Companies have hit the brakes on going public this year, ending a lucrative stretch for law firms handling those deals and halting a talent war for attorneys with IPO expertise.
Money raised by US initial public offerings in the first half of the year fell to $14.6 billion, down more than 90% from the $167 billion during the same time last year, data compiled by Bloomberg show. The latest six-month total is the lowest since 2016.
The downturn is the culmination of the largest swing in recent memory for a segment of the legal business that’s prone to boom-and-bust cycles. ...
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