Friday quick hits 2: the IPO market begins to surge?
We talked about it earlier this week, and sure enough the dominoes have started falling in the IPO market. Early returns:
- Chemspec International Limited: Ehh.
- Duoyuan Global Water Inc.: Offered at $16/share, opened at $22.65, closed its first day of trading at $21.87. Nice work when you can get it.
- Medidata Solutions, Inc.: Offered at $14, opened at $18, but tapered off into the mid-$16 range. Not bad.
Meanwhile, some in the IPO business are predicting better times ahead. Case in point:
IPO Comeback Starting Now, Cleantech Investors Say
Mind you, in this case “ahead” means “in the next 12 months” rather than “really soon.” My hunch is that the next 12 months is a good range of time to be talking about for a real, steady, sustained flow of IPOs. I think there’s still too much volatility and uncertainty in the markets to expect a real surge within the next few months. We’ll see.
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