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Global IPO proceeds slump to 2009 lows as investors lose appetite for risk
GLOBAL IPO activity fell off a cliff in the third quarter as extreme volatility in capital markets collided with low summer trading volumes, Renaissance Capital said yesterday.
The 55 global IPOs floated in the three months to September raised just $19bn (£12bn), the lowest since the second quarter of 2009 and almost a 60 per cent fall on the previous year.
Renaissance said investors elected to buy stocks they knew rather than take a chance on a new issuer.
Separate Dealogic data showed UK companies this year so far have raised just $13.7bn through 334 deals, the lowest volume ever recorded.