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So far this year, just 22 companies have gone public in traditional IPO's, raising a combined $2.3 billion. That is a huge downshift from last year, when 79 companies had raised nearly $36 billion by this point. Consensus on the best candidates to reopen the IPO market are profitable, fairly large, raising around $500 million, and be “must-own” names in their industries.
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A shift toward profitability would be a big change from the IPO market’s record run of 2020 and 2021, when unprofitable companies with big growth ambitions caught investors’ attention and went public by the hundreds. Now those companies are falling out of favor as rising interest rates change investors’ calculus.
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More posts by Gareth Jones
