(Reuters) – Market volatility sparked by Russia’s invasion of Ukraine and soaring global interest rates forced investors to back down from backing initial public offerings, driving stock quotes down dramatically in the USA.
According to data from Refinitiv, 2022 is on track to be the worst year for U.S. listings since 2009, with IPOs raising around $5 billion in the first seven months of this year – a decline of 96% compared to the same period in 2021, according to Refinitiv.
Nonetheless, some companies braved a freezing IPO market and went public on US exchanges this year.
Here is a list of the 10 largest IPOs since March:
Company share capital fund
Bausch + $712 million -16% in New Eyewear co, was taken
Lomb Corp York private by private
-17% at Pincus in 2007, and
Toronto later by Canadian company
Excelerate $384 million -21% Founded by Energy
ProFrac $288 million -1% Provides
Hold fracturing services,
Corp a process that breaks
Hillevax $200 million -32% Boston,
Ivanhoé $169 million -24% The mining magnate Robert
Company run by Electric Friedland
Inc focuses on metals for
PepGen Inc $108 million -28% Clinical stage
AN2 $79m -40% Menlo Park-based company
Therapeutic provides therapies
Hannover ~$27 million -7% Financial offers
Bancorp Inc Services, Loans,
Smart $25m -84% based in Hong Kong
Living business design lock
App sets and smart
Group Security Systems Inc.
Nano Labs $20 million -7% China-based chipmaker
Ltd designs products that
(Reporting by Angelique Chen in New York and Niket Nishant in Bengaluru; Editing by Anirban Sen and Lincoln Feast)
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