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Analysis: Record IPO binge in 2021 leaves investors hung over

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By Echo Wang and Abhinav Ramnarayan NEW YORK/LONDON (Reuters) – Initial public offerings (IPOs) around the world raised a record $594 billion in 2021, riding the coattails of stock market rallies, yet often disappointing investors with their subsequent stock performance. Companies ranging from technology start-ups to blank-check acquisition firms flooded the market with offerings, capitalizing on investors’ willingness to place speculative bets as low interest rates and the re-opening of economies thanks to COVID-19 vaccines fueled their appetite for risk. “It was a truly euphoric capital mark…

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