Broker Clear Street Delays US IPO Citing Market Conditions
Wall Street brokerage Clear Street Group Inc., founded on cloud computing technology, has postponed its U.S. initial public offering (IPO) after cutting its IPO target size by nearly two-thirds. A company spokesperson stated that the decision was based on market conditions. On Thursday, Clear Street lowered the offering size to 13 million shares with a price range of $26 to $28 per share; previously, the company planned to offer 23.8 million shares, priced at $40 to $44 each. Documents show that the group had intended to subscribe for up to $200 million worth of the company's IPO shares. Over the past week, the U.S. IPO market has been impacted: fintech company AGI Inc. significantly reduced its listing size before pricing, while ad tech company Liftoff Mobile Inc. announced the postponement of its IPO just hours before pricing.
Editor: Wang Yongsheng
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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