FACTBOX-Companies rethink IPOs in 2026 as market volatility tests valuations

Feb 20 (Reuters) - Several companies have downsized, postponed or pulled their U.S. initial public offerings in 2026, as market volatility, valuation scrutiny and weak peer performance weighed on the new listings pipeline.

Goldman Sachs analysts said earlier this month that they expect the number of IPOs to double to 120 this year, but warned that a selloff in software stocks has underscored valuation risks.

In recent weeks, companies including Wall Street broker Clear Street, Brazilian fintech Agibank AGBK.N and Blackstone-backed Liftoff Mobile have trimmed deal sizes, withdrawn or pushed back their planned listings, as they wait for volatility to subside amid heightened investor scrutiny of aggressive pricing and lofty valuations.

Here is an overview of some of the issuers who downsized or postponed their offerings in 2026:

CLEAR STREET

Clear Street pulled its U.S. IPO a week after delaying it, becoming the second company this month to scrap its listing amid market volatility.

Earlier this month, the company had postponed the offering, hours after slashing its fundraising target by about 65%.

Clear Street cited "current market conditions" for its decision not to proceed with the offering.

AGIBANK

Brazilian fintech Agibank raised $240 million in its downsized U.S. IPO after sharply reducing both the proposed deal size and the price range.

The Sao Paulo-based company sold 20 million shares at $12 apiece. It had earlier offered roughly 43.6 million shares between $15 and $18 apiece.

The stock, which debuted on Wednesday, has plunged nearly 15% from the offer price as of Thursday's close.

LIFTOFF MOBILE

Blackstone-backed mobile app marketing provider Liftoff Mobile said earlier this week it has confidentially filed for an initial public offering, after previously withdrawing its U.S. listing plans.