Companies may be going public again, but they're still cautious.
On Monday, Birkenstock touted three anchor investors, including Norwegian wealth fund Norges Bank Investment Management, which have offered to buy 40% of its IPO.
Instacart's anchor investors bought 61%, while Arm had a slew of tech companies sign up as early investors.So far this year, IPOs floats have been particularly small. Instacart and Klaviyo were just under 8%, Arm a little over 9%, and Cava was a little above 12%, to name a few. That's much smaller than the median 16.7% and average of 18.2% in 2021 , and 22% for both in 2020, according to data compiled by University of Florida professor Jay Ritter.
Notably, median floats were historically larger before 2021, mostly staying above 20% since 1980."Oddity is an example of a company that utilized a short float, cornerstone investors and a long marketing period prior to the roadshow while waiting for a window that they could get out," an industry banker tells Axios Pro colleague Richard Collings.
"They had been speaking to investors for a long time and then performed against that, which was helpful to them when they did come to market," he adds."I think we will see the use of anchors as the market opens and I would expect that to decline as the IPO market grows more robust," Lise Buyer, co-founder of IPO adviser Class V Group, tells Axios via email.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Lawrence mayoral candidates address city's top issues | Decision 2023 in Marion CountyTonight, our “Decision 2023 in Marion County” series takes you to the city of Lawrence and looks at the challenges facing the growing community.
Leer más »
2023 MTV Video Music Awards: Biggest Surprises & Best Performances!Here's a look at all the highlights from Tuesday's big awards show.
Leer más »
Watch Taylor Swift Dance and Cheer On Selena Gomez After 2023 VMAs WinEarlier in the night, Selena Gomez stood up to support Taylor Swift 's Best Pop win.
Leer más »
The Power of Latin Catalog | Latin Music Week 2023Presented by HarbourView How Latin catalogs are valued, marketed, bought, and sold in a global economy.
Leer más »
Cherry Red Is the Hottest Color for Fall 2023 — How to Get the LookWe're seeing red this season with classic autumnal silhouettes in vibrant shades of cherry.
Leer más »
MLB playoffs 2023: What to know about the Dodgers' upcoming NLDS games and opponentHere's what to know about the Dodgers' latest playoff run as the team looks to win the franchise's eighth World Series title.
Leer más »