initial public offerings (IPOs) trading on American exchanges

Friday, July 1, 2011

IPO filings at fastest pace in 4 years

The number of companies filing to go public is reportedly at the fastest pace this quarter since 2007.

Bloomberg reported Tuesday that at least 720 companies have filed their IPO intentions in the past three months around the world, hoping to raise about $67 billion.

In Silicon Valley the companies that have recently filed include BlueArc Corp , which is hoping to raise up to $100 million, and Ubiquiti Networks Inc. , which hopes to raise up to $200 million.

Feeding the IPO market has been the successful IPO of LinkedIn Corp.(NASDAQ:LNKD) last month, which saw shares that traded on the private market for $14.50 in 2010 sell for as much as $122.50 on its first day of public trading.

There are a number of other high-profile local companies that are expected to file for IPOs, including Facebook Inc. and Zynga Inc.

Despite that, the news service reported that there is skepticism about the IPO climate.
"Despite significant global activity, the market sentiment for deals now is tougher than what we've seen in a while," Frank Maturo, co-head of Americas cash equity capital markets at Bank of America Corp. , told Bloomberg. "We are not seeing the IPO performance that the buy side would like and that is making the IPO market more challenging."

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