Initial public offerings worldwide have plummeted in the first quarter after a record showing in 2021, as volatility stoked by the war in Ukraine and soaring inflation sets investors on edge and scuppers deals.
About $65 billion has been raised via IPOs around the world in 2022, down 70% from $219 billion in the first three months of last year, according to data compiled by Bloomberg. That puts the global market on track for the lowest quarterly proceeds since the onset of the coronavirus pandemic in 2020. Still, companies such as renewable-energy provider Plenitude and skin-care business Galderma are lining up to test investors’ appetite for new shares in the coming months.
