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)