Investor’s Business Daily writer Amy Reeves, speakes to Manoj George on the IPO forecast for 2012 and his opinion on the environment for companies planning to go public.

1. 2012 IPO Outlook Cloudy After 2011 Goes Out With An Unexpected Whimper - Investo... Page 1 of 3
Streaming Quotes Are
Home Stock Research eIBD News Editorials Education Community Leaderboard Store Enter Symbol/Keyword Get Quote Search Site
Investing Business Economy Technology Management Politics Blogs Special Reports Economic Calendar IBD TV
Registration Benefits
BUSINESS Sponsored by:
IBD Forums
Participate in an IBD Forum and connect
with other IBD subscribers.
IPO Outlook For New Year Uncertain After Rough
2011
By AMY REEVES, INVESTOR'S BUSINESS DAILY
Posted 12/23/2011 02:38 PM ET
The year's last batch of IPOs has gone out, leaving a cloudy forecast Featured Stocks
for 2012.
GM
General Motors
Company
One of 2011's most anticipated new issues, online gaming firm Zynga
GNC *
(ZNGA), priced well Dec. 15 but quickly headed south. A passel of
G N C Holdings Inc
energy IPOs were received tepidly despite the sector's strength.
IMPV
Imperva Inc
"What happened doesn't necessarily give confidence in companies that
are wanting to go public," said Manoj George, CEO of outsourcing firm
Nair & Co. and CFO of Red Hat (RHT) during its IPO. "I've talked to a
couple of companies who have the fundamentals to go public, (but)
* Top-Rated Company
they are looking at 2013 as opposed to 2012."
The news
wasn't all bad. Demand for
Michael Kors (KORS) was so
Sponsored by:
strong that the fashion house
jacked up its IPO size by more Most Popular
than 25% and still rose Dec. 14 in Most Viewed Highest Rated
its first day of trading. And while
All Articles Media
Zynga's debut was
Military Could Be Leaner But Make It Meaner…
underwhelming, tiny Jive Software
(JIVE) also upped its IPO size. On Jobs, Put Up Or Shut Up
That suggested cloud computing is
View Enlarged Image Missing Workers Masking Job Woes
still hot, even where it's
Stocks Suffer Distribution, But Leaders Stay…
unprofitable.
Michelle Obama sees Barack's 'wonderful prog…
Yet overall, it was a tough year from the investor's standpoint. According to IPO research 01/15/2012 05:00:37 PM ET
house Renaissance Capital, 125 companies went public on U.S. markets vs. 154 in 2010.
The average return on the IPO price was -12%. Investing Tip
The year's top new issue is data security company Imperva (IMPV), up 81% from its Nov. 8 Prepare, then pull the trigger at buy points.
IPO at 18. Nutrition store chain GNC Holdings (GNC) has climbed 79% from its March 31
IPO at 16.
Renaissance blames Europe's debt crisis for much of this trouble, and it's not hard to see
why. The early-August market panic led to a two-month stretch of no new issues, the longest
span since the bottom of the recession. The U.S. IPO market has remained at the mercy of
the global economy.
http://news.investors.com/Article/595758/201112231438/ipo-outlook-uncertain-for-2012-z... 1/15/2012

2. 2012 IPO Outlook Cloudy After 2011 Goes Out With An Unexpected Whimper - Investo... Page 2 of 3
"It's very uncertain, given how Zynga and others performed," said Lee Simmons, IPO expert
with Dun & Bradstreet. "Any company considering going public in Q1 is really going to have
to consider wider economic conditions before going out of the gates."
But for companies who do complete IPOs, times are getting more lucrative,
PricewaterhouseCoopers noted. In 2010, some 40% of all U.S. IPO proceeds came from
one deal — General Motors (GM) — with the rest averaging an anemic $150 million.
Excluding GM, proceeds in 2011 were up 53% to $35.4 billion.
"A number of blockbuster IPOs in the last few weeks of 2011 has sparked a renewed
confidence in the U.S. IPO market, which bodes well for 2012," Henri Leveque, leader of
PwC's U.S. Capital Markets Services, said in a statement.
Trading Center
Full Page « « First « Previous Page: 1 2 Next » Last » »
Avg. Rating: (0) Your Rating:
Email Print Comment License IBD Workshops Trade free for 60 days +
Get up to $600 with TD
Ameritrade
Sponsored Links
U.S. Trust's Year-ahead Outlook
Access U.S. Trust's 2012 investment outlook to learn more about investing in the new global economy and
finding opportunity among uncertainty.
www.ustrust.com
Introducing Trade Architect by TD Ameritrade
Trade free for 60 days on Trade Architect. Nothing to download, never a platform or subscription fee.
New from TD Ameritrade! Welcome to better. Analyze Any Stock Free! Free Forex Demo
Planning for Retirement?
$500,000 portfolio? Download the guide by Forbes Columnist Ken Fisher's firm.
www.FisherInvestments.com
$7 online trades
<< Previous Article in Business Next Article in Business >>
See Also
• Vehicle sales slump in China01/13/2012 06:13 PM ET
• Tesla Stock Crashes Friday, Revs Again After Hours01/13/2012 06:04 PM ET
• Equinix, Other Data Centers Expanding As Cloud Rises01/13/2012 02:13 PM ET Practice No Risk Trading at thinkorswim from TD
optionsXpress Ameritrade: Trading
• Several Leaders Offer Setups In Fresh Uptrend01/12/2012 06:08 PM ET technology Rated #1 by
Barron's
• American Axle sees sales up01/11/2012 06:45 PM ET
More Business Articles:
• France Loses AAA As S&P Downgrades Nine Euro Nations01/13/2012 05:33 PM ET • Lessons on Buying Stocks
• Lessons on Selling Stocks
• Biggest Player In The Bakken Shale Expands Its Footprint01/13/2012 04:52 PM ET
• What is CAN SLIM?
• Novartis Joins Pfizer, Merck, AstraZeneca In Layoffs01/13/2012 03:22 PM ET • How to Invest in Options
• Google, GE, Banks Top S&P 100 Earnings Calendar01/13/2012 02:40 PM ET • Investing Education Videos
• Turning Health Fraud To Fodder01/13/2012 02:13 PM ET
Comments No Comments
Leave a comment
Leave a Comment
Back to Top
To participate in Community areas, please Sign In or Register
Stock Research eIBD News IBD Editorials Education Community Leaderboard Store
IBD Charts Investing Editorial Cartoons Daily Stock Analysis Forums Enter Symbol/Keyword Get Quote Search Site
MarketSmith Business Online Courses Meetups
Stock Checkup Economy Ask IBD
http://news.investors.com/Article/595758/201112231438/ipo-outlook-uncertain-for-2012-z... 1/15/2012

3. 2012 IPO Outlook Cloudy After 2011 Goes Out With An Unexpected Whimper - Investo... Page 3 of 3
Screen Center Technology Financial Dictionary
Options Center Management IBD Workshops
ETF Center Politics IBD Home Study
Forex Blogs You Can Do It Too
IBD Indexes Special Reports
Economic Calendar Home | About IBD | Advertising | Contact Us |
IBD TV Classifieds & Partner Offers | Retail Locations | IBD Editorials |
CAN SLIM Advisors
© 2000-2012 Investor's Business Daily, Inc. All rights reserved. Investor's Business Daily, IBD, CAN SLIM and corresponding logos are registered
trademarks of Investor’s Business Daily, Inc. Copyright and Trademark Notice | Privacy Statement | Terms and Conditions of Use
© 2012 William O'Neil + Co. Incorporated. All Rights Reserved. The William O'Neil + Co. Database and all data contained herein are provided by William
O'Neil + Co. Incorporated and are used by IBD under license agreement. Daily Graphs and Daily Graphs Online are trademarks of William O'Neil + Co.
Incorporated or its subsidiaries.
© 2012 MarketSmith, Incorporated. Charts provided by MarketSmith are used by IBD under license agreement. MarketSmith is a registered trademark of
MarketSmith, Incorporated.
Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is
believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time
Services terms. All times are Eastern United States.
http://news.investors.com/Article/595758/201112231438/ipo-outlook-uncertain-for-2012-z... 1/15/2012