U.S. IPOs hit annual record in less than six months – Reuters
- Date: 19-Jun-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
U.S. IPOs hit annual record in less than six months – Reuters
June 15 (Reuters) - Wall Street's record-breaking run for stock market flotations shows no signs of slowing down.
With more than six months until the year ends, U.S. initial public offerings have already totaled $171 billion, eclipsing the 2020 record of $168 billion, according to data from Dealogic.
Driving the IPO rush are sky-high corporate valuations in the stock market, inflated by the Federal Reserve's low-interest rates and monetary stimulus in the wake of the COVID-19 pandemic. This has fueled a wave of speculative frenzy that benefit not just traditional companies going public, but also special purpose acquisition companies (SPACs) formed strictly to raise money through IPOs.
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