Spiked US IPOs hit decade high

EQUITY market turmoil caused 15 US corporate IPOs to be withdrawn in August, the highest number since April 2001, data from Dealogic showed yesterday.

August saw the number of completed floats reach the lowest volume since 2009 as fears over US and European sovereign debts caused a mass sell-off in equities. Just four IPOs got off the ground in August, compared with 14 in July, listings showed.

The withdrawn IPO data covered straightforward corporate IPOs, excluding sectors such as REITs that have seen large market changes.