The maker of small unmanned aircraft AeroVironment raised $113.9 million on Monday by pricing 6.7 million shares at $17 a share. AeroVironment is the first IPO of the year to price above the expected range. The stock start trading 47% up on the Nasdaq. Seven companies priced shares so far in 2007, and six of them are currently trading above their offering price.
AeroVironment is the first IPO of the year to price above the expected range. The maker of small unmanned aircraft raised $113.9 million on Monday by pricing 6.7 million shares at $17 a share. The stock started trading 47% up on the Nasdaq.
The year''s 228 IPOs were worth nearly $50 billion, up 23% from 2005. The average IPO gained 68% from the offer orice during the year. For a third year in a row more than 200 companies manage to list their shares. The IPO market hit the bottom in the year 2002 with less than one hundred offerings. IPOs in the technology, bio-tech, energy and financial sector dominated the list of best of performing IPOs for the year.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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