Davis Polk partner Marcel Fausten was quoted in Bloomberg Law discussing the outlook of the 2023 IPO market. “It will probably take some of the bigger named companies that have stronger financials and profitability to return to the market as the first movers, and hopefully that will open up the market and others will follow,” said Marcel.

Marcel also noted that private companies are still adjusting to significant declines in public market valuations. “A lot of private companies have valuation expectations still grounded in what people were seeing in ‘21 and have not necessarily readjusted,” he said. “There’s a process of those valuations being brought down to be more in-line to their public peers.”

“IPO Bust Sends Big Law Work Plummeting 95% From Record Year,”  Bloomberg Law (January 17, 2023)

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