Global IPOs fell 12% in the first half of 2023 despite resilient stock markets.

EY reported 483 IPOs worldwide in the first six months, down from last year, as geopolitical tensions, particularly the ongoing Iran conflict, deterred companies from going public.

While China saw a 39% increase in IPOs, the U.S. experienced a 33% drop. However, the U.S. led in total emissions volume, boosted by SpaceX’s record $86 billion IPO.