Frankfurt The war in Ukraine suddenly dried up the market for new IPOs. In total, only 321 companies ventured onto the floor in the first quarter – 37 percent fewer than in the same period last year.

The issue volume fell even more sharply by 51 percent to 54 billion dollars. The records from 2021 are thus a long way off, while at the same time an important source of fee income for investment banks is almost non-existent.

In January of this year the positive momentum had lasted, but then the enthusiasm for initial public offerings (IPOs) had evaporated. In view of the acute turmoil, the market for IPOs will be largely closed until the summer, says an expert.