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IPOs Get Slow Start as Facebook Readies Sale to Spur Rebound

In a year heralding the landmark initial public offering of Facebook Inc., share sales got off to a slow start.

While more companies tapped equity markets in March, IPOs globally raised $16.2 billion in the first quarter, the least since 2009, data compiled by Bloomberg show. That kept the backlog of deals in the U.S. near the highest in more than a decade, according to Renaissance Capital LLC.