IPO PipelineWinners and Losers
Arkady Volozh, chief executive of Russian search engine provider Yandex, found his 40 million shares of stock had skyrocketed in value to $1.4 billion at the end of Q2 2011. Volozh's substantial holdings combined with Yandex's solid gains helped him to log the largest stock valuation of CEOs guiding companies through initial public offerings that quarter. Yandex's stock opened at $25 per share and closed the first day at $39, a 56% increase. It finished the quarter 42% higher, at $35 a share.
Happy CEOs
| CEO/ Equivalent | Company | Total Shares (millions) |
Share Price (End of Quarter) |
Total Value (millions) |
| Arkady Volozh | Yandex N.V. | 40.520273 | $35.51 | $1,439 |
| Joseph Chen | Renren Inc. | 90.860323 | $8.85 | $804 |
| Jeffrey (Jeff) Weiner | LinkedIn Corporation | 2.207391 | $90.09 | $199 |
| Brian F. Maxted | Kosmos Energy Ltd. | 10.868515 | $16.98 | $185 |
| Steven F. Udvar-Házy | Air Lease Corporation | 4.550606 | $24.29 | $111 |
| Jonathan S. Wolfson | Solazyme, Inc. | 4.0786 | $22.97 | $94 |
| Brian Sharples | HomeAway, Inc. | 2.166982 | $38.70 | $84 |
| Joseph J. (Joe) Kennedy | Pandora Media, Inc. | 4.229267 | $18.91 | $80 |
| John A. Amster | RPX Corporation | 2.72101 | $28.03 | $76 |
| Haiyan Gong | Jiayuan.com International Ltd. | 6.343465 | $11.43 | $73 |
Money Left On The Table
| Company | Lead Underwriter |
Offer Price |
Pricing Valuation (mil.) |
First Trade Price |
First Trade Valuation (mil.) |
Money on the Table (mil.) |
| Yandex N.V. | Morgan Stanley & Co. Incorporated | $25.00 | 2008.545 | $38.50 | $12,368 | $704.30 |
| LinkedIn Corporation | Morgan Stanley & Co. Incorporated | $45.00 | 650.72 | $83.00 | $7,844 | $297.90 |
| Renren Inc. | Morgan Stanley & Co. International plc | $14.00 | 1035.45 | $19.50 | $1,035 | $292.10 |
| Arcos Dorados Holdings Inc. | Merrill Lynch, Pierce, Fenner & Smith Incorporated | $17.00 | 1311.66 | $21.00 | $2,782 | $249.80 |
| Zipcar, Inc. | Goldman, Sachs & Co. | $18.00 | 290.4 | $30.00 | $1,152 | $116.20 |
| Fusion-io, Inc. | Goldman, Sachs & Co. | $19.00 | 307.5 | $25.00 | $1,945 | $73.80 |
| HomeAway, Inc. | Morgan Stanley & Co. Incorporated | $27.00 | 288.8 | $36.10 | $2,882 | $72.80 |
| 21Vianet Group, Inc. | Morgan Stanley & Co. International plc | $15.00 | 263.38 | $20.26 | $263 | $68.40 |
| Pandora Media, Inc. | Morgan Stanley & Co. Incorporated | $16.00 | 293.6 | $20.00 | $3,195 | $58.70 |
| Kosmos Energy Ltd. | Citigroup Global Markets Inc. | $18.00 | 585 | $19.50 | $7,238 | $45.00 |