IPOVIEW-Faulty week does not signal end of IPO boom

* Half of IPOs this week were pulled

* Market for IPOs is wide open-analyst

* Problems specific to companies, season-analysts

By Clare Baldwin

NEW YORK, Dec 11 (Reuters) - There is nothing wrong with the IPO market that a few quality companies could not cure.

That is what analysts insisted after a week of disappointing offerings that seemed to deflate a budding recovery in the market.

Of the eight IPOs scheduled this week, one was withdrawn after the company was acquired, three were pulled due to bad market conditions, and most of the rest traded lower on their first day, raising questions whether the market for IPOs remains on track for a strong 2010.

Even the best performing IPO for the week -- Pebblebrook Hotel Trust (PEB.N), a real estate investment trust that plans to buy hotels -- rose just 2.2 percent on its first day of trading.

New company stocks have historically risen 10 percent to 12 percent on their first day of trading, with REITs typically showing growth over time.

But if companies with strong balance sheets, a good market position and strong growth opportunities price well and debut, the capital is there, analysts say.

"It's really more company specific than anything else," said Nick Einhorn, a research analyst with Connecticut-based IPO research firm Renaissance Capital. "No deal predicts any other. As tempting as it is to make a broad comment about the IPO market, you can't."

SNAKE VENOM

Analysts also said the companies that scrapped their IPOs entirely probably weren't willing to settle on a low enough price. Those that did price were too risky to trade well.

"If the the deals tanked, they were overpriced. Period," said, South Beach Capital Markets Advisory Corp President Bruce Foerster, who formerly worked as the head of equity capital markets at PaineWebber and the head of the global equity syndicate at Lehman Brothers.

He added that there is tremendous pressure to price offerings as high as possible and market conditions can change in the 6 months to 9 months it takes to bring an offering public.

More than 90 percent of China Nuokang Bio Pharmaceutical Inc's (NKBP.O) revenue in the nine months ended Sept. 30, for example, came from a single blood clotting agent derived from snake venom.

The company sells several other products and plans to use proceeds from its offering for purposes, including research and development, but is still vulnerable, said Nick Einhorn.

China Nuokang's shares sold for less than expected and traded down 3.7 percent in their debut on the Nasdaq.

KAR Auction Services Inc's (KAR.N) reported a total debt load of $2.5 billion compared with total assets of $4.3 billion in the nine months ended Sept. 30, according to a filing with the U.S. Securities and Exchange Commission.

The company also faces uncertain growth prospects if consumers continue to hold off buying cars and trucks.

This year's IPO market is still looking substantially stronger than last year's. There have been 47 offerings so far this year compared with only 30 in all of 2008, according to Thomson Reuters data.

Only 98 IPOs were withdrawn or postponed so far this year compared with 167 last year, according to Thomson Reuters data.

Analysts widely expect 2010 to play host to even more IPOs and they are not sweating this week's cool reception.

Foerster is surprised more companies are not going public.

"The window is open. It's time," said Foerster, adding that there was plenty of cash on the sidelines ready to embrace the right deal. (Reporting by Clare Baldwin; editing by Christian Plumb and Andre Grenon)