The global IPO market just hit its inflection point

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It's been about way more than just Reddit.

Reddit co-founder and CEO Steve Huffman at the NYSE. Photographer: Michael Nagle/Bloomberg via Getty Images.We're done with "waiting until market conditions improve" or "uncertainty." If a company has the numbers or story to go public, the only impediment is inertia.Reddit deservedly got most of the headlines, raising $748 million and then closing up more than 48% from its IPO price on its first trading day.

Auna, a Latin American hospital operator that lists today in New York, raised $360 million after pricing just below its offering range.Galderma, a skin care company owned by EQT, raised the equivalent of $2.2 billion, with shares rising as much as 18% in its market debut. It was the largest Swiss franc-denominated IPO in seven years.

It was Germany's largest IPO of 2024, but also something of a disappointment — pricing at the bottom of its offering range and then watching its shares sink on both of its first two trading days.Share on linkedin

 

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