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Editorial Roundup: Michigan
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After US IPO stumbles, companies under pressure to offer bargains
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Companies pursuing U.S. initial public offerings (IPOs) after a string of lackluster stock market debuts are receiving advice from investment bankers to lower their valuation expectations. The IPO market saw a flurry of big listings in the last five weeks, emerging from an arid spell that lasted most of 2022 and 2023 and was driven by stock market volatility amid rising interest rates. There were four major IPOs, and three of them disappointed investors.