Companies grew more confident about initial public offerings in 2023, raising recovery hopes

The IPO market limped ahead in 2023 and analysts expect a steadier recovery ahead. Overall, 108 initial public offerings raised proceeds of about $19.4 billion in 2023, according to Renaissance Capital. That’s up from a dismal 71 IPOs for proceeds of $7.7 billion in 2022, when public share offerings declined sharply from a post-pandemic surge. Growth for the IPO market is expected along with an economy notching slower but solid, growth, Corporate profits are expected to rise after shaking off an earnings recession.