The IPO Buzz: Two Faces of China

By: John E. Fitzgibbon, Jr.
The gold rush is on at the Beijing Olympics and the Chinese athletes are in the thick of things. In contrast, no one’s been going for the gold when it comes to Chinese IPOs in the U.S. capital markets. Nevertheless, those deals have produced some interesting results.
August 17, 2008 Read More

The IPO Buzz: Into the Tank

By: John E. Fitzgibbon, Jr.
Rackspace Hosting President and CEO Lanham Napier stepped up to the balcony of the New York Stock Exchange on Friday morning and rang the opening bell. The unexpected happened. He and the company’s executives watched their stock go from a “hot IPO” to a bear market on its opening trade.
August 10, 2008 Read More

The IPO Buzz: A Dirty Dutch Auction

By: John E. Fitzgibbon, Jr.
Rackspace’s IPO comes to town this week as a “modified” Dutch auction. That could very well leave orders on the table and give the deal a pop. In Asia and Europe, modifying a Dutch auction is called a “dirty” Dutch auction. A “true” Dutch auction sweeps the order book clean and the IPO generally trades flat. Leave it to the Americans to clean up the act.

August 3, 2008 Read More

The IPO Buzz: When Things Go Wrong

 By: John E. Fitzgibbon, Jr.
GT Solar crashed on takeoff. That shocked everybody, especially the IPO handicappers who were looking for an opening-day pop of $1 to $2 per share. Something went wrong.

July 27, 2008 Read More

The IPO Buzz: Sunshine and Seoul Food

By: John E. Fitzgibbon, Jr.
After a three-week layoff, the IPO calendar gears up this week with two offerings. Both are expected to start trading Thursday, July 24, and each deal is shrouded with a degree of mystery.
 
July 20, 2008 Read More

The IPO Buzz: Generous Second Helpings

By: John E. Fitzgibbon, Jr.
When Wall Street opens for business on Monday, its investment bankers will have three deals on their equities calendar. None are IPOs. They will be secondary or follow-on offerings, and two have roots in the IPO market.
July 13, 2008 Read More

The IPO Buzz: Don’t Believe Everything You Read

By: John E. Fitzgibbon, Jr.
The financial media reported that no venture capital-backed IPOs were priced during 2008’s second quarter. One published story even read, “For the first time since 1978, there were no venture-backed Initial Public Offerings (IPOs) in the second quarter of 2008, according to the Exit Poll report by the National Venture Capital Association (NVCA) and Thomson Reuters.” Wrong! Don’t believe everything you read. Verso Paper (NYSE: VRS) got priced.
July 6, 2008 Read More

The IPO Buzz: Three Before the 4th

By: John E. Fitzgibbon, Jr.
As 2008’s first six-month period comes to a chilling close, investors will be watching to see if the stock market slips into bear market territory. You’d think that and the July 4th holiday break would scare bankers. Not at all — they plan to price three IPOs to start the year’s second half.
June 29, 2008 Read More

The IPO Buzz: Testing The Waters

By: John E. Fitzgibbon, Jr.
Two special purpose acquisition companies, or SPACs, surfaced on the IPO calendar late last week. One is scheduled for this week, the other for next. Both are targeting the maritime transportation industry.
June 22, 2008 Read More

The IPO Buzz: Gemini Time

By: John E. Fitzgibbon, Jr.
Two is a special number in the month of June, whose zodiac symbol is Gemini, the famous twins of mythology. Just two IPOs are expected to be priced this week – the only deals on tap for June. One is a marine transportation provider. The other is a made-for-television movie producer. Neither is expected to soar into the IPO Hall of Fame with an opening-day moonshot.
June 15, 2008 Read More
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