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Reuters
5 hrs ago
Comment
Travel operator Cox and Kings (India) Ltd has fixed a price of 330 rupees ($7.07) a share for its initial public offering, a company statement said on Saturday.
Sydney Morning Herald
Nov 27
Comment
Resourcehouse, controlled by Australia's fifth-richest man Clive Palmer, will delay a $US3b Hong Kong initial share sale.
The Straits Times
Nov 27
Comment
THERE was no ignoring the huge CapitaMalls Asia listing this week. After all, it likely pulled in more cash than the total amount raised by the 60 other initial public offerings (IPOs) held since January last year.
The Economic Times
Nov 27
Comment
Access to capital is the biggest worry for most small and medium enterprises in the country. Here is a checklist of the dos and dont's for venturing into an IPO.
The Straits Times
Nov 26
Comment
A LOCAL tile supplier aims to raise $6.5 million in an initial public offering (IPO).
The Economic Times
Nov 26
Comment
Engineering procurement and construction company Vascon Engineers, which also has realty business on Thursday said it has planned to issue 1.08 crore shares through an Initial Public Offer, expected to hit the market by early 2010.
The Economic Times
Nov 26
Comment
Construction firm PNC Intratech expects to raise Rs 175 crore through the company's proposed initial public offer (IPO) and has approached market regulator SEBI for approval of the issue.
EE Times
Nov 26
Comment
Sensata Technologies Holding BV, a vendor of sensors and controls used in the automotive and aerospace industries, has filed for an IPO that would raise $500 million.
MarketWatch
Nov 26
Comment
RedPrairie Holding Inc., the Milwaukee provider of productivity solutions for manufacturing, distribution and retail, registered an initial public offering with the U.S. Securities and Exchange Commission. In a statement late on Wednesday,...
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more ▼WIKI ANALYSIS
WIKI ANALYSIS| This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition. |
An initial public offering, or IPO, is the first sale of a corporation's common shares to investors on a public stock exchange. The main purpose of an IPO is to raise capital for the corporation. While IPOs are effective at raising capital, being listed on a stock exchange comes with heavy regulatory compliance and reporting requirements.
The term IPO only refers to the first public issuance of a company's shares. If a company later sells newly issued shares again to the market, it is called a seasoned equity offering. When a shareholder sells shares, it is called a secondary offering and the shareholder, not the company that originally issued the shares, retains the proceeds of the offering. These terms are often confused and only a company which issues shares can make a primary offering or IPO. Secondary offerings occur on the secondary market, where shareholders (not the issuing company) buy and sell shares from and to each other.
The IPO process starts when the corporation files a registration statement, according to the Securities Act of 1933, with the SEC. The SEC then investigates the registration statement and approves the full disclosure. The underwriter first issues a preliminary prospectus and then an official prospectus before or along with the stock offering. After SEC approval, the price and date of the IPO are decided.
Investing in an IPO is a risky and speculative investment. Only active traders, depending on their investment objectives and risk tolerance, should consider this type of investment.
IPO Calendar
IPOs in 2009
| Company | Exchange | Ticker | Industry | Offer Date | Proposed Price Range | Shares (in millions) | IPO Price | 1st Day Close | Lead Underwriters |
| Emdeon | NYSE | EM | Technology | 5 Aug | $13.50 - $15.50 | 21.50 | NA | NA | Morgan Stanley |
| Avago Technologies (Video) | NASDAQ | AVGO | Technology | 5 Aug | $13.00 - $15.00 | 36.00 | NA | NA | Barclays Capital, Deutsche Bank |
| CDC Software (Video) | NASDAQ | CDCS | Technology | 3 Aug | $11.00 - $13.00 | 4.80 | NA | NA | Lazard, JMP Securities |
| PennyMac Mortgage Investment Trust (Video) | NYSE | PMT | Financials | 30 Jul | NA | 20.00 | $20.00 | NA | Credit Suisse, Deutsche Bank |
| Sutherland Asset Management (Video) | NYSE | SLD | Financials | 3 Aug | $15.00 - $15.00 | 16.70 | $15.00 | NA | UBS Investment Bank, Keefe Bruyette Woods |
| Globe Specialty Metals | NASDAQ | GSM | Basic Materials | 29 Jul | $7.00 - $9.00 | 14.00 | NA | NA | Credit Suisse, Jefferies & Company |
| LogMeIn | NASDAQ | LOGM | Technology | 1 Jul | $14.00 - $16.00 | 6.67 | $16.00 | $20.02 | Barclays Capital, J P Morgan |
| Invesco Mortgage Capital | NYSE | IVR | Financials | 26 Jun | $20.00 - $20.00 | 8.50 | $20.00 | NA | Credit Suisse, Morgan Stanley |
| Medidata Solutions | NASDAQ | MDSO | Technology | 25 Jun | $11.00 - $13.00 | 6.30 | $14.00 | $17.00 | Piper Jaffray |
| Chemspec International | NYSE | CPC | Consumer Goods | 24 Jun | $7.00 - $9.00 | 8.09 | $9.00 | $9.00 | Citigroup, Credit Suisse |
| Duoyuan Global Water | NYSE | DGW | Consumer Goods | 24 Jun | $13.00 - $15.00 | 5.50 | $16.00 | $21.87 | Citigroup, Credit Suisse |
| Cypress Sharpridge Investments | NYSE | CYS | Financials | 12 Jun | $11.00 - $13.00 | 9.10 | $11.00 | $11.55 | Merrill Lynch, Morgan Stanley |
| Government Properties Income Trust | NYSE | GOV | Financials | 3 Jun | $20.00 - $22.00 | 10.00 | $20.00 | $19.47 | Merrill Lynch |
| OpenTable | NASDAQ | OPEN | Consumer Services | 21 May | $12.00 - $14.00 | 3.00 | $20.00 | $31.89 | Merrill Lynch |
| SolarWinds | NYSE | SWI | Technology | 20 May | $9.50 - $11.50 | 12.10 | $12.50 | $13.75 | Goldman Sachs, J P Morgan |
| DigitalGlobe | NYSE | DGI | Technology | 14 May | $16.00 - $18.00 | 14.70 | $19.00 | $21.50 | J P Morgan, Morgan Stanley |
| Rosetta Stone | NYSE | RST | Technology | 16 Apr | $15.00 - $17.00 | 6.25 | $18.00 | $25.12 | Morgan Stanley, William Blair |
| Bridgepoint Education | NYSE | BPI | Consumer Services | 14 Apr | $14.00 - $16.00 | 13.50 | $10.50 | $11.20 | Credit Suisse, J P Morgan |
| Changyou.com | NASDAQ | CYOU | Technology | 2 Apr | $14.00 - $16.00 | 7.50 | $16.00 | $20.02 | Credit Suisse, Merrill Lynch |
| NIVS IntelliMedia Tech | NYSE | NIV | Consumer Goods | 13 Mar | $3.50 - $3.50 | 0.55 | $3.50 | $4.20 | WestPark Capital |
| Mead Johnson Nutrition | NYSE | MJN | Consumer Services | 11 Feb | $21.00 - $24.00 | 30.00 | $24.00 | $26.43 | Citigroup, Morgan Stanley |
IPOs in 2008
| Company | Exchange | Ticker | Industry | Offer Date | Proposed Price Range | Shares (in millions) | IPO Price | 1st Day Close | Lead Underwriters |
| Grand Canyon Education | NASDAQ | LOPE | Consumer Services | 20 Nov | $12.00 - $14.00 | 10.50 | $12.00 | $11.85 | Credit Suisse, Merrill Lynch |
| Chardan 2008 China Acq Corp | NASDAQ | CACAU | Financials | 11 Aug | $8.00 - $8.00 | 6.90 | $8.00 | $8.12 | Brean Murray, Maxim Group |
| Rackspace Hosting | NYSE | RAX | Technology | 8 Aug | $12.00 - $16.00 | 15.00 | $12.50 | $10.01 | Credit Suisse, Goldman Sachs |
| China Mass Media Corp | NYSE | CMM | Consumer Services | 4 Aug | $5.20 - $7.20 | 7.20 | $6.80 | $6.50 | Merrill Lynch |
| China Distance Education | NYSE | DL | Consumer Services | 30 Jul | $7.00 - $8.00 | 8.80 | $7.00 | $6.15 | Citigroup, Merrill Lynch |
| GT Solar International | NASDAQ | SOLR | Technology | 24 Jul | $15.50 - $17.50 | 30.30 | $16.50 | $14.59 | Credit Suisse, UBS Investment Bank |
| North Asia Investment Corp | AMEX | NHR | Financials | 23 Jul | $10.00 - $10.00 | 5.00 | $10.00 | $9.69 | Citigroup |
| Energy Recovery | NASDAQ | ERII | Consumer Goods | 2 Jul | $7.00 - $9.00 | 14.00 | $8.50 | $9.83 | Citigroup, Credit Suisse |
| Navios Maritime Acq Corp | NYSE | NNA | Financials | 25 Jun | $10.00 - $10.00 | 22.00 | $10.00 | $10.05 | Deutsche Bank, J P Morgan |
| Hong Kong Highpower | AMEX | HPJ | Consumer Goods | 19 Jun | $3.00 - $4.00 | 0.60 | $3.25 | $6.84 | WestPark Capital |
| Britania Bulk Holdings | NYSE | DWT | Other | 18 Jun | $17.00 - $19.00 | 8.33 | $15.00 | $13.85 | Banc of America, Goldman Sachs |
| RHI Entertainment | NASDAQ | RHIE | Consumer Services | 18 Jun | $16.00 - $18.00 | 13.50 | $14.00 | $13.50 | Banc of America, J P Morgan |
| Safe Bulkers | NYSE | SB | Other | 29 May | $20.00 - $22.00 | 10.00 | $19.00 | $18.90 | Credit Suisse, Merrill Lynch |
| American Capital Agency | NASDAQ | AGNC | Financials | 15 May | $20.00 - $20.00 | 10.00 | $20.00 | $19.35 | Citigroup, Merrill Lynch |
| Verso Paper | NYSE | VRS | Consumer Goods | 15 May | $16.00 - $18.00 | 14.00 | $12.00 | $10.00 | Citigroup, Credit Suisse |
| Western Gas Partners | NYSE | WES | Oil & Gas | 9 May | $16.00 - $19.00 | 18.75 | $16.50 | $16.50 | Citigroup, UBS Investment Bank |
| Colfax Corp | NYSE | CFX | Consumer Goods | 8 May | $15.00 - $17.00 | 18.75 | $18.00 | $21.00 | Lehman Brothers, Merrill Lynch |
| Real Goods Solar | NASDAQ | RSOL | Consumer Goods | 8 May | $10.00 - $12.00 | 5.50 | $10.00 | $8.80 | ThinkEquity |
| Pioneer Southwest Energy | NYSE | PSE | Oil & Gas | 1 May | $19.00 - $21.00 | 8.25 | $19.00 | $19.65 | Citigroup, Deutsche Bank |
| Hatteras Financial | NYSE | HTS | Financials | 25 Apr | $24.00 - $26.00 | 10.00 | $24.00 | $24.68 | Banc of America, Keefe Bruyette Woods |
| Whiting USA Trust I | NYSE | WHX | Financials | 25 Apr | $19.00 - $21.00 | 10.85 | $20.00 | $20.85 | Raymond James, Wachovia Securities |
| American Water Works | NYSE | AWK | Utilities | 23 Apr | $24.00 - $26.00 | 58.00 | $21.50 | $20.60 | Citigroup, Goldman Sachs |
| Intrepid Potash | NYSE | IPI | Basic Materials | 22 Apr | $27.00 - $29.00 | 30.00 | $32.00 | $50.40 | Goldman Sachs, Merrill Lynch |
| Visa | NYSE | V | Financials | 20 Mar | $37.00 - $42.00 | 406.00 | $44.00 | $56.50 | Goldman Sachs, J P Morgan |
| CardioNet | NASDAQ | BEAT | Health Care | 18 Mar | $18.00 - $20.00 | 4.50 | $18.00 | $17.70 | Citigroup |
| Heritage-Crystal Clean | NASDAQ | HCCI | Consumer Services | 12 Mar | $10.50 - $12.50 | 1.91 | $11.50 | $14.19 | William Blair, Piper Jaffray |
| BioHeart | NASDAQ | BHRT | Health Care | 19 Feb | $6.00 - $8.00 | 1.10 | $5.25 | $5.00 | Dawson James, Merriman Curhan Ford |
| ArcSight | NASDAQ | ARST | Technology | 14 Feb | $9.00 - $11.00 | 6.86 | $9.00 | $8.78 | Lehman Brothers, Morgan Stanley |
| MAKO Surgical | NASDAQ | MAKO | Health Care | 14 Feb | $10.00 - $11.00 | 5.10 | $10.00 | $9.18 | J P Morgan, Morgan Stanley |
| Asia Time | AMEX | TYM | Consumer Services | 12 Feb | $3.00 - $4.00 | 0.84 | $3.50 | $8.50 | WestPark Capital |
| ATA Inc | NASDAQ | ATAI | Consumer Services | 29 Jan | $9.50 - $11.50 | 4.87 | $9.50 | $8.75 | Merrill Lynch |
| Cascal B.V. | NYSE | HOO | Utilities | 29 Jan | $12.00 - $13.00 | 12.00 | $12.00 | $12.00 | Credit Suisse, J P Morgan |
| IPC The Hospitalist Company | NASDAQ | IPCM | Health Care | 25 Jan | $15.00 - $17.00 | 5.20 | $16.00 | $20.48 | Credit Suisse, Jefferies & Company |
| RiskMetrics Group | NYSE | RMG | Financials | 25 Jan | $17.00 - $19.00 | 14.00 | $17.50 | $23.75 | Merrill Lynch |
| Williams Pipeline Partners | NYSE | WMZ | Oil & Gas | 18 Jan | $19.00 - $21.00 | 16.25 | $20.00 | $20.00 | Citigroup, Lehman Brothers |
See Also
- This Year's Priced IPOs, IPO Home
- Last 100 IPOs, IPO Scoop
- IPOs This Week, MarketWatch
- IPO Roadshows, RetailRoadshow
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