Goldman Sachs is among the big banks in a position to benefit from what could be the end of an IPO drought.
) are also involved as underwriters in one or more of these deals, along with Barclays and Mizuho Financial Group.The lineup of IPOs is happening just in time for Wall Street, which is suffering from an extended dealmaking slump that followed a boom in 2021.
"We've had a moment of clarity, where we realize that trees don't grow to the sky," Donna Hitscherich, a senior lecturer at Columbia Business School and former investment banker. "There is going to be a new normal, but what is the normal?"Thus far the freeze has failed to thaw in 2023, which has been the worst for IPOs year to date since 2016 as measured by deal volume, according to data provider Dealogic.
The drop at Goldman was worse than expected and contributed to a 58% pullback in profits across the firm.Solomon made the argument in July that the worst was over, noting moreThere was also plenty of caution from some CEOs who warned that it was too early to declare a turnaround. It remains that way inside some big banks.
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