Reddit, TPG Partners Highlight Crowded 2022 IPO Pipeline
- High-profile IPOs follow crop of 2021 deals that disappointed
- SpaceX, Stripe among potential surprise blockbusters
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TPG Partners LLC, Reddit Inc. and Via Transportation Inc. are among the high-profile companies headlining a crowded pipeline of 2022 initial public offerings after a record year of issuance delivered lagging returns.
Private-equity firm TPG set terms on Tuesday for an IPO that could raise a little over $1 billion. The first major listing of the year will set the tone for nearly 500 other U.S. IPOs whose prospectuses are already on file. They will test an IPO market that’s grown more discerning after last year’s returns failed to keep pace with the broader market.