December 31, 2008 / 10:53 PM / 11 years ago

FACTBOX-TOP U.S. IPOs of 2008

 Dec 31 (Reuters) - Wednesday’s closing bell ended one of the most difficult years ever for U.S. initial public offerings, as nervous investors avoided stocks of unknown, new companies.
 There were only 29 deals, yielding $26.4 billion in 2008, according to Thomson Reuters data, a dollar volume drop of 43 percent from 2007.
 Had it not been for the blockbuster IPO by credit-card issuer Visa Inc (V.N), the biggest ever in the United States, it would have been the worst year since 1990. As it was, it was the slowest since 2003. For more on the year in IPOs, please see [ID:nN19394595].
 As the year wore on, market conditions worsened. After IPOs from companies such as solar equipment maker GT Solar International Inc SOLR.O and web-hosting company Rackspace Hosting Inc RAX.N, which saw their shares fall as soon as they went public, the IPO market went into a 15-week spell without a deal, its worst drought since the 1970s.
 The IPO by online university operator Grand Canyon Education Inc (LOPE.O) in November broke that streak, though there has not been another since then, and there are currently no others scheduled.
 The markets proved too difficult for many companies, with 110 canceling IPOs they had estimated to raise $17.27 billion, above the 71 deals pulled in 2007.
 Only six IPOs of the 29 in the class of 2008 are still trading above their offer price.
 Here is a list of the 2008 IPOs by U.S. companies that raised at least $50 million and trade on a U.S. exchange, ranked in decreasing size order. Date     Name                   Proceeds  Offer Price  Price Change Over Offer
                             ($mlns)               (12/31)      (PCT) 03/18/08 Visa                    19,650.4     44.00     52.45      +19.2 04/22/08 American Water Works (AWK.N):
                               1,358.2     21.50     20.88      -2.88 04/21/08 Intrepid Potash (IPI.N)  1,104.0     32.00     20.77      -35.1 07/23/08 GT Solar International     500.0     16.50      2.89      -82.5 05/07/08 Colfax Corp (CFX.N)        388.1     18.00     10.39      -42.3 01/17/08 Williams Pipeline Partners LP  (WMB.N):
                                 358.0     20.00     14.17      -29.2 05/08/08 Western Gas Partners LP (WES.N)
                                 343.4     16.50     12.83      -22.2 01/24/08 RiskMetrics Group<RMG.N    281.8     17.50     14.89      -14.9 04/24/08 Hatteras FinancialHTS.N  276.0     24.00     26.60      +10.8 04/24/08 Whiting USA Trust I WHX.N233.6     20.00     10.88      -45.6 05/14/08 American Capital Agency Corp (AGNC.O):
                                 200.0     20.00     21.36       +6.8 06/17/08 RHI Entertainment RHIE.O 189.0     14.00      8.12      -42.0 08/07/08 Rackspace Hosting          187.5     12.50      5.38      -57.0 04/30/08 Pioneer Southwest Energy Partners LP PSE.N:
                                 180.3     19.00     13.70      -27.9 05/14/08 Verso Paper Corp (VRS.N)   168.0     12.00      1.03      -91.4 11/19/08 Grand Canyon Education Inc 144.9     12.00     18.78      +56.5 06/11/08 Fifth Street Finance Corp FSC.N:
                                 141.2     14.12      7.55      -46.5 07/01/08 Energy Recovery (ERII.O)   136.9      8.50      7.58      -10.8 01/25/08 IPC The HospitalistIPCM.O 83.2     16.00     16.83       +5.2 03/18/08 CardioNet Inc   (BEAT.O)    82.8     18.00     24.65      +36.9 02/14/08 ArcSight Inc ARST.O       61.8      9.00      8.01      -11.0 05/08/08 Real Goods Solar  RSOL.O  55.0     10.00      3.65      -63.5 02/14/08 MAKO Surgical Corp MAKO.O 51.0     10.00      6.68      -33.2
 Source: Thomson Reuters data as of close of markets, Dec. 31, 2008.  (Reporting by Phil Wahba)   

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