Back from the dead, IPOs picking up again on Wall Street
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AFP
AFP
New York (AFP) – The IPO parade of the early pandemic years crashed to Earth in 2022, but there are hints of a potential 2023 rebound despite plenty of lingering caution. Last year the US IPO market “ground to a halt,” according to Renaissance Capital, with only $7.7 billion raised, down a whopping 95 percent from 2021 and a record low since the firm started recording data on companies going public 31 years ago. The dramatic decline came as financial conditions tightened following US Federal Reserve interest rate hikes and a rout in the stock market. While worries over the economy have not van…