Global initial public offerings (IPOs) have smashed their previous record this year, propelled by a blank-check boom and companies cashing in on high valuations. And the economic recovery from the pandemic along with stimulus measures helped boost corporate earnings.Still, it hasn't all been smooth sailing. China's crackdown on technology companies over the summer sent shockwaves through global markets, halting the record rush of Chinese listings in the US and casting a shadow over Hong Kong's IPO market. TikTok rival Kuaishou Technology is one of 2021's roughest IPOs, falling 16% below its listing price after shares more than tripled initially. The IPO crops of 2021 in the US and Europe are now on average underperforming regional equity benchmarks.Some IPO stocks disappointed right off the bat.

Source: Economic Times November 20, 2021 21:38 UTC