This is a return to conventional premiums that historically are part of the IPO market, ... We are back to more normal premiums.
I don't think the market will burst back. It will take its time in the first quarter. This won't be a repeat of last year.
We've got a decent tone to the market and a select number of quality deals are getting out. Everyone is being careful about the quality of offerings being scheduled.
Biotech is going to continue to be a good market.
When the IPO market tapers off, the more speculative types of issues tend to take a bigger beating than those more .
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