Tech groups boost IPO revival hopes despite market tumult

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Financial Times 12h ago

Tech groups boost IPO revival hopes despite market tumult - Financial Times

Quick Summary:

An IPO boom in 2021 gave way to three sluggish years for deals, but investors had anticipated an uptick in public listings this year following the US election and as interest rates started to decline.

The recovery has been prolonged, resulting in a backlog of companies staying private for record durations.“Basically, if it doesn’t happen in April, then 2025 is going to be a complete dud [for IPOs],” said an adviser to several pre-IPO tech companies.

They pointed to specific needs for capital at each of the companies that have filed publicly to list, such as CoreWeave’s large debt pile and a competitive market for Klarna that has led to a slump in its valuation.