Five IPOs are making their market debuts today, ending a drought of more than a month in the IPO market.
So far the newbies are making themselves right at home.
All five initial public offerings were up as of 2:30 p.m. eastern.
Trulia (NYSE: TRLA), a popular online real estate listing service, is leading the way. The stock is up an amazing 47% in its first day of trading after raising $102 million in their IPO. Trulia’s IPO price was $17 a share, above its expected range of $14 to $16 a share. So the stock’s upward move despite opening with a more expensive share price than expected is an encouraging sign for both the stock and IPO market as a whole.
The performance of today’s other IPOs has also been encouraging. Here’s how the four of them have performed thus far:
- Capital Bank Financial (NYSE: CBF): The stock is only up slightly from its $18 IPO price, which was below its expected $21-$23 range. The Southeastern U.S. bank raised $180 million by offering 10 million shares
- National Bank Holdings (NYSE: NBHC): Shares of the Midwest bank have posted modest 2.5% gains from its $19.25 IPO price. However, that price was below its expected range of $20-$22 a share.
- Spirit Realty Capital (NYSE: SRC): An REIT that provides net leases on retail and restaurant properties, the company raised $435 million by offering 29 million shares at $15 a pop. The stock is up only slightly in its first day of trading, to $15.13 a share.
- Susser Petroleum Partners (NYSE: SUSP): The motor fuels distributor’s IPO priced at $20.50 a share, towards the high end of its expected range. The stock is up roughly 1% thus far.