The US market for initial public offerings has exploded back to life with the busiest week for Wall Street listings since a boom four years ago.
Buy now, pay later group Klarna, the Winklevoss twins’ crypto exchange Gemini and Blackstone-backed engineering group Legence were among seven large-cap companies that went public in the US this week, the highest tally since late 2021, according to IPO research group Renaissance Capital.
The deals raised more than $4bn and mark the latest in a series of recent offerings that bankers hope will lay the groundwork for a long-awaited US IPO recovery after a barren spell prolonged by the market volatility unleashed by President Donald Trump’s tariffs in early April.