Companies

Proceeds of IPOs tumbles by a third in 2023 with subdued sentiment

There were 1,298 IPOs raising $123.2 billion this year which is an 8 per cent decrease in volume and a 33 per cent decrease in proceeds year-on-year

After two years of muted listings, IPO issuers and investors were enthusiastic for a market upswing, but this enthusiasm dampened after September when a number of high-profile IPOs did not meet market expectations. Picture: Getty

The proceeds of initial public offerings (IPOs) tumbled this year, according to the 2023 EY Global IPO Trends Report.

In total there were 1,298 IPOs raising $123.2 billion, representing an 8 per cent decrease in volume and a 33 per cent decrease in proceeds year-on-year, according to the report.

An improved Western market sentiment and a pickup in deal volumes in both the Americas and EMEIA (Europe, Middle East, India and Africa) was counterbalanced by ...