Following Loughran and Ritter (1995), we perform time-series regressions of monthly calendar-time portfolio returns for IPO
firms on the three Fama and French factors and the momentum factor.
Last year's number of IPO
firms that saw higher initial market quotes than their respective IPO
prices decreased by 70 from the previous year to 89, slipping below 100 for first time in five years.
The October 11 IPO
of Sony Financial Holdings raised a total of 217.
CCH product manager John Strickland said the "ability to instantly sort through IPOs
by industry type, size of offer, fees paid and scores of other criteria, makes it easy for subscribers to zero in on data that's directly relevant to their interests, then make comparisons and even retrieve the actual language of a prospectus or other filing.
market is open for business," said Joe Muscat, Chairman of the IPO
is sponsored by China International Capital Corp.
Robert Walker, CFO of Agilent Technologies, the big equipment maker spun off from HewlettPackard, noted that the prime motivation for the IPO
was to allow the Agilent people to concentrate on their own businesses and objectives and not get lost in the far larger agenda of HP.
These limited offerings go to the biggest online brokerage customers, however, DLJ Direct, a unit of Donaldson, Lufkin and Jenrette, limits IPO
access to those with accounts in excess of $50,000.
Company Profiles--Detailed data on each IPO
company, including offering details, management bios, shareholder listings, and underwriter detail
Pricing an IPO
is always a function of the valuation," says Charles J.
Seminis will use the IPO
proceeds to redeem preferred stock and pay down some debt.
Like Dollar Tree, he considered an IPO
, but the company was only five years old with $50 million in sales, and the hassles of being public including keeping one eye always on the stock price weren't commensurate with where the company was in terms of development.
Visa priced above its expected range in March 2008, becoming the largest IPO
ever for a U.
The new UAE Companies Law, awaiting final approval by authorities and expected to take effect by end-2013, would be more significant in giving a further fillip to the IPO
market in the UAE.
Al Masah Capital's newly-launched IPO
Fund is open for subscription; AMCL IPO
Fund will target specific regional IPOs
that provide the best potential for growth.