Hong Kong CNN —
A slowdown in global initial public offerings continued in the first quarter of 2023 and is likely to endure in the coming months, as companies wait out the effects of volatile stock markets, higher interest rates and inflation, and uncertainty around the banking crisis.
That’s according to an EY report Thursday, which found that 299 companies around the world went public over the past three months, down 8% compared to the same time last year. Funds raised from those listings, meanwhile, plummeted 61% year-on-year, to $21.5 billion.
The slump follows a 45% drop in the number of IPOs last year, according to EY.
“Through just one quarter of 2023, it was more of the same for the stuttering global IPO market,” the firm said in a statement Thursday.
“Any initial euphoria at the start of the year was quickly dampened by the unexpected…
2023-03-29 23:30:14
Source from www.cnn.com