From casinos to mac & cheese to a data company with a catchy name, IPO investors have had plenty to choose from so far in 2012. Yesterday's pricings from Acquity Group (AQ) and Edgen Group (EDG) put 2012 on a record pace for activity, with the most US IPO pricings (57) through April since 2000. The pace is 16% ahead of 2011 and appears to be accelerating, with 14 new deals added to the IPO calendar this past week alone. Reflecting the rise in investor interest, the FTSE Renaissance US IPO Index is up 16% year-to-date, compared to 12% for the S&P 500. To-date, US IPOs in 2012 have raised $9.5 billion and produced an average return of 26%.
The clear winner has been the technology industry, producing the most deals (21) and seven of the top 10 performers. Four deals are more than 100% above their offer price, including top overall performer Proto Labs (PRLB), which produces quickturn prototypes and is up 121%.
