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Die IPO-Maschine läuft sich warm
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As stocks keep rallying, IPOs return
Eight companies look to raise $3.7 billion in biggest week for IPOs in nearly 2 years
By Sara Lepro, AP Business Writer
On Thursday September 17, 2009, 4:30 pm EDT
Buzz up! 2 Print.NEW YORK (AP) -- Coming off its worst year in three decades, the market for initial public offerings is starting to show signs of life.
Eight companies are looking to raise as much as $3.7 billion when they go public next week, the most activity the U.S. IPO market has seen in a single week in nearly two years and a clear sign that Wall Street's appetite for risk is returning.
IPOs all but dried up in 2008 as investors shunned the traditionally risky bets and moved into safer assets like cash and Treasurys as the stock market tumbled.
Only 43 companies completed IPOs in the U.S. last year, down from 272 the year before and 221 in 2006, according to Renaissance Capital's IPOHome.com. It was the slowest year for IPOs since 1978.
The amount of money raised through IPOs last year sank 53 percent to $28 billion, but more than half of that came from just one offering. Without the mammoth $18 billion Visa Inc. IPO in March, the largest on record, last year's total would have been a paltry $10 billion, far below the $59.7 billion raised in 2007.
In another sign of how poor demand has been, the number of companies that canceled their planned offerings nearly doubled in 2008 from the year before, according to IPOHome.com. The deals that did make it to market had disappointing returns, further discouraging investors.
The IPO market has trudged along so far this year, with 22 companies raising $5 billion in capital. Next week's heavy load of offerings could mark a turning point in the market -- if all goes well.
"The IPO market has windows that open and close, and right now the window is open to get deals done," said Sal Morreale, an institutional salesman with Cantor Fitzgerald in Los Angeles.
Analysts attribute the resurgence in IPO activity to growing confidence in the stock market. Major stock indicators are up more than 50 percent since hitting 12-year lows in early March. With investors showing a willingness to take chances, companies are starting to feeling better about raising money through stock offerings.
The number of companies preparing to go public has been gaining pace since early July, four months after the stock market bottomed out. There are now 89 companies in the IPO pipeline, up from 29 in March. It typically takes a couple of months for a company to prepare for a stock offering after the initial paperwork is filed with regulators.
"This pot has been bubbling," said John Fitzgibbon, founder of IPOScoop.com. "It's just taken a while for the courage to settle in to the market to take that step forward."
Many of the companies on next week's calendar are large and well-established, with solid balance sheets that analysts say should attract strong demand.
Among the deals scheduled for next week that are gaining interest are Shanda Games Ltd., a spinoff of leading Chinese online game developer Shanda Interactive; Foursquare Capital, a newly-formed mortgage real estate insurance trust backed by AllianceBernstein; and Artio Global Investors, the parent company of Julius Baer Investment Management.
Companies looking to come public in the coming months include Dollar General, Hyatt Hotels and Dole Food Co.
"Next week will bring a lot of potential IPO investors back to the table," said Francis Gaskins, president of IPODesktop.com. "The pipeline is large enough where I think there will be a number of IPOs this fall."
Eight companies look to raise $3.7 billion in biggest week for IPOs in nearly 2 years
By Sara Lepro, AP Business Writer
On Thursday September 17, 2009, 4:30 pm EDT
Buzz up! 2 Print.NEW YORK (AP) -- Coming off its worst year in three decades, the market for initial public offerings is starting to show signs of life.
Eight companies are looking to raise as much as $3.7 billion when they go public next week, the most activity the U.S. IPO market has seen in a single week in nearly two years and a clear sign that Wall Street's appetite for risk is returning.
IPOs all but dried up in 2008 as investors shunned the traditionally risky bets and moved into safer assets like cash and Treasurys as the stock market tumbled.
Only 43 companies completed IPOs in the U.S. last year, down from 272 the year before and 221 in 2006, according to Renaissance Capital's IPOHome.com. It was the slowest year for IPOs since 1978.
The amount of money raised through IPOs last year sank 53 percent to $28 billion, but more than half of that came from just one offering. Without the mammoth $18 billion Visa Inc. IPO in March, the largest on record, last year's total would have been a paltry $10 billion, far below the $59.7 billion raised in 2007.
In another sign of how poor demand has been, the number of companies that canceled their planned offerings nearly doubled in 2008 from the year before, according to IPOHome.com. The deals that did make it to market had disappointing returns, further discouraging investors.
The IPO market has trudged along so far this year, with 22 companies raising $5 billion in capital. Next week's heavy load of offerings could mark a turning point in the market -- if all goes well.
"The IPO market has windows that open and close, and right now the window is open to get deals done," said Sal Morreale, an institutional salesman with Cantor Fitzgerald in Los Angeles.
Analysts attribute the resurgence in IPO activity to growing confidence in the stock market. Major stock indicators are up more than 50 percent since hitting 12-year lows in early March. With investors showing a willingness to take chances, companies are starting to feeling better about raising money through stock offerings.
The number of companies preparing to go public has been gaining pace since early July, four months after the stock market bottomed out. There are now 89 companies in the IPO pipeline, up from 29 in March. It typically takes a couple of months for a company to prepare for a stock offering after the initial paperwork is filed with regulators.
"This pot has been bubbling," said John Fitzgibbon, founder of IPOScoop.com. "It's just taken a while for the courage to settle in to the market to take that step forward."
Many of the companies on next week's calendar are large and well-established, with solid balance sheets that analysts say should attract strong demand.
Among the deals scheduled for next week that are gaining interest are Shanda Games Ltd., a spinoff of leading Chinese online game developer Shanda Interactive; Foursquare Capital, a newly-formed mortgage real estate insurance trust backed by AllianceBernstein; and Artio Global Investors, the parent company of Julius Baer Investment Management.
Companies looking to come public in the coming months include Dollar General, Hyatt Hotels and Dole Food Co.
"Next week will bring a lot of potential IPO investors back to the table," said Francis Gaskins, president of IPODesktop.com. "The pipeline is large enough where I think there will be a number of IPOs this fall."
finance.yahoo.com/news/...ok-Milestone-ibd-2176138307.html?x=0
in diesem Thread gar nicht so falsch, wie ich das bei meinem zweiten Posting dargestellt habe, denn richtig daran war, dass die Speerspitze in den USA abläuft und daher viel Untergangsgesäusel in dieser Richtung absurd ist, wie die erste Seite von meinem Ausgangsposting zeigt:
Studie: Deutschland verliert an Attraktivität für IT-Industrie
Donnerstag, 17. September 2009, 11:16 Uhr
Diesen Artikel drucken | Einzelne Seite[-] Text [+] Helsinki (Reuters) - Deutschland hat an Attraktivität für die IT-Industrie verloren.
Im Ranking der wettbewerbsfähigsten IT-Nationen rutschte Deutschland um einen Platz auf den 20. Rang ab, wie am Donnerstag aus einer Studie der Forschungsabteilung des britischen Wirtschaftmagazins "The Economist" hervorging. In Europa sind die Standortfaktoren demnach vor allem in Skandinavien, den Niederlanden und Großbritannien günstiger. Deutschland liegt bei den Ländern Westeuropas auf dem 11. Platz. Weltweit wird die Rangliste von den USA angeführt, gefolgt von Finnland und Schweden.
In den seit drei Jahren erhobenen Index fließen 26 Indikatoren aus 66 Ländern ein, darunter die Qualität der örtlichen Technologie-Infrastruktur, das Rechtssystem, das Innovationsumfeld, das Potenzial an Nachwuchskräften und die Forschungspolitik der Regierungen.
Nachfolgend die ersten Zehn und einige ausgewählte Länder (In Klammern die Vorjahresplatzierung):
1. USA (1)
2. Finnland (13)
3. Schweden (4)
4. Kanada (6)
5. Niederlande (10) Fortsetzung...
Studie: Deutschland verliert an Attraktivität für IT-Industrie
Donnerstag, 17. September 2009, 11:16 Uhr
Diesen Artikel drucken | Einzelne Seite[-] Text [+] Helsinki (Reuters) - Deutschland hat an Attraktivität für die IT-Industrie verloren.
Im Ranking der wettbewerbsfähigsten IT-Nationen rutschte Deutschland um einen Platz auf den 20. Rang ab, wie am Donnerstag aus einer Studie der Forschungsabteilung des britischen Wirtschaftmagazins "The Economist" hervorging. In Europa sind die Standortfaktoren demnach vor allem in Skandinavien, den Niederlanden und Großbritannien günstiger. Deutschland liegt bei den Ländern Westeuropas auf dem 11. Platz. Weltweit wird die Rangliste von den USA angeführt, gefolgt von Finnland und Schweden.
In den seit drei Jahren erhobenen Index fließen 26 Indikatoren aus 66 Ländern ein, darunter die Qualität der örtlichen Technologie-Infrastruktur, das Rechtssystem, das Innovationsumfeld, das Potenzial an Nachwuchskräften und die Forschungspolitik der Regierungen.
Nachfolgend die ersten Zehn und einige ausgewählte Länder (In Klammern die Vorjahresplatzierung):
1. USA (1)
2. Finnland (13)
3. Schweden (4)
4. Kanada (6)
5. Niederlande (10) Fortsetzung...
On tap: biggest week for IPOs since 2007
NEW YORK (Reuters) - This week is slated to be the biggest for initial public offerings in the United States in nearly two years -- and some say the resurgence could be sustainable.
There are eight deals on deck and they are expected to raise $3.5 billion, which would increase 2009's total so far by 66 percent. In an additional sign of strength, they run the gamut from real estate investment trusts created to buy toxic assets to a clean tech company that has never made a profit.
That broadening of industries shows how much the IPO market has healed since a six-month virtual drought ended in February, with the recovery in the IPO market that started in China and Brazil making its way to the United States.
"It's too early to say 'everything's fine, everyone come back into the pool,' but we are seeing signs that more and more types of investors are coming back to the market and there is robust interest in IPOs," said Mary Ann Deignan, head of equity capital markets for the Americas at UBS Investment Bank.
The number of deals could make it the busiest since the week of December 9, 2007, when 11 IPOs came to market. So far this year, there have been only 22 IPOs.
LESS RISK AVERSE?
Among the IPOs ready to test investor appetite for risk is Foursquare Capital Corp (FSQR.N), a REIT that will be run by a unit of money manager AllianceBernstein (AB.N) and plans to raise $500 million with which to buy "toxic assets" under a U.S. Treasury program.
Two other REITs, Colony Financial Inc (CLNY.N) and Apollo Commercial Real Estate Finance Inc (ARI.N), created by Leon Black's private equity firm, are each seeking hundreds of millions to buy commercial mortgage-backed securities, betting that their values will rebound.
IPO investors are becoming more adventurous again.
"Investors are looking more broadly across all sectors now. It's not just defensive names that are appealing," Deignan said.
But a flop or two next week, or a sudden end to the recent stock market rally, could be enough to send investors running for the doors again, an analyst said.
People could be frightened if some of these deals do badly," said Nick Einhorn, a research analyst at Connecticut-based investment firm Renaissance Capital.
Despite considerable buzz, A123 Systems Inc (AONE.O), a promising lithium car battery maker gunning for $225 million, may give investors pause as it would be the first this year by an unprofitable company.
Two of the offerings are carve-outs from large companies: Swiss bank Julius Baer's (BAER.VX) U.S. asset management unit Artio Global Investors Inc (ART.N) ($585 million) and Chinese media company Shanda Interactive's (SNDA.O) spin-off of its gaming unit Shanda Games Ltd (GAME.O) in a $725 million IPO.
Investors have been receptive to carve-outs this year. Shanda Games' rival Changyou.com Ltd (CYOU.O) was carved out of Chinese Internet portal Sohu.com (SOHU.O) and has risen 156 percent since its IPO in April in the best performance of the year, leading some analysts to say Shanda could see the strongest first day jump of this week's crop. Investors have been rewarded -- 13 of 16 IPOs (excluding REITs) this year have risen since their debuts and the FTSE Renaissance IPO Index is up 41.3 percent, besting the S&P 500 Index's .SPX 18.4 percent rise.
HAPPY BANKERS
The spike in IPOs has come as a relief to investment banks that covet underwriting fees and the prestige of being on the hottest deals.
Of all investment banks, Goldman Sachs, (GS.N) which is co-managing five of the IPOs, stands to gain the most if the coming week's deals all price at expected levels.
Goldman would jump to No. 2 from No. 8 in the league tables for 2009 so far, barely behind rival Morgan Stanley (MS.N), according to projections by Thomson Reuters.
Morgan Stanley would leapfrog over Bank of America Merrill Lynch (BAC.N), which would fall to No. 3 -- though all the top three would be within a hair of each other.
While IPOs remain inherently risky investments, the slew of IPO filings since July point to a sustained spike in IPOs through the end of the year, Deignan said.
Since July 1, 33 companies have filed for IPOs, compared with only 11 in the first half of the year.
Deignan does not think the market will maintain next week's torrid pace but expects two to three IPOs per week to be the norm again in the coming months.
"We could see a good number of those late summer filings come to market this fall," she said.
(Reporting by Phil Wahba; Editing by Phil Berlowitz)
NEW YORK (Reuters) - This week is slated to be the biggest for initial public offerings in the United States in nearly two years -- and some say the resurgence could be sustainable.
There are eight deals on deck and they are expected to raise $3.5 billion, which would increase 2009's total so far by 66 percent. In an additional sign of strength, they run the gamut from real estate investment trusts created to buy toxic assets to a clean tech company that has never made a profit.
That broadening of industries shows how much the IPO market has healed since a six-month virtual drought ended in February, with the recovery in the IPO market that started in China and Brazil making its way to the United States.
"It's too early to say 'everything's fine, everyone come back into the pool,' but we are seeing signs that more and more types of investors are coming back to the market and there is robust interest in IPOs," said Mary Ann Deignan, head of equity capital markets for the Americas at UBS Investment Bank.
The number of deals could make it the busiest since the week of December 9, 2007, when 11 IPOs came to market. So far this year, there have been only 22 IPOs.
LESS RISK AVERSE?
Among the IPOs ready to test investor appetite for risk is Foursquare Capital Corp (FSQR.N), a REIT that will be run by a unit of money manager AllianceBernstein (AB.N) and plans to raise $500 million with which to buy "toxic assets" under a U.S. Treasury program.
Two other REITs, Colony Financial Inc (CLNY.N) and Apollo Commercial Real Estate Finance Inc (ARI.N), created by Leon Black's private equity firm, are each seeking hundreds of millions to buy commercial mortgage-backed securities, betting that their values will rebound.
IPO investors are becoming more adventurous again.
"Investors are looking more broadly across all sectors now. It's not just defensive names that are appealing," Deignan said.
But a flop or two next week, or a sudden end to the recent stock market rally, could be enough to send investors running for the doors again, an analyst said.
People could be frightened if some of these deals do badly," said Nick Einhorn, a research analyst at Connecticut-based investment firm Renaissance Capital.
Despite considerable buzz, A123 Systems Inc (AONE.O), a promising lithium car battery maker gunning for $225 million, may give investors pause as it would be the first this year by an unprofitable company.
Two of the offerings are carve-outs from large companies: Swiss bank Julius Baer's (BAER.VX) U.S. asset management unit Artio Global Investors Inc (ART.N) ($585 million) and Chinese media company Shanda Interactive's (SNDA.O) spin-off of its gaming unit Shanda Games Ltd (GAME.O) in a $725 million IPO.
Investors have been receptive to carve-outs this year. Shanda Games' rival Changyou.com Ltd (CYOU.O) was carved out of Chinese Internet portal Sohu.com (SOHU.O) and has risen 156 percent since its IPO in April in the best performance of the year, leading some analysts to say Shanda could see the strongest first day jump of this week's crop. Investors have been rewarded -- 13 of 16 IPOs (excluding REITs) this year have risen since their debuts and the FTSE Renaissance IPO Index is up 41.3 percent, besting the S&P 500 Index's .SPX 18.4 percent rise.
HAPPY BANKERS
The spike in IPOs has come as a relief to investment banks that covet underwriting fees and the prestige of being on the hottest deals.
Of all investment banks, Goldman Sachs, (GS.N) which is co-managing five of the IPOs, stands to gain the most if the coming week's deals all price at expected levels.
Goldman would jump to No. 2 from No. 8 in the league tables for 2009 so far, barely behind rival Morgan Stanley (MS.N), according to projections by Thomson Reuters.
Morgan Stanley would leapfrog over Bank of America Merrill Lynch (BAC.N), which would fall to No. 3 -- though all the top three would be within a hair of each other.
While IPOs remain inherently risky investments, the slew of IPO filings since July point to a sustained spike in IPOs through the end of the year, Deignan said.
Since July 1, 33 companies have filed for IPOs, compared with only 11 in the first half of the year.
Deignan does not think the market will maintain next week's torrid pace but expects two to three IPOs per week to be the norm again in the coming months.
"We could see a good number of those late summer filings come to market this fall," she said.
(Reporting by Phil Wahba; Editing by Phil Berlowitz)
www.fool.com/investing/high-growth/2009/09/...-are-coming.aspx
finance.yahoo.com/news/...ries&pos=1&asset=&ccode=
Oct. 5, 2009, 10:04 a.m. EDT · Recommend · Post:
Big IPOs due this week from Verisk and Santander Explore related topics
Banks Insurance Story
Comments Screener Alert Email Print ShareBy Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) -- Two U.S. initial public offerings will break the billion-dollar barrier this week as insurance data firm Verisk Analytics and Brazilian banking giant Santander get ready for their stock market debuts.
Banco Santander Brasil SA, a carve-out from Banco Santander SA of Spain, will stage a global stock offering that could raise more than $7 billion, one of the largest this year.
The bank plans to offer 525 million common units at an estimate price of $12.37 to $14.06 per American depositary share. The bank will trade on the New York Stock Exchange under the symbol BSBR. Santander and Credit Suisse are underwriting the IPO.
Verisk Analytics plans to offer 85.25 million shares at $19-$21 a share in a bid to raise about $1.7 billion with underwriters Bank of America Merrill Lynch and Morgan Stanley.
The Jersey City, N.J., company, which ranks as the largest provider of actuarial and underwriting data for U.S. property and casualty insurers, plans to trade on the Nasdaq under the symbol VRSK.
In a healthy sign for initial public offerings, the number of U.S. IPOs increased by 240% in the third quarter, compared to the same quarter a year ago, according to Hoovers.
A total of 17 IPOs debuted in this year's third quarter, up from only five in the year-ago period.
Besides Santander Brasil and Verisk, other big IPOs waiting in the wings include a $2 billion IPO from JBS USA Holdings, a $1.1 billion deal from Hyatt Hotels Corporation and a $1.2 billion IPO from Cobalt International Energy.
The week of Sept. 20, marked the busiest week for U.S. IPOs in nearly two years, with seven companies going public and collectively raising more than $3 billion, Hoovers noted.
Steve Gelsi is a reporter for MarketWatch in New York.
Big IPOs due this week from Verisk and Santander Explore related topics
Banks Insurance Story
Comments Screener Alert Email Print ShareBy Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) -- Two U.S. initial public offerings will break the billion-dollar barrier this week as insurance data firm Verisk Analytics and Brazilian banking giant Santander get ready for their stock market debuts.
Banco Santander Brasil SA, a carve-out from Banco Santander SA of Spain, will stage a global stock offering that could raise more than $7 billion, one of the largest this year.
The bank plans to offer 525 million common units at an estimate price of $12.37 to $14.06 per American depositary share. The bank will trade on the New York Stock Exchange under the symbol BSBR. Santander and Credit Suisse are underwriting the IPO.
Verisk Analytics plans to offer 85.25 million shares at $19-$21 a share in a bid to raise about $1.7 billion with underwriters Bank of America Merrill Lynch and Morgan Stanley.
The Jersey City, N.J., company, which ranks as the largest provider of actuarial and underwriting data for U.S. property and casualty insurers, plans to trade on the Nasdaq under the symbol VRSK.
In a healthy sign for initial public offerings, the number of U.S. IPOs increased by 240% in the third quarter, compared to the same quarter a year ago, according to Hoovers.
A total of 17 IPOs debuted in this year's third quarter, up from only five in the year-ago period.
Besides Santander Brasil and Verisk, other big IPOs waiting in the wings include a $2 billion IPO from JBS USA Holdings, a $1.1 billion deal from Hyatt Hotels Corporation and a $1.2 billion IPO from Cobalt International Energy.
The week of Sept. 20, marked the busiest week for U.S. IPOs in nearly two years, with seven companies going public and collectively raising more than $3 billion, Hoovers noted.
Steve Gelsi is a reporter for MarketWatch in New York.
www.google.com/hostednews/ap/article/...sNSVTES_ZIL9gD9B6ERR00
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