They want your money: IPO pipeline swells with big deals
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With the stock market continuing to perform an amazing levitation act, here come the private companies looking to cash in by cashing out.
From Reuters:
The reinvigorated market for initial public offerings has sparked a rash of new filings by prominent companies that have been waiting for years for the chance to go public, setting the stage for potentially billions of dollars in IPOs by the end of the year. So far in August, 11 companies have filed IPO prospectuses with U.S. regulators, including a few mega-deals, making it the busiest month for new filings since December 2007. A rebound in the IPO market gathered steam in July, and 20 prospective deals have been filed in the past two months -- out of 31 filings so far in 2009, according to Thomson Reuters data.
Among the high-profile deals now in the pipeline: discount retailer Dollar General Corp.; emerging-market energy infrastrucure firm AEI; Hyatt Hotels Corp.; VS Holdings Inc., the parent of retailer Vitamin Shoppe; and coal miner Cloud Peak Energy. (For a complete list, go here.)
IPOhome.com counts 21 IPOs that have made it to the market this year, but most have been relatively small offerings, unlike the blockbusters now on the calendar.
This year’s IPOs include language tutor Rosetta Stone, semiconductor firm Avago Technologies and restaurant reservations provider OpenTable. Through Thursday, 16 of the 21 deals priced since Jan. 1 were trading above their IPO prices, according to IPOhome.com.
-- Tom Petruno