Over the past several weeks, the new-issue calendar has been anchored by a limited partnership offering. A couple did well in the aftermarket, but not everyone caught lightning in a bottle. This week’s calendar has a limited partnership and people are reportedly looking favorably at this IPO.
At first glance, this week’s calendar of eight IPOs looks to be bountiful. But on closer inspection, it isn’t.
Last week’s stock market was a train wreck that cast a shadow across the IPO market. But it did not stop the new-issue traffic. Nine deals were priced last week, raising $1.17 billion. This week’s calendar looks to price nine more IPOs that expect to raise $2 billion.
Traffic at the IPO window has been brisk at the U.S. Securities and Exchange Commission since the Labor Day break. Over the last five weeks, 43 companies filed plans to go public with bankers looking to raise $6.1 billion; 51 companies filed updated amendments for deals aiming to raise $34.3 billion, and 27 IPOs were priced, which raised $30.4 billion. And we are just getting into October.
October is known for ghosts, goblins, stock market crashes (1929 and 1987) and a busier-than-average IPO market. This week’s calendar, which includes the first three days of October, is pumped up like a pumpkin on steroids, with 14 IPOs and bankers expecting to raise over $3.3 billion. That’s above average when compared with the recent past.
The monstrous Alibaba Group Holding (BABA) IPO offering of $21.8 billion and its explosive opening-day performance (priced at $68 per share and closed at $93.89) did not suck the life out of the new-issues market. This week’s calendar lists 12 initial public offerings with bankers expecting to raise about $6.9 billion.September 21, 2014 Read More
This week an IPO will step from the calendar into legend to stand beside Facebook (FB) and Google (GOOGL). The name is Alibaba Group Holding (BABA – proposed). Each took a different road to fame.
The other shoe finally dropped on Alibaba at 3:53 p.m. EDT on Friday, Sept. 5. That is when the U.S. Securities and Exchange Commission posted the long-awaited and highly anticipated Alibaba Group Holding (BABA – proposed) amendment giving the IPO’s expected pricing terms. A few phone calls to the IPO’s lead managers turned up the pricing date: Thursday, Sept. 18.
Although the IPO calendar has been closed for the traditional Labor Day break, Wall Street was busy restocking the new-issues shelves. Last week 16 companies filed to go public. They were looking to raise about $2.6 billion. Those “sweet 16” deals made last week one of the busiest filing weeks in over eight years. During the week of May 16, 2006, a total of 20 IPOs were filed.
Just because the IPO market is slipping into its traditional slumber from mid-August to mid-September doesn’t mean the rumor mill was quiet. More Alibaba Group Holding stories made the rounds last week. Pull up a chair. Here they are.