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IPO News

9/24/09

Five IPOs began trading today, the most since November 15, 2007, when six IPOs debuted. A123 Systems (AONE), which provides rechargeable lithium-ion batteries and battery systems, priced its offering at $13.50 and was trading up over 40% mid-day, the clear winner of the group. The strong reception from A123 Systems, a venture-backed company that has yet to turn a profit, is welcome news to many VCs and start-ups that have poured lots of money into the alternative energy space.

Julius Baer spin-off Artio Global Investors (ART) priced at $26, the top of its IPO range, and had returned nearly 4% in early trading. Online retailer Vitacost.com (VITC) was hovering around its $12 IPO price, the midpoint of its expected range. Mortgage REITs Apollo Commercial (ARI) and Colony Financial (CLNY), both priced their offerings at $20, after halving their deal sizes on Wednesday, and promptly traded below their IPO price.

Another three IPOs are scheduled to begin trading tomorrow: Mortgage REIT Foursquare Capital (FSQR), specialty hospital operator Select Medical Holdings (SEM), and China?s leading online game company Shanda Games (GAME), which increased its proposed deal size on Wednesday. These three pricings will bring the total number of IPOs in 2009 to 30, easily on pace to top last years volume of 43 deals.