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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. Why should I a home owner pay for this"car sharing" ????

  2. By the way, the right to work law is intended to prevent forced union membership, not as a way to keep workers in bondage as you make it sound, Italiano. If union leadership would spend all of their funding on the workers, who they are supposed to be representing, instead of trying to buy political favor and living lavish lifestyles as a result of the forced membership, this law would never had been necessary.

  3. Unions once served a noble purpose before greed and apathy took over. Now most unions are just as bad or even worse than the ills they sought to correct. I don't believe I have seen a positive comment posted by you. If you don't like the way things are done here, why do you live here? It would seem a more liberal environment like New York or California would suit you better?

  4. just to clear it up... Straight No Chaser is an a capella group that formed at IU. They've toured nationally typically doing a capella arangements of everything from Old Songbook Standards to current hits on the radio.

  5. This surprises you? Mayor Marine pulled the same crap whenhe levered the assets of the water co up by half a billion $$$ then he created his GRAFTER PROGRAM called REBUILDINDY. That program did not do anything for the Ratepayors Water Infrastructure Assets except encumber them and FORCE invitable higher water and sewer rates on Ratepayors to cover debt coverage on the dough he stole FROM THE PUBLIC TRUST. The guy is morally bankrupt to the average taxpayer and Ratepayor.

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