“The only thing new is the history you don’t know,” said Harry S. Truman, the 33rd president of the United States. That’s as true now as it was when Truman said it, and it applies to the 2010 IPO market as well.
If the filing window of the U.S. Securities and Exchange Commission gives any sign of coming attractions in the IPO market, then sit back and watch the fun in 2010. The window was busy in December and throughout 2009’s fourth quarter.
The IPO calendar gears up this week for its final lap around the new-issue arena. There are four companies scheduled to go public, but with last week’s calendar hitting the wall, skeptics abound in the Land of IPOs.
Wall Street’s bankers are offering an IPO platter full of Chinese fortune cookies this week, just as holiday parties get into full swing ahead of Hanukkah and Christmas. The Chinese deals account for four of the eight companies on the new-issues calendar. But the Chinese quartet is not headed to market without some skepticism. It could, however, be unfounded.
An unexpected pop and a startling flop generated the most buzz in the IPO market last week. But the most significant development may have flown under the radar: Nine new names joined the IPO pipeline last week.
Six deals are perched in this week’s IPO nest, waiting to take flight. Bankers expect to raise $1 billion. And here’s where Mother Nature has something in common with Wall Street -– some of these deals will fly off the runway, while others will not.
Wall Street will get its own version of Fashion Week with two retailers aiming to go public in the days ahead. One is a company called rue21 (NYSE: RUE – proposed) and the other is Dollar General (NYSE: DG – proposed).
November will open its doors with six IPOs this week. They expect to raise $1.65 billion. Not a shabby start, considering that last year, only one deal was priced during the entire month of November 2008. This week’s traffic includes a household name and a dot-com. Let’s take a quick look at this week’s headliners.