The IPO Buzz: A Peek Behind the IPO Scenery

The new-issues calendar looks like the turkey platter after the family has ravished the bird and wolfed down all its trimmings. There’s nothing on this week’s calendar, but don’t get too worried.
The U.S. Securities and Exchange Commission’s filing window was a busy place last week. Three companies filed to go public, looking to raise $922.6 million, while six companies posted expected pricing terms, aiming to raise about $2.1 billion. And six companies moved their IPOs on the calendar for the week of December 7. They are hoping to raise about $1.1 billion.
That’s not shabby traffic for a work week of just three-and-a-half days.
December is a short IPO month as buyers and bankers traditionally close their books about two weeks before the year ends. During the 2000 decade, December’s IPO calendar has produced about 164 new issues, according to the SEC’s filings. That makes an “average” December’s traffic 18 IPOs.
This year doesn’t look to produce an “average” December, with just six deals on the calendar. But more are expected. Nevertheless, this December should be much better than 2008’s December when the IPO cash register rang up “No Sale.” That’s right. Nothing was priced this time a year ago.
A quick peek into next week’s IPO calendar for the work week beginning on Monday, December 7, shows there are three IPOs from China. (Stay tuned for more on the China deals and the rest of that week’s traffic in next week’s column.)
Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do they trade or invest in IPOs. The author and staff do not issue advice, recommendations and opinions.