191 initial public offerings have been priced so far this year and as of this Friday, Nov 18, 2005:

- 106 IPOs are currently trading above initial offering price;
- 83 are trading below the offering price;
- and 2 are trading at their offer price.

A total of 7 IPOs were priced and 8 companies filed to go public during the week of November 14th, 2005. There are 4 deals scheduled to be priced during the coming week, hoping to raise about $830 million.

IPO PERFORMANCE

ADVANCERS

The athletic wear maker Under Armour Inc. (UARM: chart) priced 12.1 million shares at $13 on Friday, above the high end of a revised filing range of $10-$12. On Thursday the company raised the target price range for its shares to $10 - $12 from the original range of $7.50 - $9.50 a share. The deal was worth $157.6 million.

Of the total offering, Under Armour sold 9.5 million shares, while the remaining 2.6 million shares were offered by certain stockholders.

In addition, the underwriters have an option to purchase up to 1.8 million additional shares from certain stockholders to cover over-allotments.

Goldman Sachs was acting as the lead underwriter for the offering. CIBC World Markets and Wachovia Securities were joint lead managers, while Piper Jaffray and Thomas Weisel were serving as co-managers.

Under Armour's performance ranks as the second-best debut of an IPO in the U.S. market this year, after that of Chinese search engine Baidu.com Inc. (BIDU: chart). It also marks the best first-day performance of a U.S. company since semiconductor company Transmeta Corp. (TMTA: chart) gained 115% on its first day of trading in November 2000, according to Thomson Financial.

Investors have shown a strong interest this year in specialty athletic gear and retailers, with IPOs from Zumiez Inc. (ZUMZ: chart) and Volcom Inc. (VLCM: chart) producing near 100% gains on their first days of trading.

The company reported net income of $12.7 million in the first nine months of 2005 on net revenue of $193.8 million, compared with net income of $10.2 million and revenue of $135.5 million in the same period a year ago.

Under Armour’s stock opened at $31 a share on Friday, more than double its IPO price, and closed the first day and week at $25.30, up 95% from the offering price.


IntercontinentalExchange Inc. (ICE: chart) priced 16 million shares at $26 per share on Wednesday. The price was at the high end of the $24 - $26 revised filing range. The company originally planned to offer 10 million shares within a price range $18 - $20. The offer was worth $416 million.

Of the total offering, ICE is selling 2.5 million shares, while the remaining 13.5 million shares were offered by existing shareholders.

In addition, the underwriters have an option to purchase up to 2.4 million additional shares from the selling shareholders, at the public offering price, to cover over-allotments.

Morgan Stanley and Goldman Sachs were the lead underwriters, and William Blair, Sandler O'Neill and SG Corporate & Investment Banking were acting as co-managers.

The Atlanta-based company is a futures and OTC marketplace that trades a broad array of energy products. ICE's performance follows a similarly strong market debut by CBOT Holdings (BOT: chart), which operates the Chicago Board of Trade. CBOT shares have more than doubled in price since their October debut.

ICE’s stock closed the first day at $39.25, up 51%, and ended the week at $35.00, up 34.6% from the offering price.