Indianapolis-based ExactTarget Inc., the e-mail marketing company that counts Microsoft Corp. and Groupon Inc. as customers, gained more than 30 percent in its trading debut Thursday.
Indianapolis-based e-mail marketing company ExactTarget priced shares in its initial public offering above the expected range on Wednesday.
Indianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on the strengthening economy and improving investor appetite for new issues.
Shares of Allison Transmission Holdings Inc. are expected to begin trading Thursday, but the early reaction to the IPO from analysts is lukewarm. The locally based company’s private-equity owners are offering 21.7 million shares for $22 to $24 apiece, which could raise as much as $522 million.
When Allison Transmission Holdings Inc. a year ago filed plans to go public, it said some of the proceeds would go toward reducing billions of dollars in debt. But, in an updated filing with the SEC, the company reversed course, saying all of the more than $500 million that’s expected to be raised would go to its private-equity owners.
Indianapolis-based ExactTarget Inc., which announced an initial public offering in November, said it is seeking to raise as much as $145 million. The company is offering 8.5 million shares for $15 to $17 apiece, according to a regulatory filing made Wednesday.
Indianapolis-based Allison Transmission Holdings Inc., the former parts unit of General Motors Co., is seeking to raise as much as $522 million for its private-equity owners in an initial public offering.
Net income of $103 million last year compares with a profit of $29.6 million in 2010 and a loss of $323.9 million in 2009, according to a document the transmission maker filed Feb. 17 with the Securities and Exchange Commission as part of its planned IPO.
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.
Angie’s List Inc. fell 9.2 percent on Tuesday, dropping below its initial public offering price for the first time and joining a crop of Internet companies that have lost value since their IPOs this year.
The initial public offering price was $13, the high end of the range projected in regulatory filings. That price was more than quadruple the average price of $2.76 paid by prior investors.
Battery Ventures’ investments in Angie’s List Inc. and Groupon Inc. have produced more than $440 million in paper profit after the Internet-commerce companies sold shares to the public this month.
Angie’s List Inc. shares rose as much as 44 percent in their trading debut Thursday after the company raised $114 million Wednesday in its initial public offering. The stock closed the trading day up more than 25 percent, at $16.26 per share, after rising as high as $18.75 early in the morning.
U.S. initial public offerings are set to raise the most in six months in November as Delphi Automotive Plc and Angie’s List Inc. take advantage of the biggest rebound in the Standard & Poor’s 500 Index in 20 years.
Allison Transmission Inc. hasn’t given up on going public, despite nearly eight months passing since its initial filing with the Securities and Exchange Commission.
The Pendleton-based company filed plans in March to raise up to $100 million through an initial public offering.
Consumer review website Angie's List Inc. said Wednesday that it expects to raise roughly $66.4 million with its initial public offering and price its shares between $11 and $13.