SEC Issues Fewer IPO Comments As Process Streamlines
Law360, New York (April 20, 2017, 7:43 PM EDT) -- The U.S. Securities and Exchange Commission is issuing fewer but more focused comments on initial public offering submissions, according to new data from Proskauer Rose LLP, continuing a multiyear downward trend that capital markets lawyers say is producing a more streamlined IPO process.
Proskauer Rose, which released on April 12 its study examining various data from 67 IPOs that priced last year raising at least $50 million each, said the average number of first-round comments the SEC issued in 2016 fell to 25. That's down 40 percent from an average of 42 in 2013.
"We've seen somewhat of a dramatic decrease...
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