Companies raised more money through stock market listings in 2020 than in any year besides 2007, as a rebound in equities valuations lured in businesses and blank-cheque acquisition vehicles rushed to list in the US.
Businesses raised almost $300bn through flotations globally in 2020, including a record $159bn in the US, according to data provider Refinitiv. The boom included the public debuts of high-flying tech businesses such as DoorDash and Airbnb, as well as listings for groups that seek to buy others and fast-track them on to public markets.
The listings have provided financial firepower for companies in a year when the coronavirus pandemic hit hard but left vastly differing marks on financial markets from Hong Kong to London to New York.