Investment bankers had a brutal year. One big reason: a dearth of initial public offerings. Thirty-seven companies went public in 2022 and raised a mere $7 billion, the lowest amount of IPO proceeds since 1990’s $4.3 billion, says Jay Ritter, a University of Florida finance professor. Ritter’s numbers don’t include special purpose acquisition companies, American depositary receipts, real estate investment trusts, or closed-end funds.
There was also a dearth of high-profile IPOs. The biggest name is probably
Mobileye Global
which started trading on Oct. 26.
Intel
acquired the developer of self-driving-car-systems chips and software in 2017 and sold about 6% of the unit in the offering, retaining more than 99% voting control through Class B shares. Mobileye Global shares rose 38% on their first day, and are up about 14% since that day’s close.
Source: https://www.barrons.com/articles/the-2022-ipo-market-a-dearth-of-volumes-and-names-51671845357?siteid=yhoof2&yptr=yahoo