Japan’s SBI Sumishin Net Bank is the latest in a string of global IPOs to postpone its listing, as the Russia-Ukraine crisis causes a surge in market volatility. Japan’s leading digital bank was set to raise $1.2 billion and list on the Tokyo Stock Exchange on March 24th.
While the global IPO market was already weak due to a recent sell-off in growth stocks, almost all new listings have been brought to a halt. At least three companies have been officially pulled their IPOs over the past few weeks, while a number of others have likely delayed launching their deals.
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