IPOs get that sinking feeling
The worldwide initial public offering (IPO) market has reached a record of dubious distinction, the highest number of deals shelved, thanks to an environment that is becoming increasingly hostile to new stocks, MarketWatch reported. So far this year, 215 IPOs have been withdrawn or postponed globally, the largest number recorded to date by data tracker Dealogic. The offerings sought to raise a combined $44.1 billion. The previous record at this point in the year was set in 2008, when 214 deals worth $38.2 billion were scrapped, according to Dealogic, which also said that 63 percent of U.S.-based companies that made their domestic stock-market debuts this year are trading below their offer price.