Richard Truesdell discusses the IPO pipeline with Law360
Davis Polk global chair of Capital Markets Richard Truesdell was quoted in Law360 on the IPO pipeline for the remainder of the year. He noted that market participants are currently encouraged that large deals are getting done again after a long lull in listings and some prospects that were planning to pursue IPOs in early 2024 moved their schedules to the fourth quarter. However, now they are faced with uncertainty over a possible government shutdown. “The shutdown definitely is a big damper,” Richard explained. “This just compounds what’s already not a great time of year for IPOs.”
He also added that those companies, if they are ready to go public now, may wish to price an IPO sooner rather than risk uncertainty if a shutdown happens in mid-November. “It’s definitely a catalyst for people that were on the fence to go ahead,” he said.
“Uncertainty Still Looms For IPOs Despite Shutdown Reprieve,” Law360 (October 2, 2023) (subscription required)