Global IPO Market Eyes Record First Quarter Even as SPACs Falter Bloomberg 3/13/2021 Swetha Gopinath, Myriam Balezou and Julia Fioretti (Bloomberg) -- The global market for initial public offerings is headed for its biggest-ever first quarter, even as skepticism grows about the U.S.-led boom in blank-check listings that fueled the frenzy. A record $162.4 billion has been raised by more than 600 issuers in 2021, the most ever at this point in the year, data compiled by Bloomberg show, with special-purpose acquisition companies accounting for half of the proceeds. In comparison, just $37 billion was raised in the first three months of 2020. Unprecedented monetary and fiscal stimulus, ultra-low interest rates and -- until recently at least -- global markets at record levels helped fuel both traditional and SPAC listings, with issuers rushing to sell while investor demand is hot and valuations high. Stock prices have been underpinned by optimism that vaccines will tame the coronavirus pandemic, helping the the economy to recover.