Article: US IPO Activity on Hold as Crisis in the Financial Sector Continues

To: BUSINESS EDITORS

Contact: Jenna Focarino, Brainerd Communicators, Inc., +1-212- 986-6667, focarino@braincomm.com, or Nancy Wu, PricewaterhouseCoopers Transaction Services, +1-646-471-2471, nancy.n.wu@us.pwc.com

Financial Sponsored-Backed IPOs and SPACs Decrease to a Trickle While Non-US Issuers Stay Away

NEW YORK, Oct. 29 /PRNewswire/ -- The number of initial public offerings (IPOs) in the United States (US) has declined for three straight quarters as volatility in the US economy continues unabated. For the first nine months of 2008, there were 54 IPOs that raised $31.2 billion, a significant drop from the 195 offerings that generated $44.7 billion for the same period in 2007. When the ...

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