Today represents the end of Q3 2006, which means that its time for a quick look back on the quarters PE-backed IPO activity. Buyout-backed offerings bested VC-backed offerings in terms of both volume and total raised (see chart below), but LBO-backed companies were not so fortunate in the aftermarket.
The average aftermarket performance for VC-backed IPOs was 22.73%, as of yesterdays market close, with all but one company trading above its IPO offering price. This compares to a paltry 1.07% for the buyout-backed crowd, which had only two companies above IPO offering price (plus one at break-even). It also is important to note that the below totals include two companies that priced yesterday Shutterfly (VC) and Bare Escentuals (BUY) and that neither of them, therefore, are included in the aftermarket calculations.
|Quarter||VC-Backed IPOs||Total Raised|