 "markets, IPO market")
Initial public offerings are heading for their longest drought since the global financial crisis — and bankers don’t expect a revival anytime soon.
A mix of rising inflation and interest rate hikes aimed at taming it have hurt stock market valuations and eroded investor appetite for the high-growth IPO candidates that have driven deals in recent years. Just $207 billion have been raised this year from listings — 68% down versus last year — as a surge in flotations in China and the Middle East failed to make up for a frozen US market.
“Two things are needed for ECM
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