Goldman Sachs Sees High Bar for IPOs Easing as Market Broadens

The spreading of the rally across equity markets into more than just a handful of stocks is making room for more initial public offerings, according to Goldman Sachs Group Inc.’s global head of equity capital markets.

“We have been in a pretty unique market,” David Ludwig told Bloomberg News in an interview. The veteran dealmaker pointed to stiff competition for investors’ cash from high, risk-free interest rates, as well as money managers “getting paid to own a small group of mega-cap technology companies which are growing at scale, investing in AI and returning capital.”

“That made the bar to ...