January is, on average, the weakest month of the year for IPOs and 2012 looks likely to be no exception, as just 3 IPOs came to market in the past month, raising a combined $242.1M. The dearth of IPOs is especially dramatic when compared to the strong showing in January 2011, which saw 8 deals price for $4.5B. The scarcity of IPOs comes in contrast to strong broader markets, which have seen the S&P 500 jump 4.4% since the New Year, compared with a 2.3% increase in the year-ago month. Though y/y proceeds fell 94.6% and deal count dropped by 62.5%, the stronger market performance likely helped 2012’s few IPOs perform better, with an average first-day pop of 14.5%, up from 8.4% a year ago.