IPO hopefuls around the world are scrapping their floats and companies are icing secondary raisings at a furious pace as the prospect of central banks tightening policy andP 500 dropped nearly 6 per cent in January, a record 25 IPOs worth $US6.1 billion were withdrawn in the US, according to Dealogic, a data provider. This took the global monthly withdrawn tally to $US7.9 billion, or 54 companies, the highest number in over a decade.
The local market’s biggest float of 2021, GQG Partners, is sitting 36 per cent below its offer price, while Judo Bank is down 12.3 per cent and APM Human Services International has shed 21 per cent from their listing prices respectively. The number of companies withdrawing deals has accelerated due to the war between Russia and Ukraine, headlined by the postponement of SBI Sumishin Net Bank’s $US1.2 billion float in Japan.
it is better to put a STOP on greedy bankers now They earn $millions commision They can afford to buy mansions in Mossman n Vaucluse The fees from Ausgrid n Westconex have cost us $1bil