IPOs Break Out of Post¡#45;Holiday Slumber

Wyatt Investment Research

IPOs seemed to take the holidays off, with not a single new listing on a U.S. exchange from December 13 to January 14.

This week, however, initial public offerings were back with a vengeance, with five companies going public.

Here were the five IPOs that debuted this week, in chronological order:

  • USA Compression Partners (USAC): A company that provides natural gas compression services, USA shares aren’t off to the best start. They opened at $18, below their expected $19-to-$21 range. And the stock has already fallen off nearly 3% despite the lower IPO price.
  • CVR Refining (CVRR): Another energy stock that’s struggling a bit in its nascent stages. CVR is a petroleum refinery with operations in Kansas and Oklahoma. Its shares priced at the midpoint of their expected range, but have fallen 0.8% since going public on Monday.
  • SunCoke Energy Partners (SXCP): Producers of a component used in steelmaking, SunCoke’s are down 2.6% since going public at $19 a share yesterday.
  • Norweigan Cruise Line (NCLH): Shares of the third-largest cruise liner in North America are, well…cruising. The stock went public above its expected range at $19 a share yesterday, and is already up 31.5% in its first day of trading.
  • CyrusOne (CONE): A real estate investment trust (REIT) that specializes renting out data centers, CyrusOne shares are up 10.5% from their $19 IPO price.

With one busy IPO week in the books, another may be shaping up next week. According to the website Renaissance Capital, at least two other companies are lined up to go public next week.



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