Stock sales reached $4.97 billion in the United States last week, the highest tally since the second week in 2022, according to data provider Dealogic. Globally, stock sales reached $12.3 billion, the most in more than 30 weeks.
Investment bankers and lawyers say companies are seeing strong demand for their stock from investors who believe now is the time to place big bets on the market recovering in the wake of the Federal Reserve raising interest rates to fight inflation. It's a risky proposition, so companies and their backers are seizing on the opportunity for fear it may soon slip away.
"Equity markets have regained some momentum and volatility has decreased, driving animal spirits on the buy side," said Santiago Gilfond, co-head of Americas equity capital markets at Credit Suisse Group AG . He added that the sellers of stock have moderated their valuation expectations, helping to lure buyers.
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