Richard Truesdell discusses the IPO outlook with American Lawyer
Davis Polk partner and Capital Markets practice global chair Richard Truesdell was quoted in the American Lawyer on the outlook for the IPO market, in light of two high-profile IPOs pricing in the last week.
Richard, who advised the underwriters on Arm’s nearly $5 billion IPO – the largest U.S. IPO since 2021 – explained, “While Arm was clearly unique, its success is clearly a significant step in bringing IPO investors back into the market. As a result, a number of our IPOs in the pipeline have either restarted or moved up their timeline. That being said, we don’t expect to see a broad recovery in the IPO market before Q1 2024,” he said.
The AmLaw article also highlighted Davis Polk’s role on multiple M&A, finance and capital markets transactions from the past week, including Comcast’s sale of spectrum to T-mobile, Finastra Group’s $5.32B refinancing – the largest-ever U.S. private credit deal, and debt offerings by Intuit, UBS, ING, Nestle, CaixaBank, Minerva and Advanced Energy Industries.
“Deal Watch: With IPOs ‘In The Pipeline,’ Big Law Now Awaits Comeback,” American Lawyer (September 18, 2023) (subscription required)