January 6, 2009 |
The recession brought the U.S. market for initial public stock offerings to a halt in the fourth quarter, closing the worst year for IPOs since 1977, the National Venture Capital Assn. said Monday. No companies backed by venture capitalists went public in the fourth quarter, and only six staged IPOs in all of 2008, the association said. Emerging businesses also had trouble merging with larger companies, with just 37 venture-backed firms selling themselves in the fourth quarter.
April 8, 2008 |
Digital Domain, one of Hollywood's top special-effects shops, is ramping up its plans to go public. The Venice-based creator of effects for films including "Titanic," "Pirates of the Caribbean: At World's End" and "Transformers," hopes to sell 6 million shares at $12 to $14 each, according to an updated prospectus filed Monday with the Securities and Exchange Commission. The company was bought in May 2006 for a reported $35 million by an investor group that included director Michael Bay. The plans for an initial public offering were first disclosed in December.
December 27, 2007 |
Shares of MRV Communications Inc., a Chatsworth-based maker of fiber optic equipment, rose the most in more than four years after its Source Photonics unit announced plans to raise as much as $130 million in an initial public offering. MRV advanced 44 cents, or 21%, to $2.50, the biggest gain since July 2003. The shares have fallen 29% this year. Source Photonics makes equipment that helps companies offer services such as streaming video and Internet calling.
December 20, 2007 |
NetSuite Inc., a software maker majority-owned by Oracle Corp. Chief Executive Larry Ellison, raised $161.2 million in an initial public offering after increasing the price of the stock three times. The San Mateo, Calif.-based company, whose programs handle accounting and other tasks over the Internet, sold 6.2 million shares for $26 each. The deal's managers can sell 930,000 more shares if there's enough demand.
November 10, 2007 |
Visa, the biggest U.S. credit card network, plans to raise $10 billion in an initial public offering. Visa said it would deposit a portion of the company's proceeds into an escrow account to pay settlements or judgments related to litigation. The offering is expected to be the biggest of the year. Visa is following in the footsteps of rival MasterCard, which has more than quadrupled in market value since it went public in May.
October 31, 2007 |
NetSuite Inc., a software maker controlled by Oracle Corp. founder Larry Ellison that has filed to go public, said Tuesday that Ellison had agreed to reduce his influence at the company. The move addresses concerns that shareholders who invest in the initial public offering would not have had much say in how the company is run, given Ellison's large stake in NetSuite.
October 26, 2007 |
Shares of Pzena Investment Management, which manages assets of $30.6 billion for clients including John Hancock mutual funds, rose 12% in the stock's first day of trading. The stock closed Thursday at $20.09, up $2.09, after climbing to $22.25 earlier in the day. Pzena raised $109.8 million by selling 6.1 million Class A shares at $18 apiece late Wednesday. Insiders retain a controlling stake through Class B stock.
October 12, 2007 |
Virgin Mobile USA Inc. shares rose 5% in their market debut Thursday as concerns about the cellphone service's growth prospects prompted one analyst to give it a "sell" rating. The venture of Sprint Nextel Corp. and Richard Branson's Virgin Group raised $412.5 million in its initial public offering, selling 27.5 million shares for $15 apiece, at the low end of a forecast range of $15 to $17. The stock initially rose 11% to $16.63 before retreating to close at $15.75.
October 10, 2007 |
Yahoo Inc. said Tuesday that it would buy 10% of the shares in the Hong Kong initial public offering of Alibaba.com Ltd., the business-to-business unit of China's biggest online retailer, according to a preliminary document. Alibaba.com Ltd. and parent Alibaba.com Corp. will offer a combined 858.9 million shares in the sale, or a 17% stake in the unit that helps businesses buy and sell products to one another, according to the document. Pricing and allocation of the shares is scheduled for Oct.
September 14, 2007 |
Visa, the nation's largest credit card network, on Thursday got the go-ahead from the Securities and Exchange Commission to move forward with plans to go public. The SEC approved the company's registration statement, filed in June, which outlined a plan to streamline Visa Canada, Visa International and Visa USA into a single company, Visa Inc. The companies now are owned by their member banks.