More US companies seeking fresh capital are turning to private investments or looking for potential buyers as volatile stock markets stand in the way of going public.
Falling valuations and unpredictable market swings have led to a sharp drop in listings activity that experts think will take several months to bounce back, but private fundraisings are continuing at close to a record pace.
The benchmark S&P 500 stock index has fallen 5 per cent since the start of the year, with the sort of high-growth companies that dominate initial public offerings hit particularly hard. Stocks from almost all the largest IPOs of 2021 have fallen dramatically from their early highs, with several including Rivian and Bumble tumbling more than 50 per cent.
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