The calendar flips to spring this week, with eight IPOs expecting to raise $1.29 billion. The last time Wall Street saw an IPO calendar of this size was for the week of Feb. 4, 2013. That calendar expected to price eight IPOs and raise $1.38 billion. It didn’t turn out that way.
Technology is finally elbowing its way into 2013’s IPO calendar. One small-cap offering was priced last week, and this week’s only deal is another technology IPO.
In like a lion, out like a lamb is the old saw about March. In the case of the IPO market, the reverse is true: It’s a mild start to the month, with just two deals on this week’s calendar – one a small-cap offering and the other a retread from the past. Nevertheless, for the first time since mid-February, IPOs are back in town. Or to paraphrase Gertrude Stein: A calendar is a calendar is a calendar.
A stillness has settled into the Land of IPOs. No deals were priced last week. And nothing is scheduled for this week. But a mid-February blight in the IPO calendar is becoming normal.