It looks like the 2014 IPO market is holding an “end-of-summer” sale this week. The calendar has 22 new issues expecting to raise $6.7 billion. We have to reach back to 2000 for a busier IPO weekly calendar. This was the week of Sept. 25, 2000. That calendar had 23 new issues expecting to raise $2.95 billion; of this group, 18 got out the door.
Nevertheless, it is somewhat unusual for the IPO market to hold an “end-of-summer” sale. The historical pattern is the calendar fades away by mid-August. That’s vacation time for many of Wall Street’s bankers.
Now back to the present and what makes this week’s IPO surge interesting.
As of the close ...