NEW YORK -- The fourth quarter of 2007 showed a significant amount of initial public offerings (IPOs) in the U.S. markets' pipeline, according to the quarterly Ernst & Young LLP U.S. IPO Pipeline Report.

As of December 31, 2007, there were 90 IPOs in the pipeline to raise $16.8 billion. Over a quarter of these potential IPOs -- 24 companies -- were new registrants as of the fourth quarter.

Four were foreign-based companies attracted to the U.S. markets, including one, MagnaChip Semiconductors LLC from Luxembourg, which was the fourth-largest deal in the pipeline. Other foreign companies in the IPO pipeline include Alma Lasers Ltd (Israel), Asia Time Corp. (China) and Hong Kong Highpower Tech Inc.

"The IPO pipeline, combined with the significant number of companies that actually went public in 2007, shows promise, despite some uncertainty. The steady flow of players into the pipeline in the latter part of 2007 encompassed a wide range of sizes and industries, and included foreign investors," said Maria Pinelli, Americas Director, Strategic Growth Markets, Ernst & Young LLP. "Based on the fourth quarter numbers, we see a pipeline dominated by technology, healthcare and energy -- sectors in which private equity and venture capital have a significant foothold."

The three most active sectors in IPO registrations at the end of the fourth quarter were technology (23), oil and gas (15) and biotech (14).

Oil and gas companies filed to raise $5.3 billion, technology filed to raise $2.8 billion and pharmaceuticals filed to raise $1.6 billion. Notably, three deals in the asset management sector filed to raise $1.6 billion, and technology's numerous potential IPOs filed to raise $1.1 billion.

"Overall, 2007 was a strong year for IPOs. Though these pipeline volume and dollar numbers show a slight decline from the pipeline of 2007's third quarter, they still represent a promising IPO market heading into 2008, if the capital markets can demonstrate stability," said Jackie Brya, Ernst & Young's IPO Leader for the Americas.

State by state, California companies were the most active with 15 registrants, representing 16.7 percent of the total number of IPOs in the pipeline.

Texas followed with 11 registrants and Massachusetts with seven.

Technology and biotech companies were particularly active in California and Massachusetts, while Texas saw numerous potential oil & gas IPOs.