Bankers' Flabby First Quarter

Fitzgibbon, John E.
April 2007
Red Herring;4/23/2007, Vol. 4 Issue 15, p36
Trade Publication
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.


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