Better days may be coming for public companies and the rest of corporate America with Donald Trump’s soon-to-begin presidency, according to the head of the New York Stock Exchange. - From Bloomberg.com
“I’ve spent time with the administration and there seems to be a sense that we need to help corporate America,” including improving the tax code, said Tom Farley, president of NYSE Group.
“There’s a sense that working together, working thoughtfully we can make it more advantageous to be a public company.” Smaller companies don’t have the staff or resources to handle the regulatory requirements of being publicly traded, Farley said, speaking in a Bloomberg TV interview Tuesday at the annual World Economic Forum in Davos, Switzerland.
While 2016 was generally terrible for initial public offerings -- “by some metrics it was the worst year in 20 years,” Farley said -- things now look better, according to the NYSE executive.
Seven IPOs at the exchange will raise billions of dollars in the next few weeks, he said, calling it a “robust pipeline.”