TITLE

Bankers' Flabby First Quarter

AUTHOR(S)
Fitzgibbon, John E.
PUB. DATE
April 2007
SOURCE
Red Herring;4/23/2007, Vol. 4 Issue 15, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the initial public offerings (IPOs) of the U.S. banks in the first quarter (Q1) of 2007. On March 30, the quarter's final trading day, 25 of the 44 IPOs, which bankers priced, had closed above their initial offering prices. According to the filings of the U.S. Securities and Exchange Commission, a total of 26 investment bankers acted as sole lead and joint-lead manager in bringing the 44 companies public during Q1. It is noted that Lehman Brothers Inc. raised $1.55 billion and had an average gain of 12.2%. The biggest trend during the first quarter of 2007 was the jump in the number of technology-related IPOs. The two big technology winners were Aruba Networks Inc. and BigBand Networks Inc.
ACCESSION #
24879942

 

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