Weeks of stock market volatility have done little to dent the record-setting pace of U.S. initial public offerings, with capital market insiders forecasting a strong finish to the year and a robust pipeline of listings in 2022.
More than 2,000 IPOs raised a combined $421 billion globally by the end of September, a record high, as private companies rushed to attain the soaring valuations of their publicly listed peers. That was more than double the proceeds raised during the same period last year, according to Refinitiv data.
Still, U.S. IPOs proved more resilient than those in Europe, where seven listings were pulled. With U.S. lawmakers agreeing last week to postpone the debt ceiling issue for two months and investors coming to grips with the Chinese property market's jitters, IPO bankers and lawyers said most companies were keeping their listing plans on track.
IPO hopefuls that braved the market volatility were rewarded by investors, albeit less than they previously expected. Shares of U.S. companies that went public in the last four weeks have gone up 25.5% on average, compared with a 42% rise in value for those that went public this time about four months ago, according to Dealogic., said the recent IPO jitters showed that the market was resilient, but that investors were becoming more selective.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The IPO of GlobalFoundries is perfectly timedGloFo had tried to keep up with chipmaking rivals in the race to forge cutting-edge electronic circuitry. In the end it gave up and started catering to the lower end of the market
Read more »
Coming weeks are decisive for Iran nuclear deal, Merkel saysThe coming weeks are decisive for the future of the nuclear deal with Iran, German Chancellor Angela Merkel said on Sunday, adding that every day that passes without Tehran responding to U.S. overtures will result in Iran enriching more uranium.
Read more »
La Palma's volcanic eruption is going strong 3 weeks laterThe volcano on Spain’s La Palma island keeps spewing out endless streams of lava with no signs of ceasing three weeks since its initial eruption
Read more »
Tunisia gets new govt weeks after President Saied sacked PMTunisian PM Najla Bouden, appointed by Kais Saied last month, announces a new cabinet that includes several interim ministers appointed by the president.
Read more »
Tech weakness is a major buying opportunity for investors: InvescoInvesco’s chief global market strategist explains why she’s bullish on technology, a group getting rocked by volatility.
Read more »
The Making Of New York’s $150 Million ‘Cannabis Campus’Ben Kovler’s Green Thumb Industries is expanding its $5.7 billion empire in the Empire State with a lavish new grow facility to compete in the booming marijuana market.
Read more »