapple with major problems — from hate speech to inciting violence — while continuing to pursue its business objectives.

U.S. will now allow private citizens to sponsor Afghan refugees

A family boards a bus at the airport that will take them to a refugee processing center after being evacuated from Kabul. Photo: Anna Moneymaker/Getty Images

Americans wanting to help vulnerable Afghan refugees now have a new way to get involved through a new U.S. private refugee sponsorship program announced Monday.

  • Groups of at least 5 adults can apply, complete background checks and start fundraising the $2,275 per refugee required.

Why it matters: It’s a big shift in the U.S refugee process, which has long relied on non-profits.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

What we’re watching during the final countdown to COP26

Illustration: Eniola Odetunde/Axios

This is shaping up as a critical week for climate policy in the U.S. and worldwide.

Driving the news: Democrats are in the final stages of trying to craft the big social spending and climate package they're trying to move on a thread-the-needle party-line vote.