Worst IPO year in three decades
After a real US IPO bonanza, the world’s largest shopping mall is completely silent. The dark environment now threatens to be fatal for many newcomers.
This year, auto-robo company Mobileye made the second-largest IPO of 2022 on the Nasdaq tech exchange. Only pension insurer Corebridge took in even more.
Image: Michael Nagle/Bloomberg
Two fat years are followed by the great drought. In 2022, just 37 companies went public on the New York Stock Exchange in the world’s largest trading venue, grossing “just” $7 billion in total. That’s the least since 1990, when $4.3 billion was borrowed, according to Jay Ritter, a finance professor at the University of Florida. The numbers don’t include Change of coats (Spac), Real estate funds or American Depositary Receipts (ADR), with which already listed foreign companies have a second listing on the US stock exchange.
