KBW says the IPO market held up well in June, but then fell off a cliff; August was the worst month since 1992, according to a Financial News Online article. On an annual basis, we're on track for the weakest market since 2003. (We should note the merger activity has fallen as well.) KBW reports that 292 IPOs have been pulled or postponed globally, which doesn't seem all that bad really, considering the state of the economy and the credit crunch. A lot of people will blame Sarbanes-Oxley, but that message is getting a bit tired. Right now, the liquidity and growth prospects just aren't there for a lot of companies. Long term, this may be healthy, as it sets IPO expectations at a more reasonable level.

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- here's the article

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