The second half of 2015 saw a slowdown in initial public offerings, according to Proskauer Rose’s “2016 IPO Study,” released on Tuesday.

Proskauer found that only 51 significant IPOs priced in the second half of last year, “the lowest deal count during any year’s second half since 2012.” The report blamed it on market volatility caused by interest rate speculation, geopolitical risks, falling oil prices and other factors.

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