The final quarter of 2023 saw 40 new initial public offerings (IPOs), raising a total of $4.2 billion. This is a slight decline in total IPOs from Q3 but a much larger drop in total proceeds, which decreased by 54% in Q4. However, compared to Q4 2022, IPOs doubled while the total amount raised increased by 127%. Overall, 2023 has seen an average of 41 IPOs and $5.98 billion raised per quarter.

In this article, Audit Analytics further examines the decline in total IPOs in the final quarter of 2023.