U.S. companies planning to launch initial public offerings (IPOs) in the coming ...
NEW YORK - U.S. companies planning to launch initial public offerings in the coming weeks are hoping that August’s bout of stock market volatility will subside this month, according to investment bankers and capital markets lawyers advising them.
The U.S. trade war with China caused the stock market to seesaw in August. The CBOE Volatility index .VIX, Wall Street’s fear gauge, rose around 12% last month, the second-biggest monthly jump so far in 2019. Last month was also the worst August for U.S. stocks in four years. By contrast, almost 70 companies have registered with the U.S. Securities and Exchange Commission for an IPO, according to research firm Renaissance Capital, which estimates companies could raise more than $15 billion from September until the end of 2019.
“I can safely say that this has been one of busiest Augusts we have ever had in terms of IPOs getting geared up for September,” said David Goldschmidt, global head of capital markets at U.S. law firm Skadden, Arps, Slate, Meagher & Flom.
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