The market for initial public offerings continued its slump in January, confirming forecasts for a 6-year low, according to Renaissance Capital.
No IPOs priced last month, making it the slowest January since 2009, the company said. There were 14 pricings in January 2015 and 17 in January 2014. Last month’s goose egg ended a 51-month streak dating back to September 2011, according to the report.
That continues a trend from last year, when there were 170 deals worth a collective $30 billion, when the market seemed on track for more than 200 1st-time flotations until a stall in August and September brought issuance to a near halt. Healthcare was the only sector to hold up, logging a record 46% of all 2015 IPOs.