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Jun 30, 2011

Macroeconomic worries could slow equity capital markets activity

NEW YORK (Reuters) – Nearly 80 percent more has been raised on U.S. equity capital markets this year than in the same period in 2010, but macroeconomic concerns could trigger a slowdown through the rest of the year, bankers say.

So far this year 409 U.S. equity capital markets deals have raised $136.8 billion, up from the 378 deals that raised $76.5 billion a year ago, according to Thomson Reuters data. The data includes all initial public offerings, follow-on share sales and convertible issuance in the United States as of June 29.

Jun 30, 2011

Macroeconomic worries could slow H2 U.S. ECM activity

NEW YORK, June 30 (Reuters) – Nearly 80 percent more has
been raised on U.S. equity capital markets this year than in the
same period in 2010, but macroeconomic concerns could trigger a
slowdown through the rest of the year, bankers say.

So far this year 409 U.S. equity capital markets deals have
raised $136.8 billion, up from the 378 deals that raised $76.5
billion a year ago, according to Thomson Reuters data. The data
includes all initial public offerings, follow-on share sales and
convertible issuance in the United States as of June 29.

Jun 25, 2011

Has Renren suffered enough from China stocks phobia?

NEW YORK, June 24 (Reuters) – Renren Inc (RENN.N: Quote, Profile, Research, Stock Buzz) was hyped
as the “Facebook” of China, a company that had access to the
world’s largest Internet market, and a good way to ride the
buzz surrounding social media IPOs — but investors who
believed the story are nursing big wounds.

In the two months since its IPO, Renren’s stock has lost
more than half of its value. The company and its owners sold
shares at $14 apiece in early May but since then the stock has
sunk to close at just $6.23 on Friday.

Jun 24, 2011

KiOR IPO prices at $15, raises 25 percent less

NEW YORK/BANGALORE (Reuters) – Biofuels maker KiOR Inc (KIOR.O: Quote, Profile, Research, Stock Buzz) priced its initial public offering on Thursday, but raised 25 percent less than expected, the latest company to struggle amid U.S. economic uncertainty.

KiOR, which uses non-food biomass such as wood chips and switch grass to make crude oil, sold 10 million shares for $15 each.

Jun 22, 2011

Hospital owner Vanguard Health in tepid market debut

NEW YORK/CHICAGO, June 22 (Reuters) – Hospital operator
Vanguard Health Systems Inc (VHS.N: Quote, Profile, Research, Stock Buzz) got a tepid reception on
Wall Street, raising less money than planned in its debut and
seeing shares rise only slightly on their first day of trading,
as investors fear a new U.S. recession.

Hospital groups such as Vanguard, controlled by private
equity firm Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), are sensitive to sentiment
about the economy and its impact on patients’ ability to pay
for treatment. Just three months ago, rival hospital operation
HCA Holdings Inc (HCA.N: Quote, Profile, Research, Stock Buzz) turned in a strong debut amid optimism
about a recovery. [ID:nN09291688]

Jun 21, 2011

Vanguard Health IPO prices at $18 — underwriter

NEW YORK, June 21 (Reuters) – Vanguard Health Systems Inc,
controlled by private equity firm Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz),
accelerated the pricing of its initial public offering and
raised less money than planned.

The hospital operator on Tuesday sold 25 million shares for
$18 each, raising about $450 million, an underwriter said.

Jun 17, 2011

Bankrate closes up 2.3 percent in market debut

NEW YORK (Reuters) – Shares of Bankrate Inc (RATE.N: Quote, Profile, Research, Stock Buzz), which publishes personal finance content online, rose in their stock market debut on Friday.

After spending the early part of the day in negative territory, Bankrate shares closed at $15.34, or 2.3 percent above their $15 IPO price in their first day of trading on the New York Stock Exchange.

Jun 17, 2011

IPO View: Profitless Pandora pricks the tech bubble

NEW YORK (Reuters) – It had all the signs of another dotcom bubble: A startup without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut.

The difference this time — one that cost some investors money but provided a measure of relief to anyone worried about an overheated IPO market — is that shares of Pandora Media Inc quickly went south.

Jun 17, 2011

Profitless Pandora pricks the tech bubble

NEW YORK, June 17 (Reuters) – It had all the signs of
another dotcom bubble: A start-up without a convincing business
plan or any foreseeable chance of turning a profit saw its
shares soar in the first hours after its stock market debut.

The difference this time — one that cost some investors
money but provided a measure of relief to anyone worried about
an overheated IPO market — is that shares of Pandora Media Inc
(P.N: Quote, Profile, Research, Stock Buzz) quickly went south.

Jun 16, 2011

Insight: For short sellers of Chinese stocks, it’s time to reap

LOS ANGELES (Reuters) – Two investors who say they have been making big money shorting Chinese stocks listed in the United States, fronted up to their adversaries this week — in a mood to swagger.

At an event in Beverly Hills attended by some of the bankers, auditors, promoters and lawyers who have made a living out of listing Chinese companies on U.S. exchanges, the short sellers were brutal in their assessment of how widespread fraud had become in the sector.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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