171 initial public offerings have been priced so far this year as of Nov. 3rd, 2006:
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94 IPOs are currently trading above initial offering price;
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68 are trading below the offering price;
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6 are trading at their offer price.
Six IPOs were priced during the week of October 30th, 2006. There are
ten deals on deck for the next week hoping to raise nearly $1.5 billion.
IPO PERFORMANCE
ADVANCERS:
The Israel-based company
RRSat Global Communications Network (
RRST: chart) on Tuesday raised $47.5 million with an initial public offering of 3.8 million shares, or almost 23% stake in the company, priced at $12.50, within a forecast range of $11 to $13 per share.
Stockholders sold 175,000 shares, while the company sold the rest of the shares.
CIBC World Markets and Thomas Weisel Partners were the lead underwriters on the deal.
Underwriters have an option to buy 570,000 additional shares to cover over-allotments.
RRSat provides global content management and distribution services to television and radio broadcasting industries.
The company provides services to more than 265 television channels and more than 80 radio channels, covering more than 150 countries, including Canal Europe, Fashion TV, Russia Today.
The company’s shares closed at $14.20 per share on Friday, up 18% from the IPO price.
Innophos Holdings Inc. (
IPHS: chart) on Thursday priced its initial public offering of 8.7 million common shares at $12 per share.
The company granted the underwriters an option to buy up to 1.3 million additional shares to cover excess demand.
Credit Suisse Securities, Bear Stearns and UBS Securities were acting as lead managers of the offering.
Innophos is one of the leading North American manufacturers of specialty phosphates, serving a diverse range of customers across multiple applications, geographies and channels. The company offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications.
The company’s shares ended the week at $12.35 per share, up 2% from the IPO price.
DECLINERS:
The global wireless messaging system operator
ORBCOMM Inc. (
ORBC: chart) priced its initial public offering of 9.2 million shares of common stock, or about 25% stake in the company, at $11.00 per share, below the estimated range of $12 to $14. The offering was cut from the original 11.2 million shares.
The company raised $101.5 million with the IPO.