There won't be any IPOs hitting the market this week.
May will come to a quiet close, and rightfully so. Facebook's ballyhooed debut two weeks ago has turned into an IPO bust.
Earlier this month, prospective debutantes simply wanted to get out of Facebook's way. Just as movie studios tend to move releases away from obvious blockbusters, underwriters steered companies away from the path of the world's leading social-networking website operator.
There were only nine companies to go public on stateside exchanges outside of Facebook. In news that may come as a welcome surprise, five of them are trading well above their IPO prices.
|
Company |
IPO |
Price on May 25, 2012 |
Gain |
|---|---|---|---|
| Ignite (NYSE: IRG) | $14 | $17.94 | 28% |
| Audience (Nasdaq: ADNC) | $17 | $19.10 | 12% |
| WageWorks (Nasdaq: WAGE) | $9 | $10.88 | 21% |
| Tilly's (Nasdaq: TLYS) | $15.50 | $17.40 | 4% |
| EverBank Financial (Nasdaq: EVER) | $10 | $11.20 | 12% |
Source: Dealogic.
Ignite Restaurant Group is the parent company of two fast-growing eatery concepts. There are now 135 Joe's Crab Shack restaurants and 33 Brick House Tavern + Tap locations.
Audience is the company behind the earSmart intelligent voice processors, providing intelligent voice and audio solutions that improve voice quality and the user experience of mobile devices.
WageWorks offers a cloud-based enterprise platform for administering employee benefits.
Tilly's is a retail chain with 145 stores selling clothing, footwear, and accessories with a West Coast-inspired theme.
EverBank Financial is a Florida-based banker that's routinely atop lists of highest-yielding accounts. It went on to report its first quarter as a public company shortly after its IPO. Adjusted earnings and deposits rose reasonably for the period.
In the end, Facebook may be the name grabbing all of the headlines, but there are a handful of companies grabbing all of the gains.
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