Seventy four initial public offerings have been priced so far this year as of Apr 27, 2007:
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48 IPOs are currently trading above initial offering price;
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23 are trading below the offering price;
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3 are trading at their offer price.
Seven IPOs were priced during the week of April 23rd, 2007. There are eight deals on deck for the next week, hoping to raise nearly $2.6 billion.
IPO PERFORMANCE
ADVANCERS:
The movie theater operator
Cinemark Holdings Inc. (
CNK: chart) on Monday raised $532 million by offering 28 million of its shares priced at $19 per share, at the top of the $17 to $19 forecast range.
Shares of the company opened unchanged from its initial public offering price on Thuesday, but fell during the day to close at $18.96.
The company offered nearly 14.1 million shares while selling stockholders offered the remaining 13.9 million shares.
Lehman Brothers, Credit Suisse Securities, Merrill Lynch, and Morgan Stanley were the lead underwriters on the deal.
The underwriters have an option to buy another 2.8 million shares to cover excess demand.
The Plano, Texas-based company is the third-largest movie theater chain in the U.S. The Cinemark operates 4,488 screens in almost 400 theaters in the U.S. and Latin America.
Cinemark also teamed up with two other movie theater operators, AMC and
Regal Entertainment Group (
RGC: chart), for the recent IPO of
National CineMedia (
NCMI: chart).
National CineMedia went public in February raising $882 million deal. It’s shares closed at $27.32 on Monday.
The shares ended the week at $19.24, up 1% from the offering price.
American depositary shares of the Argentine electricity distribution company
Edenor (
EDN: chart) gained 7.5% in the U.S. IPO market on Thursday, a day after pricing shares at the midpoint of a forecast range.
On Wednesday the company raised $258 million after pricing 15.2 million shares at $17 a piece, at the midpoint of the $16-to-$18 forecast range. Each ADS represents 20 Class B common shares.
Edenor offered 3.74 million ADSs, while the selling shareholders offered the remaining 11.42 million shares.
Citigroup and J.P. Morgan were the lead underwriters on the deal.
The underwriters have been granted an option to buy 2.9 million additional ADSs, representing 57.7 million Class B common shares, to cover excess demand.
Edenor is the largest electricity distribution company in Argentina, measured by number of customers and electricity sold in 2006. Electricidad Argentina SA holds a 51% stake in the company.
The shares ended the week at $17.79, up 4% from the offering price. 
