By Echo Wang and Pablo Mayo Cerqueiro NEW YORK/LONDON - Bankers and investors are embracing a degree of optimism for the IPO market following a slew of major market debuts in September thatSaltWire's Atlantic regional weather forecast for September 29, 2023 | SaltWireNEW YORK/LONDON - Bankers and investors are embracing a degree of optimism for the IPO market following a slew of major market debuts in September that made for one of the busiest months since the start of 2022.
In the last four weeks, at least 25 companies in the United States and Europe have joined the stock market, raising hopes that a recovery may be in sight after a lengthy drought in fresh listings. All three companies priced their IPOs at the top end, or above, their indicated price range, highlighting support from investors.
Medical glass producer Schott Pharma debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. In July, German hydrogen firm ThyssenKrupp Nucera and Romanian energy producer Hidrolectrica went public in their home countries. "The success of Klaviyo is a strong affirmation of profitable growth being a path towards a rewarding valuation by the public markets," said Ross Devor, partner at Thoma Bravo, a software-focused private equity firm.
That was the case of Arm, a leader in chip technology, which saw an array of clients including Nvidia and Apple snap up shares, and Schott Pharma, which attracted the Qatar Investment Authority, as it pushes into the growing market for injectable drugs.
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Hopes rise for IPO recovery after September deal rushBankers and investors are embracing a degree of optimism for the IPO market following a slew of major market debuts in September that made for one of the busiest months since the start of 2022. The performance of a spate of high-profile IPOs is being closely watched as an indicator of investors' appetite for new issues. In the last four weeks, at least 25 companies in the United States and Europe have joined the stock market, raising hopes that a recovery may be in sight after a lengthy drought in fresh listings.
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The IPO market looks to bounce back in 2024The IPO market has been a mixed bag this year as many listings displayed generally lackluster performances in raising funds. Hope may be on the horizon for the IPO market as, according to data compiled by Bloomberg, September was a banner month, with companies like Arm Holdings (ARM), Instacart (CART), and Klaviyo (KVYO) debuting on exchanges and raising $7.2 billion dollars. Yahoo Finance's Akiko Fujita and Rachelle Akuffo break down the sentiment for the IPO market going into the next fiscal year. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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Instacart shares fall further below IPO priceInstacart's stock dropped 4% on Wednesday, marking a fresh low a day after it closed for the first time under the price in the grocery delivery platform's high-profile initial public offering. Shares of Instacart, formally called Maplebear, last traded at $28.71 compared to the $30 price set in its IPO on Sept. 18. Retail investors bought almost $12 million worth of Instacart shares in the company's first trading session, and net purchases have steadily declined since then, amounting on Wednesday to about $100,000, according to Vanda Research, which tracks retail trades.
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