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Sunday, July 3, 2022

Premarket stocks: No one wanted to cut deals after Russia invaded Ukraine

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.


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