It was hard to get excited about the IPO market back in August. Following the downgrade of US sovereign debt, the IPO world ground almost completely to a halt. Now, the tide seems to be changing. It isn’t just ‘celebrity’ issuers like Groupon getting love from public investors. Even Clovis Oncology, which isn’t expected to generate any revenues for a few years, was able to pull the trigger.
According to a Wall Street Journal report, ‘The attitude of investors on the IPO circuit has improved vastly since August’.
Says Steven Nasiri, chairman and CEO of InvenSense, which just went public on NYSE yesterday: ‘In the summer, investors were definitely very distracted by the market. When it took a nosedive, it was hard to keep anyone’s concentration’.
He adds: ‘This time around, we found investors were much more focused, and much more comfortable. They have been getting used to the volatility to a degree, and they seemed much more interested and engaged’.