Businesses raised almost $300 billion through initial public offerings globally in 2020, including a record $159 billion in the U.S., according to data provider Refinitiv. The listings have provided financial firepower for companies in a year when the COVID-19 pandemic hit hard but left vastly differing marks on financial markets from Hong Kong to London to New York. Jeffrey Bunzel, head of equity capital markets at Deutsche Bank, said investors had come to believe that coronavirus would have long-lasting effects, particularly on technology companies. Ant’s absence handed Beijing-Shanghai High Speed Railway the year’s crown: the $4.4 billion it raised in its IPO was the largest of the year, topping the $3.9 billion raised in Snowflake’s listing and $3.8 billion collected by Airbnb. FT and Financial Times are trademarks of the Financial Times Ltd. Not to be redistributed, copied or modified in any way.

Source: Los Angeles Times December 31, 2020 01:07 UTC