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IPO Outlook: 
Spirit AeroSystems Raises $1.4 billion IPO
Author: Yordanka Bahchevanska
123jump.com
Last Update: 6:27 PM EST November 26 2006


Shares of two aircraft-related companies, Spirit AeroSystems and AerCap, made good gains it their first day of trading Tuesday on the NYSE. Spirit raised $1.4 billion pricing above the forecast range. A Mexican airport operator is on the calendar for the next week. A hundred and ninety four companies have launched IPOs so far in 2006, and 60% of them are currently trading above their offering price.

 
194 initial public offerings have been priced so far this year as of Nov. 24th, 2006:

- 119 IPOs are currently trading above initial offering price;
- 68 are trading below the offering price;
- and 7 was trading at its offer price.

Four IPOs were priced during the week of November 20th, 2006. There are two deals on deck for the next week hoping to raise nearly $260 million.

IPO PERFORMANCE

ADVANCERS:

Spirit AeroSystems (SPR: chart) Monday priced 55.1 million Class A shares at $26 a share, above the expected range of $23 to $25, raising $1.4 billion.

The offering consists of 10.4 million shares sold by the company and 44.7 million shares sold by existing stockholders.

The selling stockholders have granted the underwriters a 30-day option to purchase up to 8.3 million additional shares to cover over-allotments.

Credit Suisse, Goldman Sachs and Morgan Stanley were acting as lead managers for the offering.

Spirit AeroSystems is the largest independent non-OEM designer and manufacturer of aerostructures in the world.

Wichita, Kansas-based company consists of former Boeing Co. operations in the Midwest that designs and makes airplane structures such as fuselages and propulsion systems.

The company’s shares closed at $28.8 on Friday, up 10% from the IPO price

Willdan Group, Inc. (WLDN: chart) Tuesday priced its initial public offering of 2.9 million shares at $10 per share.

The offering consists of 2.0 million shares sold by the company and 900,000 shares sold by a selling stockholder.

Wedbush Morgan acted as a lead manager for the offering.

Willdan Group has granted the underwriter an option to purchase up to 435,000 additional shares to cover over-allotments.

The company is a leading provider of outsourced services to small and mid-sized public agencies located primarily in California and other western states.

The company’s shares closed at $10.6 on Friday, up 5% from the IPO price

North American Energy Partners Inc. (NOA: chart) Tuesday priced 12.5 million shares at $16 a share, raising $200 million. The price came below the forecast range of $19 to $21 per share.

The company provides preparation and other services to oil, natural gas and natural resource companies.

The company’s shares ended the week at $16.25 per share, up 1% from the IPO price.
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