SK Hynix IPO Boosts US IPO Quarter
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AI-heavy blockbusters kept the momentum going. Bloomberg's data show offerings on US exchanges brought in $36.1 billion over the three months to Sept. 30, after stripping out blank-check firms and similar structures, with SK Hynix 's $26.5 billion ADR sale doing the heavy lifting. That pace ranked as the second most active quarter since 2021, behind the June stretch when SpaceX and others helped push totals to $117 billion. It was not just one outlier. Four listings topped the $1 billion mark in Q3: SK Hynix, Bending Spoons SpA, Csquare Inc. and Jersey Mike's Subs Inc. Among that group, Csquare and Jersey Mike's currently sit at least 25% under their IPO prices. Backing the biggest issuers has worked this year. Since listing, SpaceX is up 12% and SK Hynix is ahead 24%, lifting the weighted average return for 2024's US IPO crop to 8.8%, per Bloomberg's calculations. Take out transactions that raised more than $10 billion and the picture flips, with US IPOs showing a 4% weighted average decline. The split reflects how investors are sorting the likely AI beneficiaries from the rest, while higher rates continue to pinch growth names. When big listings dominate the headlines, remember steady contributions beat noise; download the free Always Be Buying E-Book today. Not everyone pressed ahead. In September, Holtec Nuclear Corp., Bamboo Insurance Services Inc. and Oura Inc. each...
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