Category Archives: The IPO Buzz

By: John E. Fitzgibbon, Jr.

As 2008’s first six-month period comes to a chilling close, investors will be watching to see if the stock market slips into bear market territory. You’d think that and the July 4^th holiday break would scare bankers. Not at all — they plan to price three IPOs to start the year’s second half.

By: John E. Fitzgibbon, Jr.

Two special purpose acquisition companies, or SPACs, surfaced on the IPO calendar late last week. One is scheduled for this week, the other for next. Both are targeting the maritime transportation industry.

By: John E. Fitzgibbon, Jr.

Two is a special number in the month of June, whose zodiac symbol is Gemini, the famous twins of mythology. Just two IPOs are expected to be priced this week – the only deals on tap for June. One is a marine transportation provider. The other is a made-for-television movie producer. Neither is expected to soar into the IPO Hall of Fame with an opening-day moonshot.

By: John E. Fitzgibbon, Jr.

You’re going to hear a lot about the summer doldrums starting early this year, with the IPO ship just about stalled. Nothing was priced last week, which happened to be the first week of June. There’s just one deal on this week’s calendar. And there are only two in the third week of June. But don’t believe everything you hear –- or read. The irony is this: There is no such thing as a “summer doldrums” period for the IPO market. It’s a myth.

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.

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.

 

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.

 

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.

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.

 

By: John E. Fitzgibbon, Jr.

Last week’s traffic underscored the fact that we have a market for IPOs, not an IPO market. And that’s not all that bad. Wall Street has always been subject to change. The new-issues market has been known to give early warning signals when it’s coming back to life.