Stock exchanges are finally starting to crank out birth announcements at brisk rates.
Seven companies managed to successfully complete their IPOs last week, a welcome break from the period between mid-May and late-June when there wasn't a single debutante on parade.
This new week also promises to be exciting. Legal-documents provider LegalZoom.com, marketing software specialist Eloqua, and spinal device maker Globus Medical are all slated to go public this week if the market conditions hold up, but let's take a look at last week's incoming class of freshmen.
|
Company |
IPO |
Closing Price on July 27 |
Gain |
|---|---|---|---|
| AmREIT | $14 | $14.02 | 0% |
| Del Frisco's (Nasdaq: DFRG) | $13 | $13.00 | 0% |
| E2open (Nasdaq: EOPN) | $15 | $13.50 | (10%) |
| Hyperion Therapeutics | $10 | $10.20 | 2% |
| Northern Tier Energy (NYSE: NTI) | $14 | $14.65 | 5% |
| Natural Grocers (Nasdaq: NGVC) | $15 | $19.90 | 33% |
| Chuy's (Nasdaq: CHUY) | $13 | $17.12 | 14% |
Source: The Wall Street Journal.
AmREIT is a Maryland-based REIT specializing in retail and mixed-use properties.
Del Frisco's runs a growing upscale steak house concept under the Del Frisco's and Sullivan's monikers. There are 32 chophouses open now, and the company plans to add three to five new locations a year. Del Frisco's was originally set to go public as high as $16, but had to settle for $13 a share.
E2open provides cloud-based enterprise solutions for global trading networks.
Hyperion is a fledgling biotech focusing on orphan diseases and hepatology.
Northern Tier Energy is an oil refiner structured as a variable-pay master limited partnership.
Natural Grocers couldn't have timed its debut any better. The growing chain of health food stores went public during the same week that the country's leading organic retailer delivered blowout quarterly results.
Chuy's runs a chain of Tex-Mex casual dining restaurants. It has three dozen locations.
The seven companies may not be off to blazing starts outside of the double-digit gains by Chuy's and Natural Grocers, but it's telling that just one of the debutantes -- E2open -- closed out the week below its IPO price. Sure, companies like Del Frisco's had to price below their initial pricing ranges, but at least the market's appetite for new issues is starting to come around again.
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