Nelson Griggs, president of the Nasdaq, believes the IPO market is poised for a comeback in the latter half of the year. Griggs compares the market to a pendulum swinging between private and public investment, noting that after years of limited public capital raising, a significant pipeline of companies is ready to go public. While private investment access has improved due to recent innovation, Griggs argues that deep, sustained liquidity still requires an IPO.
"I do think we start seeing things really start to pick up more in the back half of the year. But even the first half of the year, we're starting to see some activity already," Nasdaq president Nelson Griggs told CNBC's"
Griggs compared the IPO market to a pendulum: It swings between waves of private and public investment."We have a track record now," Griggs said."If you get three straight years of having limited capital raised in public markets, there's an enormous pipeline."for years in its attempts to go public. Twin Peaks, the sports bar that started trading Thursday, is a spinoff of Fat Brands intended to help pay off debt.
"There is a massive convergence of public and private, because even in the private space, you can now have access to more liquidity," he said."But if you want deep, sustained liquidity, you need to go public." If you use any of these 12 phrases, you probably sound 'emotionally immature' to people: Psychology experts
According to Griggs, that innovation does not mean that the private investment landscape has changed forever. He pointed to shifts in the markets as signs that the incentive to go public is returning."Yields start doing better, valuation discounts kind of compress a bit, then the public markets get healthy again."Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
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