Back in the game: IPO stocks surge in 2024 as 'animal spirits' hit equity markets
31/12/2024 15:26
** U.S. initial public offerings recovered from nearly a
three-year drought in 2024, with analysts and bankers expecting
a more robust 2025
** Hopes for a broad revival have been fueled by major
equity indexes hitting record highs, return of Donald Trump to
the White House and the strong post-debut performance of marquee
listings this year
** "News of IPO deals emerging across multiple industries
strengthens our faith that the listing markets will meaningfully
reopen in 2025," Running Point Capital's CIO Michael Ashley
Schulman told Reuters earlier this month
** U.S. IPOs raised a total of $40.98 bln in 2024 through
218 listings, as of Dec. 19, compared with $23.96 bln from 148
deals during the same period last year, according to data from
Dealogic
** Reddit RDDT.N , the microblogging platform behind the
popular WallStreetBets forum, leads gains among top listings of
the year, with a nearly five-fold surge from its IPO price
** Wilson tennis racket maker Amer Sports AS.N and cruise
operator Viking VIK.N are up 118.5% and 85%, respectively, YTD
** Microsoft-backed Rubrik RBRK.N has gained 113% this
year, while AI chip firm Astera Labs ALAB.O has surged 279%;
healthcare payments firm Waystar WAY.O has climbed 72%
** Notably, 2024 also marked the return of Chinese listings
in the country, including EV maker Zeekr ZK.N
** Renaissance IPO Index .FTIPOUSA — tracking high-profile
listings — up ~17.5% YTD
** Wall Street is reportedly set to witness the IPOs of
fintech giant Chime, healthcare giant Medline and AI chipmaker
Cerebras in 2025
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Major IPO stocks of 2024 surge as 'animal spirits' hit equity
markets https://tmsnrt.rs/40qh481
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(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))