US Secondary Stock Sales Are Staging a Comeback With Strong May

A burst of stock sales from Corporate America and its biggest investors has reawakened equity capital markets activity across Wall Street, setting off the busiest period for secondary offeringsin 18 months.

US-listed companies raised more than $15 billion in equity sales in May, the biggest windfall since November 2021, according to data compiled by Bloomberg. The deals are providing much-needed funding for companies and are enabling long-time holders to sell shares to seek other investments after a brutal 2022.

All told, roughly $38 billion has been raised through secondary sales so far this year, a jump after last year’s ...