215 initial public offerings have been priced last year as of Dec 31, 2005:

- 132 IPOs are currently trading above initial offering price;
- 76 are trading below the offering price;
- and 7 are trading at their offer price.

Three IPOs were priced and two companies filed to go public during the week of January 16th, 2006. There are ten deals scheduled to be priced during the coming week, hoping to raise about $776 million.

IPO PERFORMANCE

Oil refiner and marketer Western Refining (WNR: chart) raised $382.5 million in its IPO.

The company sold 22.5 million shares, more than the 18.75 million expected, in its offering with its shares priced at $17, at the top of an expected price range of $15 - $17 per share. The company offered 18.75 million shares and 3.75 million were sold by certain shareholders.

In addition, the shareholders have granted the underwriters a 30-day option to buy up to 3.4 million additional shares, to cover excess demand.

Banc of America Securities and Deutsche Bank Securities were the lead underwriters on the deal. Bear Stearns and Merrill Lynch acted as co-managers.

The El Paso, Texas-based company is an independent crude oil refiner and marketer of refined products, operating primarily in the Southwest region of the United States, including Arizona, New Mexico and West Texas. The company owns and operates a crude oil refinery in El Paso, Texas with a crude oil refining capacity of 108,000 barrels per day.

The company’s shares closed the week at $18.55, up 9% from the offering price.

The rail car maker American Railcar Industries (ARII: chart) offered 8.5 million shares priced at $21 each on Friday, above a forecast range of $16 - $18 a share. The offer was worth $178.5 million.

The lead underwriters on the deal were UBS Investment Bank and Bear Stearns.

The Missouri-based company manufactures covered hopper cars and tanker cars.

Another rail car maker, FreightCar America (RAIL: chart) was among the best-performing IPOs of 2005. It’s shares are currently trading at about $54 on the Nasdaq, nearly three times its $19 offer price.

The company’s stock closed first day and the week at $22.95, up 9.3% from the offering price.

IPO CALENDAR – week of January 23rd

Biotech SGX Pharmaceuticals (SGXP: chart) plans to offer 4.0 million shares within a price range of $11 - $13 per share, in a bid to raise $48 million. CIBC World Markets and Piper Jaffray will be the lead managers on the deal.

Traffic information portal Traffic.com (TRFC: chart) plans to offer 6.6 million shares within a price range of $10.50-$12.50 per share, in a bid to raise $76 million. WR Hambrecht will underwrite the deal using a Dutch auction IPO.

Biotech Altus Pharmaceuticals (ALTU: chart) plans to offer 6.0 million shares within a price range of $14 - $16 a share, in a bid to raise $90 million. Merrill Lynch and Morgan Stanley will be the lead managers on the deal.

Calumet Specialty Products Partners (CLMT: chart) plans to offer 6.45 million shares within a price range of $20.50 - $22.50 per share, in a bid to raise $138.7 million. Goldman Sachs, Deutsche Bank Securities, Raymond James and Petrie Parkman will underwrite the deal.

Restaurant chain Chipotle Mexican Grill (CMG: chart) plans to offer 7.9 million shares within a price range of $15.50 - $17.50, in a bid to raise $130.4 million. Chipotle is a unit of McDonald''s. The long list of underwriters will be led by Morgan Stanley and SG Cowen.

Vaccine maker Iomai Corporation (IOMI: chart) plans to offer 6.3 million shares within a price range of $11 - $13 per share, in a bid to raise $75.6 million. UBS Investment Bank and SG Cowen will be the lead underwriters on the deal.