The current IPO craze is starting to look like tech bubble of late 1990s

The FTSE Renaissance Global IPO Index, which tracks the performance of offerings worldwide, is up 82 per cent this year, compared with a 12 per cent gain for MSCI's all-country equity index

Initial public offerings have been doing extremely well lately, bringing to mind the excesses of the tech bubble in the late 1990s.
 
Shares in Chinese toymaker Pop Mart International Ltd. jumped as much as 112 per cent in their debut Friday, after home-rental platform Airbnb closed 113 per cent above its IPO price in New York. JD Health International  surged 56 per cent in its debut Tuesday while DoorDash soared 86 per cent inon Wednesday.
 
Pricing IPOs
 
The FTSE Renaissance Global IPO Index, which tracks the performance of offerings worldwide, is up 82 per cent this year,