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A long-awaited wave of convertible bonds made landfall last week, with Global Payments Inc. and Lyft Inc. among the companies tapping investors for relief from the so-called maturity wall at relatively attractive prices.
A rally across equity markets lifted Birkenstock Holding Plc and other newly public firms, but Wall Street still isn’t welcoming initial public offerings with open arms.
Birkenstock's shares has crossed its IPO price of $46 just days after matching it.
The trigger is the rebalancing of the Russell 2000 Index, which focuses on small-cap stocks.
In the world of equity capital markets, where the largest exchanges of shares tend to occur, it’s become the standard way of doing business during periods of uncertainty.