Related News
US companies make risky IPOs
MEAD Johnson Nutrition Co, the largest maker of infant formula, is among five companies seeking to raise as much as US$1.13 billion by selling shares this week in the first United States initial public offering in 2009.
A unit of New York-based Bristol-Myers Squibb Co, Mead Johnson expects to raise as much as US$690 million in the biggest planned offering this week. Madison Square Capital, a real estate investment trust specializing in mortgage securities, is attempting to pull in as much as US$230 million.
This year's initial public offerings are off to the slowest start in at least a decade as investors shun all but the safest securities amid the global recession. No company raised money in New York or London in January, data compiled by Bloomberg News show.
"If raising capital is absolutely critical, those doing it now must be willing to take the risk," said Jackie Kelley, Americas IPO leader at Ernst & Young LLP. "If they do get a good valuation, one that they're looking for, it could spur some additional activity."
The US market for initial offerings slowed to a near-halt in mid-2008. In the first half, 32 companies raised US$28.6 billion - and most of that was the US$19.7 billion IPO of Visa Inc, the payment network. In the second half, five companies raised just US$1 billion.
A unit of New York-based Bristol-Myers Squibb Co, Mead Johnson expects to raise as much as US$690 million in the biggest planned offering this week. Madison Square Capital, a real estate investment trust specializing in mortgage securities, is attempting to pull in as much as US$230 million.
This year's initial public offerings are off to the slowest start in at least a decade as investors shun all but the safest securities amid the global recession. No company raised money in New York or London in January, data compiled by Bloomberg News show.
"If raising capital is absolutely critical, those doing it now must be willing to take the risk," said Jackie Kelley, Americas IPO leader at Ernst & Young LLP. "If they do get a good valuation, one that they're looking for, it could spur some additional activity."
The US market for initial offerings slowed to a near-halt in mid-2008. In the first half, 32 companies raised US$28.6 billion - and most of that was the US$19.7 billion IPO of Visa Inc, the payment network. In the second half, five companies raised just US$1 billion.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.