Volatility and market uncertainty have taken a big hit on the number of companies going public, driving down initial public offering proceeds by 93% this year, Lynn Martin, president of the New York Stock Exchange said.
“There is a lot of uncertainty and there’s a lot of different forces that are impacting markets,” said Martin during an interview at the Reuters NEXT conference.
The NYSE, which is owned by the Intercontinental Exchange, is the world’s biggest exchange, with more than 2,400 listed companies, as well as being home to over 3,000 exchange traded funds.
Last year was a record for IPOs at the NYSE, fueled in large part by the boom in special purpose acquisition companies (SPACs), but that activity has slowed to a trickle as high inflation and rising interest rates have soured market sentiment and SPACs have drawn regulatory scrutiny. Read more.
