TITLE

Financial Sponsors Change IPO Landscape

AUTHOR(S)
O'Connor, Colleen Marie
PUB. DATE
August 2005
SOURCE
Investment Dealers' Digest;8/22/2005, Vol. 71 Issue 33, p13
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the cat-and-mouse game that initial public-offering (IPO) investors play with investment bankers over valuations has been especially lively in 2005, partly because nearly half of the offerings have come from portfolio companies of hard-driving financial sponsors. This is not only affecting share-price discussions, but also altering the very nature of the market. Financial sponsors have even more leverage than usual in pricing because they realize they are largely responsible for keeping the IPO market percolating. Privately, heads of equity capital markets note discussions with buyout investors have become particularly heated this year.
ACCESSION #
18014208

 

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