According to relevant data, 96 IPOs have raised $18.8 billion in 2023. That's following on 2022, when a measly $7.7 billion was raised, the worst year for IPOs in decades. By contrast, a normal year should see at least $50 billion raised.
.The bad companies can't go public, and the good companies don't want to go public in a bad market. A terrible performance for stocks in October, higher-for-longer interest rates, poor after-market performances from the recent spate of initial public offerings this summer and the prospects of dramatically lower valuations appear to be causing many IPO candidates to rethink or delay their debuts.
Waystar, which was considering launching its roadshow is reportedly delaying its IPO until December or into 2024.
Recently Panera Bread was laying off 17% of its corporate staff in advance of a possible IPO next year. Others still interested in an IPO may have to take very large haircuts.
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by- ANDREW SMITH
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