After two years of limited IPO activity, we are cautiously optimistic about 2024.
- The strong equity market performance in 2023 (S&P 500 +[23]%, Nasdaq [+42%], and Euro Stoxx 50 +[20%]), combined with reduced volatility has companies and financial sponsors reevaluating their IPO plans and timing.
- We have recently seen an acceleration in private companies starting, or in some cases, re-starting their IPO processes.
- With US elections later in 2024, we expect Q2 and Q3 to be the most active windows for IPO execution.
- While the increase in IPO activity will be gradual, we recommend that anyone considering a 2024 IPO should engage in timing discussions now.