Random Ramblings
Today represents the end of Q3 2006, which means that it's time for a quick look back on the quarter's PE-backed IPO activity. Buyout-backed offerings bested VC-backed offerings in terms of both volume and total raised (see chart below), but LBO-backed companies were not so fortunate in the aftermarket.
The average aftermarket performance for VC-backed IPOs was 22.73%, as of yesterday's market close, with all but one company trading above its IPO offering price. This compares to a paltry 1.07% for the buyout-backed crowd, which had only two companies above IPO offering price (plus one at break-even). It also is important to note that the below totals include two companies that priced yesterday – Shutterfly (VC) and Bare Escentuals (BUY) – and that neither of them, therefore, are included in the aftermarket calculations.
Quarter VC-Backed IPOs Total Raised Q3 2005 19 $1.46 billion Q4 2005 17 $1.57 billion Q1 2006 10 $540.82 million Q2 2006 19 $2.01 billion Q3 2006 8 $934 million Quarter Buyout-Backed IPOs Total Raised Q3 2005 23 $4.7 billion Q4 2005 10 $1.38 billion Q1 2006 17 $4.37 billion Q2 2006 17 $4.37 billion Q3 2006 9 $2.5 billion
Friday, September 29, 2006
Harbinger of good times?
PE wire reports on performance of recent VC's backed IPO's...
