The first quarter of the new year brought some strong debuts by companies going public, including impressive post-IPO performances. This rediscovered enthusiasm for new offerings was fueled, in no small part, by the hype and hyperbole of AI remaking the economy.
IPO Market Quality Improves
Solely looking at total new offerings year-over-year, last quarter’s performance was comparable to that of Q1 2023. The number of initial public offerings of at least $1 million priced on US exchanges increased by only three, from 47 to 50 in 2024, or 6.4%.
Those figures improved despite SPAC IPOs retrenching from 11 offerings raising ...