Investment bankers have had a brutal year. One major reason: a lack of IPOs. In 2022, 37 companies went public and raised just $7 billion, the lowest amount of IPO proceeds since 1990’s $4.3 billion, says Jay Ritter, a finance professor at the University of Florida. Ritter’s figures do not include special purpose entities, American depositary receipts, real estate investment trusts or closed-end funds.
There was also a lack of high-profile IPOs. The biggest name is likely
Mobileye Global
which traded on October 26th.
intel
acquired the developer of chips and software for self-driving car systems in 2017 and sold about 6% of the entity on offer, retaining more than 99% of the voting power through Class B shares. Mobileye Global shares are up 38% in the first day and about 14% since the close.
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