The Globe and Mail reports in its Tuesday edition that coming out of the pandemic, the Street unleashed an unprecedented wave of Canadian initial public offerings. The Globe's Andrew Willis write that most of these stocks now trade for fractions of their IPO prices. Despite IPOs drying up, the lawyers and bankers who profited from them are now collecting another round of fees to take many of these companies private, for far less than they fetched when they debuted on public markets. The poor performance of the most recent vintages of IPOs is a much larger issue for companies such as Telus, which were counting on public market offerings. Telus launched what it expected to be the first in a series of IPOs in the winter of 2021 by spinning out its customer experience division, Telus International, at $25 (U.S.) a share. The $1.4-billion offering marked the Toronto Stock Exchange's largest technology debut. Telus chief executive officer Darren Entwistle envisioned following up this landmark deal with offerings from the company's health care and agriculture divisions. Telus International has been a massive disappointment for investors who bought the IPO. The stock price has dropped 70 per cent since it first began trading.