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IPO Outlook: 
60% of IPOs are Trading Down
Author: Yordanka Bahchevanska
123jump.com
Last Update: 5:09 PM EDT August 14 2006

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Hard market conditions prompted by worries about inflation and interest-rate increases among other factors, caused two companies to withdraw or postpone scheduled IPOs in the first week of August. A hundred and twenty five companies have launched IPOs so far in 2006, and only 41% of them are currently trading above their offering price.

 
Qimonda made an operating profit of 122 million euros ($157 million) on sales of 2.83 billion euros last fiscal year, but the former Infineon memory chip unit has also had years for which it posted losses.

The shares closed at $13.54, up 4.2%, the first day of trading, and ended the week at $13.90, up 6.9% from the offering price.

IPO CALENDAR – week of August 14th

Print solutions provider InnerWorkings (INWK: chart) plans to offer 10.6 million shares within a price range of $8-$9, in a bid to raise $109.6 million. Morgan Stanley will be the lead underwriter on the deal.

Blank check company Marathon Acquisition Corp. ((MAQ.U)) plans to sell 37.5 million units at $8 each, in a bid to raise $345 million. Citigroup and Ladenburg Thalmann will be the managers on the deal.
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