Eight U.S. initial public offerings raised a total of $4.2 billion in October, the best month since June’s 14 IPOs raised $11.4 billion according to CBS MarketWatch, citing data from Dealogic CommScan.
October’s IPOS also gained 15% on average in first-day trades and are still trading an average of 12% above their offering prices. By way of comparison, the year’s average pre-October IPO gained 12& on its first day — and has since fallen 8% below its offering price.
Star performers in October were the $1.7 billion Anthem IPO, trading about 16% above its asking price, and the $1.9 billion IPO from Principal Financial Group, which has gained 22%.
According to the report, there are 53 IPOs in backlog aiming to raise $9.8 billion. Eighteen of those are in the health care arena, hoping to raise $1.6 billion.
– Nevin Adams email@example.com