Thin IPO Market Expected This Week

Waning demand and an end-of-summer lull will bring initial stock sales to a near-halt this week, with just one major IPO scheduled. Las Vegas-based PurchasePro.com Inc., which runs Web sites for luxury hotels, sports teams and other businesses, plans to sell 4 million shares at $11 to $13 each, raising $48 million.

The slowdown in sales follows mixed results for IPOs earlier this month. Eleven of the 38 companies brought to market this month are trading below their sale price. Competition for capital is likely to increase in the next few months, analysts say, with IPOs by two well-known companies--Paul Allen’s Charter Communications Inc., a cable-TV operator, and United Parcel Service Inc., the world’s largest package-delivery company.