In a shortened trading week during which four IPOs rescheduled their pricings, three IPOs priced Thursday and all traded up more than 10% in early trading Friday. Two LPs, Delek Logistics (DKL) and Southcross Energy (SXE), which priced at the high end and midpoint of the range, respectively, have seen their stock trade up 11% and 14%.
High-end home furnishings retailer, Restoration Hardware (RH) priced at the high end of the range and is currently trading 33% above its offer price. Restoration stands to have the best first-day pop since Workday’s (WDAY) October 11 offering (+74%) and the 3rd best since Trulia’s (TRLA) September 19 offering (+41%). Restoration is the 15th US-based consumer IPO year-to-date, which in total have produced an average return of 27%.
| Company (Ticker) | Industry | Offer Date | First-day return | Deal Size ($mm) |
|---|---|---|---|---|
| Workday (WDAY) | Technology | Oct-11 | 74% | $637 |
| Trulia (TRLA) | Technology | Sep-19 | 41% | $102 |
| Restoration Hardware (RH) | Consumer | Nov-1 | 33% | $124 |
| Fleetmatics (FLTX) | Technology | Oct-4 | 31% | $133 |
| Intercept Pharma (ICPT) | Health Care | Oct-10 | 29% | $75 |
| Shutterstock (SSTK) | Technology | Oct-10 | 27% | $77 |
| Realogy Holdings (RLGY) | Financial | Oct-10 | 27% | $1,080 |
| KYTHERA (KYTH) | Health Care | Oct-10 | 24% | $70 |
| MPLX (MPLX) | Energy | Oct-25 | 24% | $381 |
| Qualys (QLYS) | Technology | Sep-27 | 18% | $91 |
