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MarketWatch
7 hrs ago
Comment
The market for initial public offerings is thawing, but retail investors shouldn't expect to find access to this notoriously exclusive market any easier -- though a few back doors are open for those who know where to look.
The Economic Times
10 hrs ago
Comment
The forthcoming IPO of the Sahara Group’s real estate arm will hopefully help change public perceptions about the group and make it more transparent, Sushanto Roy, the eldest son of group chairman Subrata Roy said on Friday.
The Straits Times
11 hrs ago
Comment
SINGAPORE low-cost carrier Tiger Airways is considering an initial public offering (IPO) of at least US$500 million (S$694 million) some time next year, the Wall Street Journal reported, quoting a person familiar with the situation.
Reuters
Nov 20
Comment
U.S. electric sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.
Bloomberg
Nov 20
Comment
Brenntag Holding GmbH, the German
chemicals distributor owned by private-equity firm BC Partners
Ltd., is in talks to renegotiate its 2.4 billion euros ($3.6
billion) of debt before it holds an initial public offering,
five people familiar with...
The Economic Times
Nov 20
Comment
Travel and tourism firm Cox & Kings India's initial public offer got subscribed 6.31 times on the final day of issue today, with most of the bids coming in from non-institutional and qualified institutional investors.
TheStreet.com
Nov 20
Comment
NEW YORK (TheStreet) -- David Peltier discusses how today's 4 new IPO's could set the tone for trading over the next week.
Hedge Fund Blogs From HedgeCo.Net
Nov 20
Comment
Bloomberg - Gartmore Group Ltd., the manager of about 21.8 billion pounds ($36 billion) in hedge and mutual funds, is preparing an initial public offering of at least 250 million pounds next month to reduce debt.
The money manager plans to cut...
FierceBiotech
Nov 20
Comment
Belgian drugmaker Movetis said today that it will seek up to €112.4 ($167 million) in an upcoming IPO. The gastroenterology company--which was founded in 2006 as a spin-off Johnson & Johnson units Janssen and Ortho-McNeil--recently won...
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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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