(Bloomberg) — A rocky start to 2016 has left Tom Farley, president of NYSE Group Inc., waiting for companies to warm up to initial public offerings again.
As stocks suffer one of their worst starts to a year on record, no companies have gone public in the U.S., either at Farleys New York Stock Exchange or the companys rival, the Nasdaq Stock Market.
We will have to wait until volatility comes down to see that rekindle, Farley said Friday in a Bloomberg TV interview at the World Economic Forum in Davos, Switzerland. They will, by and large, IPO eventually. The question is when, he added. It is likely a matter of months, not days or weeks.
U.S. equity markets have had a wobbly start to the year, with the Standard & Poors 500 Index dropping 8.6 percent through Thursday. In that environment, even companies that have done a majority of the preparation for an IPO shy away from debuting their shares, Farley said.