About 2,850 businesses and special purpose acquisition companies have raised over $600 billion through initial public offerings (IPOs) so far this year, surpassing the previous record hit in 2007, Bloomberg reported. Tesla’s rival Rivian Automotive’s IPO, which raised $11.9 billion, became the world’s largest public issue of 2021, while China Telecom’s $8.4 billion IPO topped in Asia.
