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Initial Public Stock Offering Article
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1998 Initial Public Offering: Noted to be an IPOmania for Internet-based Companies
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The year 1998 is just a common year on the Gregorian calendar aside from being the year of the Gemini or the Twins. However, there are various significant events happened during this year.
In this year of January 6 when the Lunar Prospector (a mission selected by the National Aeronautics and Space Administration for full construction and development as part of the Discovery Program and designed for low polar orbit investigation on the moon) spacecraft was launched into the Moon’s orbit, and later on found out that there are evidences of frozen water in the Moon’s poles. It was also this year of January 8 when Ramzi Yousef, the prime suspect in World Trade Center bombing was sentenced to life imprisonment. It was also the same year of February when the U.S. Senate passed Resolution 71 which urged then U.S. President Bill Clinton to take all necessary actions in response to the threat posed by Iraq’s refusal to end its WMDP (weapons of mass destruction program).
And who would ever forget the discovery of the White House scandal wherein then U.S. President Bill Clinton have discreet relationship with former White House intern Monica Lewinsky that has captured the attention of the international community? The year 1998 is full of events that everybody would not forget.
And it is also the year when various Internet companies go IPOmania!
The Internet technology had its growth in 1998, both in terms of usage and sophistication of the features it offered to the public. It brought out promises to the general public that it would change the way they lived. In the same manner, it also brought a promise to the business community that it would change the way investors would conduct business and could generate huge profits.
And it became true. Google, Inc., which is the largest search engine company on the Internet, launched its first search services in 1998. It is also the same year when online auctioneer eBay went public in September 1998.
Initial public offering (IPO) in 1998 was noted to be one of the most remarkable performances of the IPO market. According to the statistics of the U.S. Securities and Exchange Commission (SEC), there are about 370 IPO registrants in this year and it generated total revenues of $44.8 billion, making it one of the remarkable years in the IPO market. Out of this number of IPO registrants, 25 are Internet-based companies. Some of them are as follows:
• 24/7 Media- when it went public in August 14, 1998, its initial IPO price is $14 per common share. After its closing, per common share’s value increased to $25.88 or a change of 84.82 percent.
• Broadcast.com- when it went public on July 17, 1998, its initial IPO price is $18 per common share. After its closing, per common share’s value increased to $71 or a change of 294.44 percent.
• Broadcom- when it went public in April 17, 1998, its initial IPO price is $24 per common share. After its closing, per common share’s value increased to $112 or a change of 366.67 percent.
• eBay- when it went public in September 24, 1998, its initial IPO price is $18 per common share. After its closing, per common share’s value increased to $252.25 or a change of 1,301.39 percent.
• Geocities- when it went public in August 11, 1998, its initial IPO price is $17 per common share. After its closing, per common share’s value increased to $37.88 or a change of 122.79 percent.
What else can you say? The year 1998 is noted to be an IPOmania for Internet-based companies. Huge revenues and successful business operation-- that is how initial public offering works for a company.
Initial Public Stock Offering Specific links
Initial Public Stock Offering News
Grand Canyon Education, Inc. Announces Pricing of Initial Public ... - MarketWatch
 The Money Times | Grand Canyon Education, Inc. Announces Pricing of Initial Public ... MarketWatch - ... via COMTEX/ -- Grand Canyon Education, Inc. today announced the initial public offering of 10500000 shares of its common stock at $12.00 per share. ... Grand Canyon stock holds up in its IPO IPO VIEW-End of one IPO drought, start of new one? Grand Canyon Brings Tepid End To 15-Week-Long IPO Drought |
Argentine Stocks Fall as Biggest Shareholders Seized (Update5) - Bloomberg
Argentine Stocks Fall as Biggest Shareholders Seized (Update5) Bloomberg - His company, which raised about $100 million in an initial public offering in May, probably will be the last IPO for “a long time,” he said. |
Target rejects Pershing's real estate proposal - Reuters
Target rejects Pershing's real estate proposal Reuters - He proposed on Wednesday that Target spin off 20 percent of the REIT in an initial public offering and use the money from the public offering to pay down ... Target says it won't pursue Pershing Square deal Target decides not to pursue Pershing Square Capital's Real Estate ... |
Territorial Savings parent to go public - Honolulu Star-Bulletin
Territorial Savings parent to go public Honolulu Star-Bulletin, HI - 30, 2007, get first priority in the initial subscription stock offering, followed by Territorial Savings Bank and Territorial Bancorp's tax-qualified plans, ... Territorial Savings Bank to go public Territorial Savings' parent company to go public |
US Stocks Plunge, Sending S&P to Lowest Level Since 1997 - Bloomberg
 China Daily | US Stocks Plunge, Sending S&P to Lowest Level Since 1997 Bloomberg - Goldman Sachs Group Inc., once the biggest and most profitable US securities firm, fell below its initial public offering price of $53, wiping out 10 years ... New Indexes Of Condo Prices To Launch Dow slumps below 8000 US Stocks Slide to Five-Year Lows as Banks, Carmakers Tumble |