The global market for initial public offerings is headed for its biggest-ever first quarter, even as skepticism grows about the U.S.-led boom in blank-check listings that fueled the frenzy.
A record $162.4 billion has been raised by more than 600 issuers in 2021, the most ever at this point in the year, data compiled by Bloomberg show, with special-purpose acquisition companies accounting for half of the proceeds. In comparison, just $37 billion was raised in the first three months of 2020.
