Seventeen initial public offerings have been priced so far this year as of Feb 2, 2006:

- 11 IPOs are currently trading above initial offering price;
- 5 are trading below the offering price;
- and 1 is trading at its offer price.

IPO PERFORMANCE

Duncan Energy Partners L.P. (DEP: chart) raised $273 million on Tuesday. The company priced its initial public offering of 13 million common units at $21.00 per unit, compared with a $19 to $21 forecast range.

The underwriters were granted a 30-day option to buy up to 1.95 million additional common units.

Lehman Brothers and UBS Investment Bank were serving as lead managers in the IPO.

Duncan Energy Partners provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, in addition to transportation and storage of natural gas liquids and petrochemicals.

The shares ended the week at $23.26, up 10.8% from the offering price.

Shares of Employers Holdings Inc. (EIG: chart) on Wednesday rose as much as 17.6%.

On Tuesday, the company raised $454.8 million with a 26.75 million share initial public offering, priced at $17 per share, above the forecast range of $14 to $16 per share.

Underwriters have the option to purchase an additional 4 million shares to cover over-allotments.

Morgan Stanley was acting as the lead manager, with Cochran Caronia Waller Securities, Fox-Pitt, Kelton, and Keefe, Bruyette & Woods acting as co-managers.

The Reno, Nevada-based company specializes in workers'' compensation insurance and services.

The shares ended the week at $19.08, up 12.2% from the offering price.

HFF, Inc. (HF: chart) on Tuesday raised $257 million. The company priced the initial public offering of 14.3 million shares of its common stock at $18 per share, compared with a $15 to $17 forecast range.

The underwriters also have an option for 30 days to purchase up to 2.1 million additional shares to cover over-allotments.

The lead managers for the initial public offering were Goldman Sachs and Morgan Stanley.

The Pittsburg, Pennsylvania-based company provides financial services to commercial real estate companies, including advisory service, investment banking, structured financing and the closing and maintenance of loans.

The shares ended the week at $20.97, up 16.5% from the offering price.

Animal Health International, Inc. (AHII: chart) on Tuesday raised $129.8 million. The company priced its initial public offering of 11.8 million shares of common stock at $11 per share, in the middle of the forecast range of $10 to $12.

The Westlake, Texas-based company sold 9.1 million shares while private equity firm Charlesbank Capital Partners sold 2.7 million shares.