Wall Street Bank Leaders Hail IPO Market’s Budding Revival
- ‘We’re in the early stages of a reopening’: Goldman Sachs CEO
- Reddit, UL Solutions, Galderma trading above IPO price
The leaders of Wall Street’s largest banks are optimistic about the reopening of the market for initial public offerings, after listings by firms such as Reddit Inc. and Galderma Group AG boosted underwriting revenues.
Companies going public in the first quarter globally raised $27.8 billion, a 10% jump from the same period in 2023, according to data compiled by Bloomberg. The increase in volume and the resilience of these companies’ gains in early trading is giving encouragement to the industry after slumping equity capital markets activity was among the factors leading to job cuts across the sector.