Bloomberg: Even with falling fairness costs and delayed preliminary public choices, some firms are nonetheless trying to make their stock-market debuts, Nasdaq Inc. Chief Executive Officer Adena Friedman stated.
After greater than 750 IPOs final 12 months, Nasdaq’s alternate had simply 70 such choices within the first quarter, with carefully held firms “staying on the sidelines” this quarter, Friedman stated in a Bloomberg Television interview Wednesday. There’s a pipeline of greater than 250 firms with S-1 filings trying to go public on the Nasdaq in coming months and quarters, she stated.
“There are some companies that hope to tap the public markets this quarter,” although volatility is prone to delay these IPOs, Friedman stated. “The companies that have been really eager to tap the public markets are those that are really leaning into the digitization of the economy, those that are leaning into providing new technologies to help get to a net-zero environment — those type of innovators that we see coming to Nasdaq every year.”
Nasdaq, the second-largest inventory alternate within the U.S., payments itself as a know-how firm. Beyond operating the alternate, the New York-based agency presents information, analytics, software program and different surveillance providers to purchasers together with publicly traded and carefully held firms and traders.
Amid a booming inventory market and pandemic-driven volatility that elevated buying and selling volumes, Nasdaq’s income grew to $3.42 billion final 12 months, up 18% from 2020. But with hovering inflation, rising rates of interest and a fraught geopolitical surroundings, investor considerations are rising, and the tech-focused Nasdaq Composite Index is down greater than 20% this 12 months, in contrast with a 13% decline for the S&P 500.
Friedman, who has been CEO of Nasdaq since 2017, has targeted on diversifying the corporate’s income stream to make it much less reliant available on the market for development. The agency has invested in know-how, information and different choices past the alternate the place shares in public firms commerce.
The firm has leveraged its know-how to assist firms in different industries, together with crypto. Nasdaq is involved in partnerships with different corporations within the subject, however is taking a cautious method due to questions round regulation.
“As we evaluate the regulatory environment and how many institutions want to get into the space, we are actively evaluating how we can play a role,” Friedman stated in a further interview with Bloomberg. “More and more institutional investment is coming into the general digital-asset space, including crypto, but the level of inefficiency is incredible. That is where we will play a role.”
Source: www.financialexpress.com”