The equity capital markets saw robust issuance activity in the third quarter, despite a more challenging market backdrop emerging in the latter part of the quarter. ICR’s equity capital markets update offers a detailed look at third quarter and an outlook on what lies ahead.
Highlights include:
- Equity capital markets activity continued to rebound with >$30bn pricing across IPOs (ex-biotech), follow-ons and blocks, up 50% vs. Q3 2022
- ICR is seeing increased preparation activity for issuers targeting a 1H 2024 IPO window
- Despite shifting investor sentiment in the third quarter, the major equity indices remain soundly in positive territory YTD and the VIX below 20
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