Goldman Sachs Group Inc. is helming a string of initial public offerings next month that could help pry open the business after a near two-year lull. Those IPOs, including those from chip designer Arm Holdings Ltd. and grocery-delivery company Instacart, may also spur renewed interest in other parts of investment banking.
The deals could also lift fortunes for bankers at Goldman, where a dearth of dealmaking has hit the firm at a time when other units have misfired, cutting into profits. The Wall Street giant is one of the key banks behind the highly anticipated IPO of SoftBank Group Corp.’s Arm, which is expected to raise several billion dollars and would mark the biggest US offering since November 2021, delivering a much-needed boost to the moribund market.