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.
Angie’s List Inc., a website that provides consumer reviews of plumbers, electricians and other services, is preparing to file in August for an initial public offering, said two people with direct knowledge of the plans.
CEO Scott Dorsey says remaining private in the short term allows the company to more easily exploit business opportunities on the horizon.