A Blizzard of IPOs as Winter Approaches

Red Herring reports that there is an unusual flurry of IPO activity late in 2004.
“Almost 30 IPOs are on December’s new-issues calendar. That’s right – 30 deals. Bankers hope to raise about $4.2 billion. This projected volume is even more significant when placed against the seasonal backdrop. The December IPO production line traditionally closes down by mid-month.”
And how has this year’s class of IPOs been doing so far? Quite well, according to Wall Street.
“…80 percent of 2004’s IPOs were selling above their initial offering prices.”
This is and indicator of continued good news for the economy for the next year.