IPO Market Heating Up Again

Markets Technology Stocks
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After three weeks of inactivity, the IPO hopper is again filling up. In the wake of a November in which 16 companies went public, 14 more are set to price in the next two weeks alone.

Memorial Production (Nasdaq: MEMP) and Rose Rock (NYSE: RRMS) kicked off the busy fortnight by holding their initial public offerings yesterday. Twelve more IPOs are scheduled to hit the market next week.

Zynga (Nasdaq: ZNGA) is most prominent among them. The online games giant hopes to raise $900 million on a stock expected to price between $9 and $10 a share. By pricing their shares so modestly, Zynga is hoping to avoid the fate its fellow technology stocks Groupon (Nasdaq: GRPN) and Pandora (NYSE: P) suffered. Those companies’ stock prices fell sharply after their overhyped IPOs generated a lot of early buzz.

Michael Kors Holdings (NYSE: KORS) is another noteworthy company set to hold its IPO next week. The luxury fashion design house named for its founder plans to sell 41.7 million shares at a price range of $17-$19. With its revenue in fiscal 2011 up 58% from last year and the luxury sector enjoying a mini-boom at the moment, Michael Kors is hoping to capitalize during the busy holiday shopping season.

Other IPOs set to debut next week:

  • Laredo Petroleum (NYSE: LPI): The Tulsa, Oklahoma-based energy firm that focuses on oil and natural gas production plans to raise $333 million by offering 17.5 million shares at a price range between $14 and $20.The five-year-old company reported $456 million in sales for the 12 months that ended September 30.
  • Jive Software (Nasdaq: JIVE): The tech company that provides a social networking platform for enterprises plans to sell 11.7 million shares at an $8-$10 price range. The California-based company was founded in 2001.
  • FusionStorm Global (Nasdaq: FSTM): Another tech company that offers IT solutions to enterprises. Based in Massachusetts, FusionStorm Global plans to raise $175 million by offering 13.5 million shares at a $12-$14 price range. The two-year-old company booked $775 million in sales in the last year.

For a full list of upcoming IPOs, visit Renaissance Capital’s IPO Home web page.

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