DATA GRAPHICS | Data Byte
Unsticking the IPO window?
In what could be a sign of a brighter second half, 14 IPOs raised $1.5 billion in 2Q23
July 11, 2023 12:41 AM UTC
Ten companies raised $749.7 million in IPOs in June, suggesting the IPO market may be thawing. The June pricings joined four offerings in April and May to bring the 2Q23 total to $1.5 billion, and the 1H23 total to just under $2 billion.
The largest IPO in 2Q23 was May’s $621 million NASDAQ debut by Acelyrin Inc. (NASDAQ:SLRN), which tacked on more in its overallotment ($81 million) than most other offerings raised this year. The deal accounted for 43% of the total raised in IPOs in 2Q23, and 31% year-to-date. The stock was one of the quarter’s top performers, gaining 16%. Overall, at quarter end, the 2Q23 IPOs were down a median of 6% from their postmoney valuations...