LOS ANGELES, Dec. 31, 2002 (PRIMEZONE) -- IPO Monitor (www.ipomonitor.com) today announced the preliminary version of its 2002 Year-End Review, combining a comprehensive review of the IPO market for this year and a preview of next year.
Available immediately are comprehensive reports and statistics on the IPO Market (http://www.ipomonitor.com/reviews/2002/).
The year's best performing IPO is LeapFrog Enterprises (NYSE:LF), currently trading at $26, up 100 percent from its offering price of $13 per share. The largest IPO of the year was Travelers Property Casualty (NYSE:TPK) raising $3.8 billion in a spin-off from Citigroup. Since going public in March, Travelers is up more than 20 percent.
According to the Report, if the investing public had focused more on investments in new issues, they would have done better than the declines posted by the major market indices. By Dec. 27, the average return for an IPO in 2002 was essentially flat, with just a 0.02 percent decline, while the overall market was significantly down. The Nasdaq Composite, for example, is down more that 30 percent.
On Jan. 6, IPO Monitor will release its annual analysis and commentary. It will be written by Jeffrey R. Hirschkorn, one of the Street's most visible professionals in the marketplace. Hirschkorn covers the overall market, including the evolving market for issuers and investment bankers and the major change in the business practices of the underwriting community.
"Our analysis of the IPO market will focus on providing detailed insight into the new requirements of investors and increased competition for underwriting opportunities," said Jeff Stacey, a managing director of IPO Monitor. "In 2002, the market for new issues saw premium offerings -- with profits -- succeed, while the riskier deals generally suffered."
The full report consists of 10 sections:
-- Overview: annual summary and insightful commentary
from Jeffrey Hirschkorn, a respected IPO market analyst.
-- Top 25: best performers, largest amounts raised and
biggest IPO companies, in terms of current market
valuation.
-- Best & Worst: the best and worst performers, plus charts
to show the performance of the entire market.
-- Deal Flow: a monthly summary of filings, pricings
and withdrawals; providing a distinction between
attempted IPOs (filed registrations), actual IPOs
(pricings) and failures (withdrawn registrations).
-- Underwriters: performance breakdown by lead underwriter.
-- Industry Scorecard: comprehensive listing of IPOs and
statistics for each industry segment.
-- ADRs: a look a foreign companies entering the U.S. equities
market via an IPO of American Depositary Receipts.
-- Comprehensive: a complete listing of all IPOs and related
statistics.
-- Historical: historical statistics, from 1970 through 2000.
-- 2003 Preview: a look at the year ahead.
Report URL: http://www.ipomonitor.com/reviews/2002/
A preliminary version of the report is available immediately, with the analysis and commentary section planned for release on Monday, Jan. 6.
IPO Monitor, based in Los Angeles, is the nation's most comprehensive and timely service for tracking the initial public offering market. IPO Monitor, founded in 1996, has been recognized by Forbes Magazine as among the Internet's best financial sites.