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Spate of Indiana firms lines up for IPOs

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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.•

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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