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Initial public offerings (IPOs) have gotten off to a rough start of the year. Globally, US$26.7 billion worth of IPOs have priced, marking a 60 percent drop from the same period a year earlier. Now, pulled deals are piling up under pressure from roiling markets. The prospect of interest rate hikes combined with slowing economic growth and geopolitical tensions have set global equities on course for their worst month since the pandemic started. Frothier technology and growth shares, including recent IPOs, have been particularly vulnerable to the selloff as investors flock to cheaper stocks. “It’s a really tough environment for new listings right

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