This Month, IPOs Have Raised 9 Times Less So Far Than In May

Generally, June is one of the busiest months for IPOs. But, this year, the trend reversed thanks to a volatile stock market and lackluster investor appetite, according to a report on the Wall Street Journal.

The Journal, citing Dealogic, said thus far into June there have been only five IPOs that have raised a combined $392 million. That compares to a decent May, which saw 17 deals raise more than $3.6 billion, and marked May as the best month for IPOs since October, which saw 16 deals raise more than $5.7 billion, Dealogic data show.

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In fact, 2016 remains on pace to be the slowest year for IPOs since the financial crisis. Thus far into the year, there have been 39 new offerings, which have raised $7.7 billion, half the amount raised by new listings in the same span in 2015, according to Dealogic.

The biggest IPO set to go this week was PSAV Inc PSAV in a deal led by Goldman Sachs Group Inc. and Morgan Stanley. But, the company postponed its IPO citing unfavorable market conditions. According to regulatory filing, the company had planned to raise as much as $185 million versus its initial estimate of $274 million in its offering.