Zumindest in Amerika wird die nächste Woche spannend.
Wenn sich hier der Markt aufnahmebereit zeigt, könnten sich auch in Deutschland wieder einige Unternehmen an die Börse wagen, was wiederum Venture Capital-Unternehmen beflügeln könnte.
IPO Market Ends Sluggish Year with a Boom
By Elena Molinari
NEW YORK (Reuters) - After staggering and stumbling for most of 2001, the U.S. market
for new issues will end the year running at top speed.
Ten initial public offerings are scheduled for this week, in the busiest week of the year. The calendar includes a potential
blockbuster deal from the No. 1 U.S. life insurer by assets Prudential Financial Inc.
It will be the last week before the IPO market takes its traditional
three-week holiday break.
The 10 deals could raise a combined $6.2 billion, 15 percent of the total
proceeds raised so far in 2001. More importantly, they could set the tone
for a healthy and diverse IPO market next year.
In fact, the long-awaited Prudential IPO, with more than $3 billion worth
of shares on the table, will not be the only deal to wet investors' appetite.
``Underwriters have lined up a strong group of candidates,'' said Marc
Baum, chief executive of IPO-tracking Web site IPO.com. ``The quality
and the breath of the deals is impressive.''
After two months dominated by healthcare IPOs, this week Wall Street banks will bring to market 10 IPOs from five different
sectors, encompassing technology, finance, defense, and even biotechnology, a rare presence in this year's IPO market.
``After a difficult year, we are back in a normal IPO market. All the elements are in place now,'' added Baum. ``It's particularly
important in terms of psychology that Prudential comes to market before the end of the year.''
Prudential, which is offering 110 million shares at an estimated price range of $25 to $30 a share, will be the third largest IPO
of 2001, after Kraft Foods Inc.'s (NYSE:KFT - news) $8.7-billion deal and Agere Systems Inc.'s (NYSE:AGRa - news)
$4.1-billion offering.
Insurance IPOs have enjoyed a very positive reception from markets so far in 2001. Insurance stocks that debuted this year
are the second best-performing of 2001 after technology, with a 20-plus percent gain on average from their offering price,
according to research firm Dealogic.
Another insurer is on tap for this week. It is the world's eighth-largest re-insurer Converium Holding AG, which is being spun
off from Zurich Financial Services .
The demand for Prudential is already shaping up strong, bankers said. Three weeks ago, the IPO's lead underwriter, Goldman
Sachs, increased the size of the offering, in a sure sign of strong investors' interest.
``After the positive performance of Anthem and Principal Financial, Goldman Sachs, which managed all three deals, believes
investors still haven't had their fill of new insurance issues,'' said Kyle Huske, an analyst with IPO.com.
By running the books of the Prudential deal and of two other IPOs -- service company Aramark Worldwide Corp. and
network security firm Netscreen Technologies Inc. -- Goldman will end a meager year pocketing fees in the neighborhood of
$150 million.
Other IPOs on the calendar include biotechnology company Northwest Biotherapeutics Inc. and Pentagon contractor United
defense -- the first defense company to brave the public markets in five years.
Gruß Dr. Broemme
Wenn sich hier der Markt aufnahmebereit zeigt, könnten sich auch in Deutschland wieder einige Unternehmen an die Börse wagen, was wiederum Venture Capital-Unternehmen beflügeln könnte.
IPO Market Ends Sluggish Year with a Boom
By Elena Molinari
NEW YORK (Reuters) - After staggering and stumbling for most of 2001, the U.S. market
for new issues will end the year running at top speed.
Ten initial public offerings are scheduled for this week, in the busiest week of the year. The calendar includes a potential
blockbuster deal from the No. 1 U.S. life insurer by assets Prudential Financial Inc.
It will be the last week before the IPO market takes its traditional
three-week holiday break.
The 10 deals could raise a combined $6.2 billion, 15 percent of the total
proceeds raised so far in 2001. More importantly, they could set the tone
for a healthy and diverse IPO market next year.
In fact, the long-awaited Prudential IPO, with more than $3 billion worth
of shares on the table, will not be the only deal to wet investors' appetite.
``Underwriters have lined up a strong group of candidates,'' said Marc
Baum, chief executive of IPO-tracking Web site IPO.com. ``The quality
and the breath of the deals is impressive.''
After two months dominated by healthcare IPOs, this week Wall Street banks will bring to market 10 IPOs from five different
sectors, encompassing technology, finance, defense, and even biotechnology, a rare presence in this year's IPO market.
``After a difficult year, we are back in a normal IPO market. All the elements are in place now,'' added Baum. ``It's particularly
important in terms of psychology that Prudential comes to market before the end of the year.''
Prudential, which is offering 110 million shares at an estimated price range of $25 to $30 a share, will be the third largest IPO
of 2001, after Kraft Foods Inc.'s (NYSE:KFT - news) $8.7-billion deal and Agere Systems Inc.'s (NYSE:AGRa - news)
$4.1-billion offering.
Insurance IPOs have enjoyed a very positive reception from markets so far in 2001. Insurance stocks that debuted this year
are the second best-performing of 2001 after technology, with a 20-plus percent gain on average from their offering price,
according to research firm Dealogic.
Another insurer is on tap for this week. It is the world's eighth-largest re-insurer Converium Holding AG, which is being spun
off from Zurich Financial Services .
The demand for Prudential is already shaping up strong, bankers said. Three weeks ago, the IPO's lead underwriter, Goldman
Sachs, increased the size of the offering, in a sure sign of strong investors' interest.
``After the positive performance of Anthem and Principal Financial, Goldman Sachs, which managed all three deals, believes
investors still haven't had their fill of new insurance issues,'' said Kyle Huske, an analyst with IPO.com.
By running the books of the Prudential deal and of two other IPOs -- service company Aramark Worldwide Corp. and
network security firm Netscreen Technologies Inc. -- Goldman will end a meager year pocketing fees in the neighborhood of
$150 million.
Other IPOs on the calendar include biotechnology company Northwest Biotherapeutics Inc. and Pentagon contractor United
defense -- the first defense company to brave the public markets in five years.
Gruß Dr. Broemme
