Wednesday, February 1, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home IPOs

Global IPO market never hotter than it is right now, Companies & Markets News & Top Stories

MtR by MtR
June 27, 2021
in IPOs
0


LONDON (BLOOMBERG) – Companies are racing to public markets like never before, cashing in on record-high stock prices.

An all-time high of almost US$350 billion (S$469.8 billion) has been raised in initial public offerings (IPOS) in the first six months of this year, according to data compiled by Bloomberg, surpassing the previous peak of US$282 billion from the second half of 2020 and enriching entrepreneurs and bankers alike.

When the rush for IPOs kicked off last year, stay-at-home technology dominated the scene, seizing on investor interest in anything digital, while special-purpose acquisition companies (Spacs) also flooded the market. This year, with stocks continuing to push skyward, the trend has broadened to include renewable-energy companies and online retailers.

Everyone from Swedish oat-milk company Oatly Group to bootmaker Dr. Martens sold shares in 2021. Still, tech accounts for a big chunk of the deals. Didi Global will rank among the biggest US IPOs of the past decade if the Chinese ride-hailing giant carries through with plans to sell as much as US$4 billion in stock.

“The markets from New York to Hong Kong were on fire in the first half of this year and have left even the late 90s dotcom boom era in the rearview mirror,” said Aaron Arth, head of the financing group at Goldman Sachs Group Inc. in Asia ex-Japan.

The boom has been fueled by a torrent of cash that central banks have pumped into the economy and the rise of individual investors, who are eager to buy a piece of their favorite companies.

It’s delivered a windfall for investment banks around the world, who reap the rewards from underwriting and advisory fees. Citigroup and Goldman Sachs Group are leading the global league tables for IPOs this year.

With so many companies rushing to market, the industry is starting to look saturated. Investors say they can afford to be picky and are increasingly reluctant to pay steep valuations demanded by the fast-growing companies that populate the IPO market.

As a result, a number of high-profile stocks have stumbled in their trading debuts this year and some companies are getting spooked. Food-delivery start-up Deliveroo plunged 26 per cent on its first day of trading in London, while Oscar Health, the insurance start-up co-founded by Josh Kushner, has fallen 40 per cent since joining the New York market.

Russia’s Nord Gold on Tuesday (June 22) pulled its IPO, citing market uncertainty and swings in the gold price, while Genworth Financial last month postponed a US offering for its Enact Holdings mortgage-insurance unit. And Friday, Hong Kong-traded Geely Automobile Holdings withdrew its application for a listing in Shanghai.

“There has been a certain level of exhaustion among investors and increased selectivity,” said Saadi Soudavar, co-head of equity capital markets for Europe, the Middle East and Africa at Deutsche Bank. “It’s a record year after all, so they can have their pick among the multiple transactions coming their way.”

Investor appetite for one type of listing has already faded. Spacs accounted for almost half the proceeds raised in the IPO market in the first quarter, but their share shrunk to about 13 per cent this quarter.

An index that tracks Spac listings has dropped 23 per cent from a February high. The poor performance, along with tougher regulatory scrutiny has been a blow to market sentiment. US officials have cautioned individual investors against celebrity-endorsed cash shells and are scrutinising accounting practices.

Still, as long as the stock market is rising, the flow of IPOs is unlikely to dry up, and total proceeds this year are on track to eclipse the record of US$420.1 billion set in 2007. The IPO boom will likely continue for the next six to 12 months, said Rob Leach, European head of equity capital markets at Jefferies Financial Group.

Trading app Robinhood Markets has a US offering in the works, while cloud-storage company OVHCloud plans to list in France and Volvo Cars is considering an IPO in Sweden.

“There is a degree of uncertainty about how long the party will keep going, but we expect to see a very busy third-quarter,” with a big pipeline of companies lining up to list after the summer, said Deutsche Bank’s Mr Soudavar.





Source link

Related articles

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

August 10, 2022

NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

August 10, 2022

Related Posts

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

by MtR
August 10, 2022
0

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year  South China Morning Post Source link

NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

by MtR
August 10, 2022
0

Plans to replace NSW’s core policing system with a new cloud-based crime-fighting platform are in disarray after NSW Police terminated...

Syrma share sale to offer cues for IPO fence-sitters

by MtR
August 9, 2022
0

MUMBAI : The primary market will offer important cues to IPO-bound companies and investors this week. After a dry patch...

AIG eyes September as next window for unit’s IPO

by MtR
August 9, 2022
0

AIG, one of the world's biggest commercial insurers, on Monday blamed market volatility for the delay, becoming the latest company...

Gov. AbdulRazaq mourns Chief Imam of Ajase-Ipo

by MtR
August 9, 2022
0

The Governor said the death of the Chief Imam was a depletion in the rank of community leaders whose leadership...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter