The initial public offering (IPO) market remained quiet last week, with only Ivanhoe Electric completing its offering. However, Ivanhoe was the first major IPO in the United States since mid-May, as volatility across the broader market has kept many would-be listers from pricing.

Ivanhoe Electric Inc. (IE  ) priced its shares at the lower end of its range to raise $169 million in its debut. The exploration-stage company plans to dual list on the New York Stock Exchange and the Toronto Stock Exchange. Focused on American copper mining, the company currently does not generate any revenues from mining projects, but garners some revenues from its oil and gas data firm and battery development. The stock traded down 8% on its first day and finished the week 23% lower.

The week ahead plans to be just as quiet, with only one micro-cap slated potentially list.

Nano Labs Ltd (NA  ) plans to raise over $46 million from 3.5 million shares priced between $9.50 to $11 each. The China-based chipmaker designs ASIC chips for a variety of uses, including cryptocurrency mining and for metaverse-optimized applications.

The IPO market has remained notably quiet throughout most of 2022. Just 21 IPOs raised $2.1 billion to mark the slowest second quarter for the U.S. market since 2009, according to Renaissance Capital. Moreover, most of the listings throughout the year have been tiny, with larger IPOs--those valued at over $100 million--being scarce as Wall Street grapples with growing recession fears fuelled by multi-decades high inflation.