It had been a quiet July on the new-offering front until Qlik Tech
Interactive whiteboard maker SMART may have had a nondescript market introduction on Thursday -- currently trading just below its $17 IPO price -- but Friday's debut of Qlik and RealD was greeted by better than 20% pops in each of the technology companies.
Qlik is a business intelligence software company that is both profitable and growing. RealD isn't currently in the black, but its pole position as the leading licensor of 3-D technology being incorporated in more and more multiplex screens makes it a hot play on the box office boom for premium theatrical releases.
For now, Qlik and RealD remain the early winners among the half-dozen companies to go public this young quarter.
Chinese digital mapping specialist AutoNavi
One company went public the following week, Peoples Federal Bancshares
Company |
Offer |
7/19/10 |
Gain |
---|---|---|---|
AutoNavi |
$12.50 |
$13.25 |
6% |
Peoples Federal Bancshares |
$10.00 |
$10.54 |
5% |
Oxford Resources |
$18.50 |
$18.40 |
(1%) |
SMART Tech |
$17.00 |
$16.54 |
(3%) |
RealD |
$16.00 |
$19.85 |
24% |
Qlik Tech |
$10.00 |
$13.05 |
31% |
Source: Yahoo! Finance.
The performances had been mostly uneventful before Friday's tech duo lit up the faces of underwriters and initial investors. The blowout success stories are important in keeping the pipeline of new offerings flowing. If one IPO after another tanks, underwriters have an uphill battle in moving freshly minted stock certificates.
Underwriters should also be encouraged by the bounce in Tesla Motors
There are no debutantes lining up to hit the market this week. This may actually be a good thing, since it lets the success of RealD and Qlik linger, hopefully inspiring other successful offerings during the second half of the year.
What private company would you like to see go public in 2010? Share your answer in the comments box below.