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Goldman Sachs The Markets

A more ‘disciplined’ IPO market

Oct 6, 2023
Discussion on the current state of the IPO market and its impact on the economy. Positive performance of companies and investors leading to a more offensive approach in the IPO market. Survey results on investors' risk appetite and recession expectations. Adapting capital markets to a high interest rate environment. Exploring how investors value companies in the IPO market and the performance of non-profitable companies.
09:39

Podcast summary created with Snipd AI

Quick takeaways

  • The slow reopening of the IPO market in the Americas region indicates a more offensive and optimistic approach by corporates and investors in 2023.
  • Companies and investors are adopting a disciplined mindset towards IPOs, reflecting the challenging macro backdrop and high rate environment.

Deep dives

Slow reopening of the IPO market

The podcast discusses the slow reopening of the IPO market in the Americas region in 2023. The number of IPOs priced in September surpassed the total amount of IPO issuance for the first nine months of 2022. This slow reopening is seen as a constructive catalyst within the broader equity capital markets product suite. It indicates a shift in corporates and investors becoming more offensive and optimistic in 2023, following a period of right-sizing positions in the previous year. Despite some volatility and uncertainty in the macro environment, an active and exciting IPO market is anticipated in 2024.

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