In their respective follow-on stock offerings this week, Roivant Sciences and Vera Therapeutics upsized their offerings to raise more money than they planned thanks to stronger-than-expected demand.
Bankers say a flourishing follow-on market will pave the way for IPOs.
Still, there have been just three IPOs this year that raised at least $50 million, according to Dealogic.
Traditional IPOs in the U.S. raised $8.6 billion in 2022, the slowest year in at least two decades.
IPO advisers are starting to sound more optimistic about 2023’s prospects.
Earlier this week, solar energy company Nextracker launched its IPO roadshow, aiming to raise up to $535 million.
Kenvue, the consumer-health business unit of Johnson & Johnson, recently filed regulatory paperwork for its planned IPO. Last month, fintech giant Stripe set a one-year timetable to decide on going public.
Link:https://www.wsj.com/livecoverage/stock-market-news-today-02-03-2023/card/ipo-market-shows-signs-of-life-FQSlLmz58vnFm91DJSgU