Hoover's Q2 2004 IPO Scorecard Reveals 960% Increase in Number of U.S. IPOs
FOR IMMEDIATE RELEASE
AUSTIN, Texas, July 1, 2004 - Hoover's, Inc., a leading provider of business insight and publisher of Hoover's Online (www.hoovers.com), today announced an almost ten-fold increase (960 percent) in the number of IPOs for Q2 2004 as compared to the number of IPO pricings for Q2 2003. According to Hoover's IPO Scorecard (www.hoovers.com/ipo/scorecard), 53 U.S. companies went public in Q2 2004, raising $8.8 billion. This compares to only five IPOs in Q2 2003, which raised $1.6 billion.
Since Q4 of 2003 there has been a steady increase in the number of IPO pricings and filings, with the second quarter of 2004 marking the third consecutive period of quarter-over-quarter increases.
"It's safe to say that the IPO market has officially recovered," said Justin Burrows, Hoover's money editor. "Momentum is continuing to build and that strong activity provides evidence that a growing number of companies see the IPO market as an attractive source for raising capital."
He added, "Increasing numbers tell a positive story. In addition to the 53 companies that went public in this quarter, another 128 filed to go public, adding significantly to the pipeline of upcoming IPOs." All of this activity marks the most IPO action since Q3 of 2000, when the IPO market was at its peak.
Statistics from Hoover's IPO Scorecard for the second quarter 2004:
- With 26 IPOs, the month of June 2004 was the busiest month for IPO pricings in more than three years, since Q3 2000.
- The average Q2 2004 IPO commanded $166 million, somewhat less than the $217.7 million raised on average in IPOs in Q1 2004. But sheer IPO traffic made up for this difference as Q2 2004 IPO capital raised totaled $8.8 billion, compared to $7.8 billion in Q1.
- Best First-Day Gain: salesforce.com 56%
- Worst First-Day Drop: WCA Waste Corporation -10%
| Offer | Q2 Close | Return | |
|---|---|---|---|
| Blue Nile, Inc. | $20.50 | $37.61 | 83% |
| Santarus, Inc. | $9.00 | $14.75 | 64% |
| salesforce.com, Inc. | $11.00 | $16.07 | 46% |
| Gander Mountain Company | $16.00 | $22.93 | 43% |
| Blackboard Inc. | $14.00 | $20.05 | 43% |
| Intersections Inc. | $17.00 | $23.99 | 41% |
| Shanda Interactive Entertainment Limited | $11.00 | $15.42 | 40% |
| Design Within Reach, Inc. | $12.00 | $16.43 | 37% |
| Momenta Pharmaceuticals, Inc. | $6.50 | $8.85 | 36% |
| Cabela's Incorporated | $20.00 | $26.95 | 35% |
Hoover's provides continuously updated information about thousands of private and public companies worldwide and analyzes the IPO market daily to produce the quarterly IPO Scorecard, a regular wrap-up of IPO activity, released on the IPO Central section of Hoover's Online. Each IPO Scorecard includes an assortment of facts selected by Hoover's editors for those following the IPO market, including the best- and worst-performing IPOs and the biggest one-day jumps and drops in the first day of trading.
About Hoover's, Inc. - The Business Information Authority(sm)
Hoover's, Inc., a subsidiary of D&B, is a leading provider of business information. Hoover's provides authoritative, updated information for sales, marketing, business development, and other professionals who need intelligence on U.S. and global companies, industries, and the people who shape them. This information, along with powerful tools to search, sort, download and integrate the content, is available through Hoover's Online (www.hoovers.com), the company's premier online service. Hoover's business information is also available through corporate intranets and distribution agreements with licensees, as well as via print from Hoover's Business Press. Hoover's is headquartered in Austin, Texas.
Contact
Lisa Glass
Hoover's, Inc.
512-374-4662
lglass@hoovers.com