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Investing

All 3 IPOs Go Hot (ET, VNTV, CSTE)

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By Jon C. Ogg Updated Published
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On a day that the broad market is in the red, you might not expect the world of initial public offerings to be too great.  As it turns out, it is.  All three of today’s IPOs are up in their debut trading day.

ExactTarget, Inc. (NYSE: ET) is in on-demand marketing software and its shares priced at $19.00 in an 8.5 million share offering.  Shares are now trading up around $24.75 and there have already been more than 8.6 million shares traded.  It is safe to assume that the overallotment option was exercised.

Vantiv, Inc. (NYSE: VNTV) is a third-party payment processor and it sold more than 29 million shares at $17.00 in the middle of the $16.00 to $18.00 range.  It popped and never looked back.  Shares are trading up at $19.75 on more than 16 million shares.

Caesarstone Ltd. (NASDAQ: CSTE) is a quartz surface pioneer and global leader.  It sold 6 million shares at $11.00.  We have seen only 3.7 million shares trade hands and the stock is up at $11.08 so far today.  Of the IPOs today, this is the least hot of the lot but it is still up on the day.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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