This turbulent environment triggered a chill in dealmaking on the heels of a record year for mergers and acquisitions and initial public offerings.
Data from Refinitiv published Friday shows that the number of global M&A deals plummeted 19% in the first quarter compared to 2021, falling from about 14,700 to nearly 12,000.
IPOs also dried up, even though there’s a long list of companies that have expressed interest in going public.
The global IPO market registered just 321 deals that raised $54.4 billion in the first quarter, according to consultancy EY. The amount of money raised dropped 51% year-over-year. In the Americas, proceeds fell 95% to just $2.4 billion.
The year had started off strong. January produced the strongest opening month for global IPOs in 21 years by proceeds, EY said. In early February, Chinese video app Kuaishou raised $5.3 billion via its Hong Kong debut.
