IBJNews

Spate of Indiana firms lines up for IPOs

Back to TopCommentsE-mailPrintBookmark and Share
Year In Review
More
Stories
State's economy stuck
                              in neutral Indictment: Durham looted Fair Finance Ballard cruises to second term City backs string of high-profile projects Manning's injury sends Colts into tailspin Downtown mall stung by loss of Nordstrom Right-to-work battle derails legislative session General Assembly overhauls K-12 education Real estate meltdown leaves developers reeling Spate of Indiana firms lines up for IPOs Rolls-Royce relocated 2,500 jobs to downtown Openings launch new era for tourism biz Patent expirations up pressure on Lilly Las Vegas crash saps IndyCar momentum


Newsmakers
Simon
                              takes on Amazon.com Melangton Daniels White in crosshairs as reformers target IPS

High-profile Hoosier companies raced to go public in 2011, despite the topsy-turvy stock market.

The highest-profile Hoosier initial public offering was staged by Angie’s List Inc., the online provider of consumer reviews. The Indianapolis-based company raised $76 million by selling new shares, and existing stockholders raked in another $31 million by selling some of their holdings.

Investors scarfed up the shares, undeterred by the company’s deep losses and heavy spending on marketing. The stock debuted at $13 and shot as high as $18.75 before retreating to around $16.00

 The other Hoosier company to go public was West Lafayette-based Endocyte Inc., which hopes to bring an ovarian cancer drug to market. The company debuted at $6 a share in February and climbed as high as $14.80 in the summer. However, this month, the stock tumbled more than 60 percent, to $3.76, after clinical trial results showed the company’s ovarian cancer treatment led to shorter survival times than treatment with a standard cancer drug.

Other companies filed papers with the Securities and Exchange Commission to begin the process of going public. Indianapolis-based ExactTarget Inc. disclosed plans to raise $100 million in an IPO.

In addition, Allison Transmission Inc. in March said it planned to raise $750 million. It put an IPO on the back burner when markets soured, but filed papers in November to revive the process.

Pendleton-based Remy International, a maker of electrical components for vehicles, in March filed plans for a $100 million IPO. Company officials are monitoring market conditions before deciding whether to proceed.•

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

ADVERTISEMENT