US bankers wary after IPO slump

Sluggish times: A trader works on the floor at the New York Stock Exchange. Rising inflation and interest rate hikes have hurt stock market valuations and are eroding investor appetite for high growth IPO candidates that have driven deals in recent years. — AP

NEW YORK: Initial public offerings (IPOs) are heading for their longest drought since the global financial crisis, and bankers are not expecting a revival anytime soon.

A mix of rising inflation and interest rate hikes aimed at taming it have hurt stock market valuations and eroded investor appetite for the high growth IPO candidates that have driven deals in recent years.