In the aftermath of Facebook Inc.'s botched trading debut, the IPO market has gone three weeks without an offering, the longest drought in five months.
It is the slowest stretch in initial public offerings since a four-week span at the end of 2011 and the beginning of this year, according to data from Ipreo.
Investors and bankers have been bracing for diminished deal activity in the summer months, largely due to turbulent market conditions. The summer is also typically a slower time of year for companies to go public.
But Facebook's troubled offering has added insult to injury. The stock is down 29 percent from its $38 IPO price on May 18.
No US company has gone public since Facebook priced, and there aren't any companies scheduled to go public in the coming week.
With investors worried about Europe's debt crisis and the US economy, few expect the IPO market in the US to rebound anytime soon.
There have been no marketing "roadshows" for IPOs in recent weeks, so the earliest a deal could be priced would likely be in the second half of June.
And that is only if a roadshow were launched this week, said Scott Cutler, head of listings in the Americas for NYSE Euronext.
In addition to the US drought, the global IPO market has slowed to a crawl.
Proceeds from seven global IPOs last week totaled $547.8 million, the slowest week since January, according to Thomson Reuters.
Year-to-date proceeds from global IPOs have totaled $53.2 billion, which is down 44 percent from a year ago at this time.
Tuesday, May 21 2013 6:06 AM EDT2013-05-21 10:06:47 GMT
Looking for some waterfront property in tony Greenwich? A 50-acre compound known as Copper Beach Farm has hit the market with an asking price of $190 million.
Looking for some waterfront property in tony Greenwich? A 50-acre compound known as Copper Beach Farm has hit the market with an asking price of $190 million.
Monday, May 20 2013 11:17 AM EDT2013-05-20 15:17:26 GMT
Seamless North America and GrubHub say they're combining to create an online food ordering service covering more than 20,000 restaurants in 500 cities across the U.S.
Seamless North America and GrubHub say they're combining to create an online food ordering service covering more than 20,000 restaurants in 500 cities across the U.S.
Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S.
Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S.
The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief.
The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief.
Sunday, May 19 2013 6:53 PM EDT2013-05-19 22:53:31 GMT
Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million — the highest Powerball jackpot in history.
Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million — the highest Powerball jackpot in history.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 11:36 AM EDT2013-05-17 15:36:32 GMT
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
Friday, May 17 2013 11:04 AM EDT2013-05-17 15:04:49 GMT
(AP Photo/Charles Dharapak)
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups.
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups seeking tax-exempt status.
Tuesday, May 21 2013 7:33 AM EDT2013-05-21 11:33:20 GMT
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
Tuesday, May 21 2013 7:23 AM EDT2013-05-21 11:23:53 GMT
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
Tuesday, May 21 2013 6:51 AM EDT2013-05-21 10:51:26 GMT
The Metropolitan Opera says it's decided to disband its resident ballet company.
The Metropolitan Opera says it's decided to disband its resident ballet company. The American Guild of Musical Artists said the eight remaining dancers of the Metropolitan Opera Ballet have accepted buyout packages.
Tuesday, May 21 2013 6:06 AM EDT2013-05-21 10:06:47 GMT
Looking for some waterfront property in tony Greenwich? A 50-acre compound known as Copper Beach Farm has hit the market with an asking price of $190 million.
Looking for some waterfront property in tony Greenwich? A 50-acre compound known as Copper Beach Farm has hit the market with an asking price of $190 million.
Monday, May 20 2013 10:42 PM EDT2013-05-21 02:42:18 GMT
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Monday, May 20 2013 10:28 PM EDT2013-05-21 02:28:23 GMT
After Assemblyman Vito Lopez resigned over claims of serial sexual harassment of female staffers, attention turned to whether powerful Assembly Speaker Sheldon Silver should continue his leadership.
After Assemblyman Vito Lopez resigned over claims of serial sexual harassment of female staffers, attention turned to whether powerful Assembly Speaker Sheldon Silver should continue his leadership.
