The IPO Buzz: Restocking the IPO Shelves

Hold on. There’s more.
On top of this traffic, countless other companies filed amendments updating their financials for the three months ended June 30, 2014. Note: People just don’t incur those enormous legal and accounting fees to file amendments, which can total over a million dollars, if they aren’t planning on jumping on the calendar in the near future.
Walk Like A Robot
Three companies filed amendments updating their proposed pricing terms and one became the first IPO on September’s calendar. That was ReWalk Robotics (RWLK – proposed), an Israeli medical device company. ReWalk is developing exoskeletons that allow wheelchair-bound individuals to stand and walk. The offering is expected to be priced on Thursday evening, Sept. 11, and to trade on Friday morning, Sept. 12. (For more information, please click here: ReWalk Robotics). There’s still more.   
The Dow Jones Industrial Average and the S&P 500 Index hit new record closing highs this past week and the NASDAQ Composite Index cruised to a 14-year high. Note: You don’t have an IPO market without the wind of a bull market at its back.
Ringside Seat
And finally the new-issues market has its own three-ring circus coming to town. It is the Alibaba Group Holdings (BABA – proposed) IPO. (For more information, please click here: Alibaba Group Holdings)
Guess what? On Thursday, Aug. 28, 2014, Alibaba filed an amendment updating its financials.
For the three months ended June 30, 2014, Alibaba reported a net income of RMB12.4 billion (US$1.99 billion), up from RMB4.4 billion, or up 179 percent, from the same period of a year ago. Alibaba reported revenues of RMB15.8 billion (US$2.54 billion), up from RMB10.8 billion, or up 43.6 percent, from the same period of a year ago.
The media reaction to that filing was like tossing kerosene on a roaring fire. That set the stage for the next shoe to drop in the Alibaba drama: the filing with Alibaba’s expected pricing terms. Only then will a trading date be announced. The gossip has the filing date as Tuesday, Sept. 2. If it happens, just wait for the media blitz.
Stay tuned.
Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinions.