IPO Hole Is Partly Plugged by $24 Billion Burst in Share Sales

All is not lost for equity capital market bankers.

While initial public offerings have largely vanished, share sales have been surging. Since the start of November there have been $24 billion in additional stock sales globally, on track for the biggest monthly haul since August when almost $25 billion was raised, data compiled by Bloomberg show.

The uptick in activity coincided with a stock market rally after data showing a cooling in US inflation fueled expectations that the Federal Reserve would slow down its tightening efforts. Shares were also helped by signs that China might be adopting a more relaxed ...