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IPO Outlook: 
MSCI Raises $252 Million With An IPO
Author: Yordanka Bahchevanska
123jump.com
Last Update: 3:46 PM EST November 19 2007

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As much as twelve new IPOs were launched during the past week. Shares of Morgan Stanley’s spin-off, MSCI, gained at start after pricing at the top of expectations. Virtual Radiologic, 3Par and Rubicon Technology also were among the best first-day performers during the week. Two hundred and sixteen IPOs have been priced so far in 2007 and 52.7% of them are trading above their offering price. There are seven deals scheduled to be priced the following week.

 
UBS Investment Bank was the lead underwriter on the deal.

The underwriters have the option to purchase 1 million additional shares to cover over-allotments.

The shares ended the week at $17.5, up 25% from the offering price.

The initial public offering by EnteroMedics Inc (ETRM: chart) raised $40 million on Wednesday.

The company offered 5 million shares priced at $8 per share, at the low end of the forecast range of $8 to $9, which had been previously cut from $14 to $16.

All of the shares in the offering were sold by EnteroMedics.

J.P. Morgan and Morgan Stanley were acting as lead managers of the offering, with Cowen& Co. acting as co-lead and Leerink Swann acting as co-manager for the offering.

The underwriters have a 30-option to purchase up to 750,000 additional shares.

The St. Paul, Minnesota-based company is developing a device to use neuroblocking technology to treat obesity and other gastrointestinal disorders.

The shares ended the week at $8.16, up 2% from the offering price.

El Paso Pipeline Partners LP (EPB: chart) on Thursday raised $500 million with an initial public offering of 25 million common units priced at $20 per unit, in the middle of a forecast range of $19 to $21.

Lehman Brothers, Citigroup, Goldman Sachs and UBS Securities were the lead underwriters on the deal.

The have the option to purchase up to 3.75 million additional shares to cover over-allotments.

The Houston, Texas-based company, a master limited partnership which owns and operates natural gas transportation pipelines.

The shares ended the week at $20.9, up 4% from the offering price.

EnergySolutions (ES: chart) raised $690 million on Wednesday with an initial public offering of 30 million shares priced at $23 a share, above the expectations about $19 to $21.

Credit Suisse, JP Morgan and Morgan Stanley were the lead underwriters for the offering.

The underwriters have the option to purchase 4.5 million additional shares to cover over-allotments.

The Salt Lake City, Utah-based company provides nuclear services.

The shares ended the week at $23.01, almost unchanged with the offering price.

Shares of Internet Brands Inc (INET: chart) rose in their first day of trading Friday. The company priced its offering of 6 million shares at $8 a share.
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