This edition of the Bermuda Public Companies Update summarises
significant transactions involving Bermuda companies listed on the
New York Stock Exchange and Nasdaq in the second half of 2024.
Global Market Update
In the second half of 2024 global capital markets witnessed a
gradual recovery, with IPO activity slowly rebounding from the
restrained levels of early in the year. Despite this progress, deal
volumes remain well below historical norms, reflecting ongoing
macroeconomic uncertainties and political pressures.
Global IPO activity declined by 14% in the third quarter of
2024, with proceeds falling 35% to US$24.9 billion from 310 IPOs.
While this performance outpaced the first two quarters of the year,
volatility peaked in August with market uncertainty levels reaching
an all-time high since March 2020.