This is what we were referring to introducing August 6's "Blackstone prepares portfolio companies for IPOs":
One of the reasons markets trend higher is a lack of new shares coming on to the market.
Over the last few months the IPO window has been opening and the offerings absorb buying power that would otherwise go into issues already trading.
See also: supply/demand.
The Wall Street marketeers are nothing if not opportunistic.
From Yahoo Finance, August 15:
The end of summer usually marks one of the slowest periods of the year for investment bankers.
This year, however, markets aren't taking a vacation.
Halfway through August, the IPO market has already roughly doubled the amount of activity typically seen during the month, with 12 new issues worth at least $50 million raising some $2.9 billion in capital.
August typically saw nine IPOs raising an average of $1.5 billion collectively over the past decade, according to data from IPO research firm Renaissance Capital.
"There's clear demand for new issues, and these companies are striking while the iron is hot," Renaissance Capital research director Avery Marquez said.
Marquez noted that given how the IPO market has been largely frozen in the past years, the surge in activity isn't necessarily surprising. Still, he said, "these companies would likely not be going public right now if there wasn't such a strong appetite for IPOs."
This week, crypto exchange operator Bullish (BLSH) enjoyed the latest high-profile market debut, raising over $1 billion in its IPO and seeing its stock open at $90 per share, nearly triple the $37 where the company priced its offering.
At the close of its first day of trading, Bullish had a market cap of $10 billion, almost double the company's IPO valuation.
The lack of a summer slowdown has been good for Wall Street banks, especially after predictions for a breakout year were shunted after tariff uncertainty defined much of the first half of the year.
At its current pace, August remains on track to see IPO activity match a strong July, which saw $5.2 billion raised on 29 IPOs, including one of the year's most expected offerings in design software maker Figma (FIG)....
....MUCH MORE
