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IPO Outlook: 
American Public Education Prices Above Range
Author: Yordanka Bahchevanska
123jump.com
Last Update: 4:02 PM EST November 13 2007

As much as thirteen new IPOs were launched during the past week. American Public Education’s IPO was among the best performers during the week as its stock soared as much as 92% in its debut on Friday, a day after the company priced above the expected range. Two hundred and four IPOs have been priced so far in 2007 and 52% of them are trading above their offering price. There are seventeen deals scheduled to be priced the following week.

 
Two hundred and four initial public offerings have been priced so far this year as of Nov 9th, 2007:

- 106 IPOs are currently trading above initial offering price;
- 95 are trading below the offering price;
- and 3 are trading at their offer price.

Thirteen IPOs were priced during the week of October 29th, 2007. There are as much as seventeen deals on deck for the next week, hoping to raise nearly $5 billion.

IPO PERFORMANCE

ADVANCERS:

American Public Education Inc (APEI: chart) on Thursday priced its 4.7 million shares at $20 a share, above the high end of the forecast range of $18 to $19, which had been raised from the original $15 to $17 range at filing.

The company raised $94 million with the offering.

In addition, the company has granted the underwriters a 30-day option to purchase up to 703,125 shares to cover any over-allotments.

William Blair was acting as a lead manager, with Piper Jaffray acting as co-lead manager, and Stifel, Nicolaus & Co, ThinkEquity, BMO Capital Markets and Signal Hill Capital acting as co-managers for the offering.

The Charles Town, West Virginia-based company is a parent of online learning provider American Public University System, which operates through American Military University and American Public University.

The shares ended the week at $35.9, up 80% from the offering price.

China''s AirMedia Group Inc (AMCN: chart) raised $225 million on Tuesday, with an initial public offering of 15 million American depositary shares that priced at $15 per ADS, above the forecast range of $12 to $14.

Morgan Stanley and Lehman Brothers were the lead underwriters on the deal.

The underwriters have an option to purchase 2.25 million additional ADS to cover over-allotments.

The shares ended the week at $19.4, up 29% from the offering price.

China Nepstar Chain Drugstore Ltd (NPD: chart) on Thursday raised $334 million with an initial public offering of 20.6 million American depositary shares priced at $16.20 per ADS, well above the expectations about $11.50 to $13.50.

Goldman Sachs and Merrill Lynch were the lead underwriters on the deal.

The company is China''s largest retail drugstore.

The shares ended the week at $17.5, up 8% from the offering price.

Approach Resources Inc. (AREX: chart) on Wednesday priced its initial public offering of 7.7 million shares at $12 per share, below the forecast of $14 to $16. The company raised $91.2 million with the offering.

The company sold 5.6 million shares on the offering, while a selling stockholder offered 2.1 million shares.
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