Fresh off their most prolific year since the turn of the century, IPOs are off to a fast start in 2014.
Five companies have gone public on U.S. exchanges in the first two weeks of the year, putting this month on pace for the second-busiest January for initial public offerings since 2007. Twelve companies went public last January, setting the tone for a year in which 222 IPOs debuted – most since 2000.
After a lull in the first week of 2014, IPOs have picked up again. Here are several recent IPOs from the last week-plus:
- CHC Group (NYSE: HELI): The world’s largest commercial helicopter operator for the offshore oil and gas industry priced well below its expected range. HELI’s IPO debuted at $10 this morning, down significantly from its original expected range of $16 to $18. The company raised $310 million in its IPO.
- EP Energy (NYSE: EPE): Another company involved in the oil and gas industry, this exploration and production company has operations in Texas, Utah and Louisiana. It too opened below its expected range, debuting at $20 a share this morning, well off the expected $23 to $27 range. The company has a 24-year drilling inventory of 5,200 locations across 441,000 acres.
- RSP Permian (NYSE: RSPP): An oil and natural gas exploration and production company that operates in the West Texas Permian Basis. Sensing a theme yet? Unlike the other two oil and gas companies that went public today, RSP Permian’s IPO actually priced within its expected range at $19.50. It’s already up 4.5% in early trading today.
- Cypress Energy Partners (NYSE: CELP): A different kind of energy-related company, Cypress Energy provides environmental and inspection services to oil and natural gas companies. Cypress Energy raised $75 million in its IPO by pricing at $20 a share, the midpoint of its expected range. The stock is already up more than 13% in its first two days of trading.
- GlycoMimetics (Nasdaq: GLYC): The only stock to debut in 2014 that isn’t in the energy sector. GlycoMimetrics is a clinical-stage biotech company developing treatments for sickle cell episodes. The $8 IPO prices was about half its initially expected range, but it did sell 22% more shares than expected. GLYC shares have already risen nearly 30% since their Jan. 13 debut.
Three more IPOs are scheduled to price in the coming days, according to the IPO web site Renaissance Capital. That would bring the month’s tally to eight. Since 2007, only last January had more than eight IPOs.
Until this bull market slows, IPOs in should be alive and well for the foreseeable future.
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