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IPO Outlook: 
Limco Surges, While Orbitz Loses Ground in IPO
Author: Yordanka Bahchevanska
123jump.com
Last Update: 3:31 PM EDT July 24 2007

Eleven new IPOs were launched during the past week following two calm weeks on the market. Four of the companies that began trading during the week priced shares under expectations. Shares of Airvana, Orbitz and MF Global lost ground on their first day of trading. A hundred and thirty five IPOs have been priced so far in 2007 and 65% of them are trading above their offering price. There are eight deals scheduled to be priced the following week.

 
A hundred and thirty five initial public offerings have been priced so far this year as of July 20th, 2007:

- 88 IPOs are currently trading above initial offering price;
- 42 are trading below the offering price;
- and 5 are trading at their offer price.

Eleven IPOs were priced during the week of July 16th, 2007. There are eight deals on deck for the next week, hoping to raise nearly 1.5 billion.

IPO PERFORMANCE

ADVANCERS:

Shares of Limco-Piedmont Inc. (LIMC: chart) surged in their first day of trading Thursday after the company priced its initial public offering of 4.4 million shares at $11 each, near the top of the forecasted range of $9.50 to $11.50.

Oppenheimer was the lead underwriter for the offering, supported by Stifel Nicolaus.

The underwriters have an option to buy up to 440,000 additional shares from Limco-Piedmont and 220,000 shares from TAT Technologies to cover over-allotments.

The company is a unit of Israel-based aircraft equipment maker TAT Technologies Ltd.

The company raised $37.2 million its portion of the IPO, which totaled 3.8 million shares. TAT Technologies raised $6.5 million from its portion, which amounted to 635,000 shares.

Following the offering, TAT Technologies will own about 66% of Limco-Piedmont''s common stock.

The shares ended the week at $13.88, up 26% from the offering price.

Shares of Netezza Corp. (NZ: chart) gained more than 35% in their first day of trading Thursday.

The company priced its initial public offering of 9 million shares at $12 a share on Wednesday, above the expected price range of $9 and $11.

Credit Suisse, Morgan Stanley, Needham & Co. and Thomas Weisel served as the underwriters for the offering.

Netezza has granted the underwriters a 30-day option to purchase up to 1.4 million additional shares to cover over-allotments.

Netezza is a leading provider of data warehouse appliances.

The shares ended the week at $17.2, up 43% from the offering price.

Shares of hhgregg Inc. HGG went up in their first day of trading Friday, after the company priced its IPO of 9.4 million shares at $13 per share, below the forecasted price range of $15 - $17.

Of the total shares offered, the company was selling 3.8 million shares and the selling shareholders were selling 5.6 million.

Credit Suisse and Lehman Brothers were the lead underwriters for the offering.
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