The IPO market is heating up again with 7 companies making their market debut today, but a tepid reaction to the new offerings has set the issues at the low end or even below the expected price ranges. The deals to watch for today are two biotech companies Alimera and DynaVox, energy companies Global Geophysical and alternative energy Codexis, technology companies Mitel Networks and supply chain software company SPS Commerce, and the investment management company THL Credit. Also one more company Excel Trust a financial REIT is expected to price this week under ticker EXL.
The last time more than 7 IPO’s hit the market on a single day was on December 15, 2004 when seven out of nine IPOs closed above their initial offering prices, as per IPO Scoop.com. Yet, 5+ years later this wave of new IPOs struggled to find the right pricing with more than half of the companies expected to trade today pricing below their anticipated price range. Since the start of the year, a total of 36 companies including today’s offerings have generating $5.4 billion in proceeds and 16 issues have priced below their expected range. Of the remaining twenty, 16 were within range, and only 4 priced above the anticipated range as per Renaissance Capital.
Here are todays' IPOs and sorted by their greatest price differential in percentage terms:Page 1 of 2 | Next Page