Enterprising Investor
Practical analysis for investment professionals

JOBS Act


What Ails the IPO Market?

Global IPO proceeds declined by 27.8% in 2012. And while last year’s sharp decline was largely attributed to weakness in China and continued fallout from the sovereign debt crisis, it also appears to be part of a longer term trend. Are we witnessing a structural market change, a secular decline, or simply a cyclical downturn that will reverse?