IPO Market in Static Flux

Back in early 2001, I was interim editor of a weekly newsletter called The IPO Reporter. It was like trying to fill an XFL pullout section of Sports Illustrated. There are just so many ways to describe inaction.

Today’s IPO market is not quite that bad, but that’s only because we’re still working through all the registration withdrawals. The latest is Forum Oilfield Technologies, which had planned to raise $345 million. McLeod USA also pulled, but it’s not really PE-backed, so we’ll ignore it for peHUB purposes.

So far in 2008, 10 PE-backed or VC-backed companies have withdrawn IPOs, citing some version of “unfavorable market conditions.” There also are about half a dozen more that pulled after agreeing to be acquired (coming soon: Danger). For context, there have only been 11 such companies to file for IPOs in 2008, and just two that have managed to price. In other words, the stable is painfully stable.

Glad The IPO Reporter died off, or else someone else would be stuck trying to write something out of nothing…