Improved Deal Flow for Q2

For the quarter, 27 IPOs priced for trading, raising a total of $17.1 billion. Of that group, Taser International (ticker: TASR) is excluded from calculation because we don't include unit sales in our aftermarket statistics. That easily bests what investment bankers were able to accomplish during the first quarter. During that period, 19 companies debuted, raising $6.6 billion worldwide.

According to confidential sources, the Kraft IPO was a major spark plug in the second quarter. While it ended the quarter unchanged, the market was able to support the second largest domestic IPO in history. The biggest: $10.6 billion IPO from AT&T Wireless Group (ticker: AWE).

While we witnessed a strong increase in deal flow during the second quarter of 2001, it falls way short of what the world of equity syndication accomplished last year. In the same period, underwriters launched 99 IPOs, totaling $33.6 billion, reports data from The IPO Hardball, a new weekly newsletter available at www.ipodesktop.com. Let's not forget that during last year's second quarter, the dot-com shake out was in full swing. Therefore, many of those deals are probably trading at bankruptcy clearing prices, if not closed already.

Clearly, the most number of IPOs occurred during 1996 when 257 transactions took place, raising $18.9 billion. Still, 2001's issuance pattern wasn't the slowest since 1980. According to IPO Hardball, our worst period for deals came in 1980 when only 24 firm's debuted. However, the worst year since 1980, in terms of dollar volume, happens to be 1982 when a total of $173 million was raised by investment bankers.

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