Companies last year defied the coronavirus pandemic to go public at a record pace. Now, market volatility, inflation and fears of a downturn have brought an abrupt end to the listing party.
Companies have raised a combined $4.9 billion via US initial public offerings this year, less than 6% of the record sum raised in the first half of 2021, according to data compiled by Bloomberg, While 2021’s volume was an historical outlier, this year’s paltry total distantly trails the $47 billion five-year average for the period.
