普华永道：2023年第二季度全球IPO观察报告（英文版）（12页）.pdf

1、Global IPO Watch Q2 2023PwC|Global IPO Watch 2021Headlines2PwC Global IPO Watch Q2 2023Major global economies seeking to curb inflation with more restrictive monetary policies,dampening growth.Whilst the US economy is defying recession predictions,following the debt ceiling resolution equity markets

2、 entered a new bull market in Q2 2023.However,weak leading economic indicators point to a slowdown.Despite recent moderation in headline inflation,core inflation is proving stickier,creating further expectations of tightening and higher interest rates for longer.Despite robust equity capital markets

3、 performance and subsiding volatility,IPO activity remains muted in the US and Europe.IPO valuation and aftermarket performance remain front of mind,with investors demanding significant IPO discounts in recent IPOs.Unsurprisingly,as inventors existing portfolios are performing well,IPOs present high

4、er risk and uncertainty,feeding into lukewarm investor appetite.Mainland China and the Middle East continue to dominate global IPO markets.As rising interest rates and monetary policy uncertainty curbed appetite for IPOs in the US and Europe,Mainland China and the Middle East remained active,helped

5、by a streamlined listings regime for the Shanghai and Shenzhen stock exchanges and a privatisation push in the Gulf.Strong equity markets together with lower volatility created perfect conditions for follow-on equity issuance.Secondary equity markets continue to work well in the US and Europe with a

6、 number of significant transactions pricing this quarter.Low volatility and supportive indices performance created attractive conditions for well-known stocks to raise money and create liquidity for shareholders.Technology sector once again stood out this quarter,particularly with the buzz building