View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 9, 1997updated 05 Sep 2016 1:01pm

US INITIAL PUBLIC OFFERINGS RAISED $6.27BN IN SECOND QUARTER

By CBR Staff Writer

US domestic initial public offerings raised $6.27bn during the second quarter, according to a report issued by IPO Monitor. The number of companies launching IPOs during the quarter slipped to 110, down from a record 250 a year ago, including a significant drop-off for internet firms. Although fewer IPOs were launched in Q2, IPO Monitor notes a trend toward larger offerings with the $6.27bn raised easily eclipsing the total of $5.66bn from last year’s record quarter. Rambus Inc, Mountain View, California developer of high-speed memory chip interface technology, took top honors for the most successful IPO of the quarter (CI No 3,161), climbing 288% from the offering price of $12 to $46.50 on June 30. Other big winners included BEA Systems Inc (CI No 3,139), Sunnyvale, California middleware company, with a 204% increase since offering; LHS Group Inc (CI No 3,114), Atlanta- based provider of client server billing and customer care systems, with a 124% gain; and Objective Communications Inc (CI No 3,136), a Chantilly, Virginia developer of video communications technology, with an increase of 130%. Internet companies saw mixed results, with online computer auctioneer Onsale.com gaining 54%, while highly-touted Amazon.com (CI No 3,162) slumped to finish the quarter at only 2% above the offering price. Peapod Inc, the online grocery store, dropped 30% after a brief surge on the offering (CI No 3,181). For the record, the worst performance of the quarter was seen by Accelgraphics, San Jose-based graphics software developer, whose shares had dropped 54% by June 30.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU