Dec 17, 2023 - Business

The IPO rebound faded just as quickly as it began

Kia Kokalitcheva

Initial public offerings weren't expected to return in full force until 2024. But the relatively modest trickling back was halted with the unexpected outbreak of the Israel-Hamas war in October.

Why it matters: Companies are anxious to hit the market — and investors (and their backers) are anxious to cash out.

By the numbers: After effectively having no tech or consumer public listings following the market downturn, a few companies — like Arm, Instacart and Klaviyo went public in the fall.

Overall, 107 U.S. IPOs this year raised $19.4 billion in proceeds, according to Renaissance Capital data. That's up from 71 IPOs raising $7.7 billion in 2022, but roughly on par with 2016's IPO market — the second-slowest year in the past decade.

What we're watching: Earlier this week, investment firm General Atlantic confidentially filed to go public.

It's a preliminary step that doesn't indicate much about timing, yet it does suggest the company wants to be ready when the right moment comes.
Others — like Shein, Apex Fintech and Panera Brands — have also confidentially filed and are waiting in the wings.

Add Axios on Google

The IPO rebound faded just as quickly as it began

What to read next