The recent reception for initial public offerings may have flattened, but the ripples from last year's IPO frenzy are still roiling the market.
Published:
7 May 2000 y., Sunday
With the steep decline in the Nasdaq composite index and a general aversion toward new issues, the number of IPOs this month is a fraction of the number from previous months. The number of companies coming off their post-IPO lockups, however, is expected to soar--further putting pressure on stocks. Lockup periods typically last several months and prevent company insiders from unloading shares. This month, lockups will expire on more than 60 companies, including Agilent Technologies, McAfee.com and Vitria Technology. The deluge makes May the second-busiest month this year. An expiration for a lockup is usually set for 180 days after the IPO.
That gives insiders such as company executives and board members, as well as early investors such as venture capitalists and strategic investors, first opportunities to sell stock. Agilent, the closely watched Hewlett-Packard spinoff, will have 380 million shares available for sale May 16, according to the company's prospectus filed with the Securities and Exchange Commission. HP is the holder of those shares, and it has previously indicated that it plans to distribute them to shareholders midyear.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
During the meeting, which took place on 3 September 2009 the Bank of Lithuania approved the transaction, according to which AB Bank SNORAS will acquire 100 percent of the shares of AB “Finasta įmonių finansai” owning AB bank “Finasta”.
more »
The European Commission tabled yesterday its proposal on fishing possibilities for fish stocks in the Baltic Sea for 2010.
more »
Members of the Civil Liberties Committee voiced concern on Thursday over the interim agreement under negotiation between the EU and the United States on data transfers via the SWIFT network.
more »
Consumers in Cyprus, the Czech Republic, Hungary, Poland, Romania and Slovenia now have access to consumer magazines and websites, which provide independent, comparative testing of consumer products, following a three-year EU project co-financed by the European Commission.
more »
Funds management company “SNORAS Asset Management” will establish the first alternative investment fund in Lithuania - “SAM Renewable Energy Fund”.
more »
The re-launched Lisbon Partnership for growth and jobs has put innovation and entrepreneurship at the centre and called for decisive and more coherent action by the Community and the Member States in view of mastering the shift towards knowledge based low carbon economy.
more »
Helping dairy farmers now, as well as restructuring the dairy sector in the long run, is the way out of the current milk market crisis, Agriculture Committee MEPs told Agriculture Commissioner Mariann Fischer Boel in a debate on Tuesday.
more »
The EU is phasing out traditional light bulbs over the next three years in favour of a new generation of energy-efficient lighting.
more »
Lithuania increases the VAT rate from 19 % to 21 % from September 1, 2009.
more »
Two recent joint missions from three development finance institutions helped Thailand identify low carbon projects that could be eligible for Clean Technology Fund financing.
more »