Out of the four newly public companies that began trading this week, three have posted strong results.
Ancestry.com (ACOM), a popular website that provides family history information for a subscription-based fee, raised $100 million by offering 7.4 million shares at $13.50, within the expected $12.50 to $14.50 range. The NASDAQ stock was up an impressive 12% on its first day of trading on Thursday and has since traded down approximately 6% in the aftermarket, remaining positive at 6%.
Global brand Hyatt Hotels (H) also began trading yesterday, pricing its 38 million shares at $25.00 (within the expected $23.00 to $26.00 range) and raising $950 million. The NYSE stock posted a first day return of 12%, overcoming concerns regarding the state of the hotel industry and feuding among members of the Pritzker family, which holds 85% of Hyatt stock.
The two debuts were followed by STR Holdings (STRI) and Duoyuan Printing (DYP), both of which began trading today. STR Holdings, which provides solar module encapsulants and quality assurance services for consumer products, offered its 12.3 million shares at $10.00, below its $11.00 to $13.00 (revised from $13.00 to $15.00) range. The NYSE stock has since risen to $10.78 (as of 1:15pm EST).
In comparison, Duoyuan Printing is down approximately 45 cents (5.3%) from its IPO price of $8.50, on the low end of its proposed range of $8.50 to $10.50. The offset printing equipment supplier offered 6.5 million shares and raised $55 million.
Aviv REIT (AVIV) and PlainsCapital (PCB), which were expected to trade on Wednesday and Thursday of this week, respectively, both postponed their deals.
