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The IPO Buzz: Quiet Signs
By: John E. Fitzgibbon, Jr.
Just because the IPO market is in the doldrums with only a handful of deals getting out the door in May, this could be the quiet before the storm. The pipeline is loaded with well over a dozen “hot issues” that are on everybody’s “most wanted” list.
IPO Traffic for Week Ending May 30, 2008
The IPO Buzz: Oceans Aweigh
By: John E. Fitzgibbon, Jr.
The Sino-Global Shipping America (NASDAQ: SINO) IPO popped for an opening-day gain of 80.4 percent when it started trading last week, and closed Friday with a jump of 135.6 percent from its initial offering price. The deal was not on anybody’s new-issues calendar. There was a reason. It was a “best efforts” offering.
IPO Traffic for Week Ending May 23, 2008
The IPO Buzz: Back from the Dead
By: John E. Fitzgibbon, Jr.
Should you pass by the IPO Cemetery this week, you might notice some things rustling among the tombstones in the midnight mist. It’s the SPACs, or “blank check” companies, which many had written off, buried and left for dead. A couple have started coming to life and are surfacing on the IPO calendar.
IPO Traffic for Week Ending May 16, 2008
The IPO Buzz: Cover Your Fannie
By: John E. Fitzgibbon, Jr.
While Washington has been working overtime to bail out Wall Street from its binge on mortgage debt, some people in the IPO market have come up with a novel way to play “cover your Fannie.” In this case, a new real estate investment trust, or REIT, plans to go public this week and use the proceeds to invest in mortgage securities backed by Fannie Mae, the largest U.S. buyer of home loans, or its slightly smaller rival, Freddie Mac, or their lower profile “cousin,” Ginnie Mae.
IPO Traffic for Week Ending May 9, 2008
The IPO Buzz: A Pair of Firsts
By: John E. Fitzgibbon, Jr.
Watching the U.S. Securities and Exchange Commission filing window can be interesting. Since late March, 19 companies have filed plans to go public, five have priced their IPOs and five have withdrawn their deals. Those numbers signal a positive climate. And during that time, Goldman Sachs Group (NYSE: GS) has come up with a pair of firsts for itself.