Fed rate cuts drive surge in corporate IPO applications

According to Kingshin data, the Federal Reserve cut rate to clear obstacles for private companies planning an initial public offering in the United States. Industry observers expect companies from technology to service industries to submit IPO applications or launch roadshow promotion in the next few days to weeks. West Riggs, head of equity capital markets at U.S. Trust and Securities, said many companies are waiting for rate cuts to ensure the smooth progress of the IPO, and the October IPO schedule is expected to be very intensive.