After a Covid-induced hiatus, there have been several IPO announcements this year, with companies such as TGI Fridays, Tortilla, Hawksmoor and Giggling Squid considering their options around going public. Meanwhile several more are believed to be weighing up a listing. How much of this is an opportunistic post-Covid trend? Does it represent a structural shift away from the private equity model? And what are the risks and rewards? Dominic Allport, insight editor, reports.