Weil Leads IPO Work That Hits Five-Year Low on War, Volatility

Initial public offering proceeds fell to at least five-year lows in the first quarter as the Ukraine invasion and a volatile stock market lessened appetites for share sales.

Global IPOs raised less than $30 billion in the first quarter, down nearly 90% from a record of more than $260 billion in the same period of 2021, according to data compiled by Bloomberg.

The slowdown offered a welcome breather for firms that worried about burnout and attrition from the torrid pace of IPOs last year. It also marks an abrupt turnaround for transactions that drove Big Law operations to record profits. ...