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IPO Outlook: 
Hiland Partners' IPO hits the biggest first-day gain so far in 2005
Author: Albena Toncheva
123jump.com


As many as 9 IPOs made their debut the week Feb. 7th - 11th, 2005 - most of them closed above their offering price

 
An Enid, Oklahoma-based energy company Hiland Partners LP (HLND: chart) made the biggest first-day gain so far this year. The Company, provider of natural gas gathering and processing services, priced 2 million shares at $22.50 above the expected range of $19 to $21.

AG Edwards, Raymond James and RBC Capital Markets led the underwriting.

The company’s shares climbed 28.8% to close at $28.97 on Friday.

Huntsman Corporation (HUN: chart), a Salt Lake City-based chemicals producer, priced its shares on Feb. 10, offering 60 million shares at $23 per share. The pricing came in at the high end of the targeted range of $21 to $23, and the number of shares increased from 55.68 million.

Huntsman also priced 5 shares of 5% mandatory convertible preferred stock at $50.00 per share.

Twelve underwriters led the deal, including Citigroup, CS First Boston, Merrill Lynch and Deutsche Bank.

The $1.45 billion IPO of formerly the world's largest privately-held chemical producer ranks as the second richest from the chemical sector.

The company’s shares climbed 6.5% to close at $24.50 on Friday.

Korean gamer Gravity Co. (GRVY: chart) raised about $126 million with underwriter CS First Boston Corp. Gravity priced 9.3 million ADS at $13.50, the bottom of their expected $13.50 to $15.50 price range. The stock closed its first trading at $12.59, down 6.7%.

The company develops and distributes online games in Japan, Taiwan and Thailand.

Gravity’s shares climbed 7.09% to close at $11.78 on Friday.

Irving, Texas-based rural telecom company Valor Communications Group Inc. (VCG: chart) priced 29.4 million shares at $15 a share. The pricing came in below the expected range of $16 to $18.

The company raised $441 million via underwriters Merrill Lynch, Banc of America Securities and J.P. Morgan.

Shares of Valor surged 4% to close at $15.60 on Friday.

The Downers Grove, Illinois-based flower merchant FTD Group, Inc. (FTD: chart) priced 15.4 million shares at the midpoint of the expected range $12 to $14 at $13 each. The company, which is a provider of floral services and products, raised $200.2 million with underwriters Goldman Sachs and Citigroup.

The company’s shares traded almost flat, climbing 0.08% to close at $13.01 on Friday.

Shares of Birmingham, Alabama-based Emageon Inc. (EMAG: chart) priced at the low end of the expected range of $13 to $15 raising $65 million. The healthcare software provider sold 5 million shares via underwriters Wachovia Capital Markets and Piper Jaffray.

Shares of Emageon rose 15% on its first day of trading as a public company. The company’s shares climbed 12.7% to close at $14.65 on Friday

Telecom services company Syniverse Holdings Inc. (SVR: chart) offered 17,620,000 shares of its common stock at a price of $16.00 per share. The pricing came in below the projected range of $20 to $22. The Tampa, Florida-based firm’s IPO raised $282 million on Wednesday.

Lehman Brothers, Goldman Sachs and Bear Stearns led the underwriting.

The company’s shares dropped 4.7% to $15.75 on Friday.
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