U.S. initial public offerings totaled $9.4 billion in the first quarter, the highest quarterly figure since at least the start of 2022, based on data collected by Renaissance Capital. There were 44 deals. However, IPO listings dropped off later in the quarter as equity markets sold off. Looking at larger deals, among the 15 IPOs that raised at least $100 million, 13 were priced in the first half of the quarter.
U.S. IPO market starts quarter strong, then tails off
U.S. equity market indexes, which posted strong gains in January, had negative returns in February and March. This month, the S&P 500, Russell 2000, Nasdaq Composite and Nasdaq 100 indexes each lost about 3% through March 24.
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