Monday kicked off a slow week for initial public offerings in the U.S., with only four new listings slated to hit the market. Nonetheless, this month will be the most active April for new filings in more than a decade, according to data analyzed by Renaissance Capital.
As previously noted by The Am Law Daily, the market for U.S. IPOs has been hot in recent weeks, with a trio of Am Law 100 firms grabbing roles earlier this month on the nearly $2.4 billion IPO by Ally Financial, the largest float in the country this year. Ally’s IPO yielded $4.6 million in legal fees for lawyers from Cahill Gordon & Reindel, Davis Polk & Wardwell and Sullivan & Cromwell advising the former General Motors finance arm and its underwriters on the listing.
