Factbox-U.S. IPO activity plunges as Ukraine war triggers volatility

(Reuters) – Market volatility triggered by Russia’s invasion of Ukraine and soaring global interest rates has forced investors to pull back from backing initial public offerings, resulting in a dramatic decline in stock market listings in the United States.

According to data from Refinitiv, 2022 is on track to be the worst year for U.S. listings since 2009, with IPOs having raised roughly $5 billion in the first seven months this year – a 96% decline from the same period in 2021, according to Refinitiv.

Nevertheless, some companies have braved a frigid IPO market and gone public on U.S. stock exchanges this year.

Following is a list of the 10 largest IPOs since March:

Company Capital Stock Background

raised performance

since

listing

Bausch + $712 mln -16% in New Eyewear co, was taken

Lomb Corp York private by private

equity firm Warburg

-17% in Pincus in 2007, and

Toronto later by Canada-based

Valeant

Pharmaceuticals for

$8.57 bln in 2013.

Excelerate $384 mln -21% Founded by energy

Energy Inc tycoon George

Kaiserhe, the LNG

provider’s IPO was

the first major U.S.

IPO since Russia

invaded Ukraine.

ProFrac $288 mln -1% Provides hydraulic

Holding fracturing services,

Corp a process that breaks

up underground

bedrock to free up

oil or gas reserves.

Hillevax $200 mln -32% Boston,

Inc Massachusetts-based

co is currently

developing a vaccine

for immunization

against

gastroenteritis.

Ivanhoe $169 mln -24% Mining tycoon Robert

Electric Friedland-led company

Inc focuses on metals for

electrification such

as copper, gold,

silver, nickel.

PepGen Inc $108 mln -28% Clinical-stage

biotech is developing

treatments for

neurological

diseases.

AN2 $79 mln -40% Menlo Park-based co

Therapeutic provides therapies

s Inc for treatment of

chronic diseases.

Hanover ~$27 mln -7% Offers financial

Bancorp Inc services, loans,

mortgages and card

services.

Intelligent $25 mln -84% Hong Kong-based

Living company designs lock

Application sets and smart

Group Inc security systems.

Nano Labs $20 mln -7% China-based chipmaker

Ltd designs products that

can be used for

cryptocurrency

mining.

Source: Dealogic

(Reporting by Angelique Chen in New York and Niket Nishant in Bengaluru; Editing by Anirban Sen and Lincoln Feast)

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