A host of companies have filed for U.S. initial public offerings this week in the busiest period in recent history, as businesses rush to take advantage of ample investor appetite for new stocks.
There were 17 filings of registration statements to go public this week as of Friday morning, the highest in the last five years, Refinitiv data showed.Action by the U.S. Federal Reserve earlier this year to pump cash into markets has driven equity markets back up to record highs despite the economic hit from the pandemic.
Some companies have been able to notch eye-watering gains. Retail software firm BigCommerce Holdings Inc has seen its shares rise over 300per cent since its public debut earlier this month. Companies have raised more than US$70 billion in U.S. IPOs so far in 2020, already outpacing a US$62.5 billion haul for all of 2019. That puts the year on track to be the busiest since 2014 and second-biggest since 2000.
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