A flurry of stock sales by companies points to a likely wave of initial public offerings launching come September, potentially marking the end of a weak market for debuts that has persisted for a year and a half.
“Historically, follow-on activity of this magnitude should lead to animal spirits in the IPO market,” said Daniel Burton-Morgan, head of Americas syndicate for equity capital markets at Bank of America Corp. Goldman Sachs Group Inc’s IPO Issuance Barometer, which measures how conducive the macroeconomic environment is for IPOs, is now at its highest level since March 2022.
The tally included Intel Corp selling $1.6 billion worth of stock in former self-driving technology unit Mobileye Global, and General Electric’s $2 billion sell-down of is stake in GE Healthcare Technologies.Major companies are waiting in the wings to launch their market debut come September, when the IPO window traditionally opens after a summer lull.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CTVNews - 🏆 1. / 99 Read more »
Source: financialpost - 🏆 7. / 85 Read more »
Source: nationalpost - 🏆 10. / 80 Read more »
Source: fpinvesting - 🏆 43. / 63 Read more »