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To stay informed about the IPO market, subscribe to Times Have Certainly Changed Days of skyrocketing market debuts and outrageous valuations are a thing of the past. The modern period for initial public offerings is certainly different with investors craving for companies that yield profitability and future prosperity. That's not to say investment bankers haven't tried to circumvent that theory during the first three months of 2002. Over the quarter, underwriters faced the backdrop of an economic recovery and that played an integral role in the pace of IPOs that were brought out to the marketplace. While the numbers are slightly below year ago levels, the idea behind this year's crop of deals was to begin the rebuilding process for better days ahead. For the quarter, investment bankers led 17 deals to market, totaling $9.3 billion, of which the bulk of that was raised through quarter ending deals from Alcon (ticker: ACL), the eye care subsidiary of Nestle SA and the Travelers Property & Casualty (ticker: TAP.a) carve out from Citigroup.
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