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Global IPO Market Eyes Record First Quarter Even as SPACs Falter

  • Blank-check listings make up about half of offerings this year
  • Stimulus, low interest rates spur demand for new stocks
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NYSE President on SPACs, Roblox IPO, Possibly Moving

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.