Hoover's IPO Scorecard Business Intelligence Reveals Double-Digit Percentage Increase in New Offerings for Q2 2007
Recent business intelligence shows the number of U.S. initial public offerings (IPOs) increased 21% for Q2 2007 compared to the same quarter in 2006. In all, 57 companies went public - making for active IPO activity on the stock exchange.
Austin, Texas (PRWEB) July 6, 2007 -- According to recent business intelligence regarding IPOs (initial public offerings), the number of U.S. IPOs increased 21% for Q2 2007 compared to the same quarter a year ago, as reported today by Hoover's IPO Scorecard. Hoover's, Inc. is a D&B company that gives its customers a competitive edge with insightful information about industries, companies and key decision makers.
In Q2 2007, 57 companies went public on the major U.S. stock exchanges, raising $15.6 billion, compared to the same quarter in 2006 when 47 companies went public, raising $10.4 billion. According to business intelligence from Hoover's IPO Scorecard, so far this year, U.S. IPOs have raised $24.1 billion via 101 deals, up 11% from the January through June 2006 period, when 91 IPOs raised $18.8 billion.
The trend toward more "green" companies going public in the U.S. continues. There were a number of successful Q2 IPOs from companies that produce a variety of clean energy products and alternative fuels. 12% of the 57 Q2 IPO companies fall into this sector, and more than half of these continue to trade above their offer price.
Findings from Hoover's IPO Scorecard for the second quarter 2007:
In the consumer sector, Einstein Noah Restaurant Group (owner of Einstein Bros. Bagels and other food businesses) went public in June. The highly anticipated IPO of theater chain Cinemark Holdings took place in April, but closed down on its first day of trading. It continues to trade below its offer price. Competitor AMC Entertainment formally withdrew its scheduled $750 million IPO from the stock exchange in mid-June.
Cell phone operator MetroPCS Communication went public in April, raising $1.3 billion. The Blackstone Group, a massive private equity firm that owns stakes in more than 40 companies, went public in June; it raised $4.1 billion and became the sixth largest IPO in U.S. history.
"It appears we haven't seen the last of the mega-IPOs," said Tim Walker, Hoover's industry expert. "Following closely behind the multi-billion dollar IPO of private equity giant Blackstone Group, brokerage firm MF Global Ltd. filed in Q2 to go public in a bid to raise $3.7 billion. Cosan Limited, one of the largest growers and processors of sugarcane in the world, also filed its IPO in Q2 in an effort to raise $2 billion. And let's not forget that Visa - the world's largest consumer payment system - is still a potential mega-IPO on the horizon."
Please see the attached table for details about the best first-day gain and worst first-day drop, as well as a list of the top 10 best-returning IPOs for Q2.
Hoover's provides continuously updated business intelligence about millions of private and public companies worldwide and analyzes the IPO market daily to produce the quarterly IPO Scorecard, a regular wrap-up of IPO activity released on the IPO Central section of Hoover's. Each IPO Scorecard includes an assortment of facts selected by Hoover's editors for those following the IPO market, including the best- and worst-performing IPOs, the biggest one-day jumps and drops in the first day of stock exchange trading, and a breakdown of IPOs by industry sector.
About Hoover's, Inc.
Hoover's, a D&B company, gives its customers a competitive edge with insightful business intelligence about industries, companies, and key decision makers. Hoover's provides this up-to-date information for sales, marketing, business development, and other professionals who need intelligence on U.S. and global companies, industries, and the people who lead them. This information, along with powerful tools to search, sort, download and integrate the content, is available through Hoover's premier online service. Hoover's business information is also available through corporate intranets and distribution agreements with licensees, as well as via Hoover's books. The company is headquartered in Austin, Texas.
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