US IPO market: Normality? What normality?

There are welcome signs of a recovery of the US IPO market. But an underlying trend is the continuing decline in the number of market debuts by small-cap and technology companies. Is the entrepreneurial motor of the US seizing up? Helen Avery reports.

NOVEMBER WAS A record month for the US IPO market, indicating a return to normality. The question is, what is normality? The number of late-stage technology companies or small-cap companies going public has dramatically decreased in the US. They are turning elsewhere for financing, but what will be the price for the US economy?

The good news is that the US IPO market is back. After a slow start in 2010 in terms of deal size, by November 19 about $18.5

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