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2013 IPOs Leaders and Laggards Reverse Course in 2014

Volatility is sometime characteristic for some initial public offerings as share prices for newly minted issues fluctuate as investors attempt to understand their operations and performance. Of keen interest for the Global Markets Intelligence (GMI) research unit of S&P Capital IQ is the follow-up performance of big winners and laggards among IPOs as sometimes a fast moving IPOs can at times stumble while trailing isues may recover over time. One particular observation we found is how the crop of leaders and laggards in 2013 traded last year. As shown below, the top ten leaders among the class of 2013 IPOs fared poorly in 2014 as only one issue – Emerge Energy Services LP – saw a gain. Alternatively, of the ten largest percentage laggards among 2013 IPOs, half gained ground last year which thanks to a better than 300% gain by biotechnology firm Prosena Holding NV (the company agreed to be acquired by BioMarin Pharmaceutical Inc. in a $847 million deal announced in November) the average gain for 2013’s top ten IPO laggards during 2014 was 15.05%.

Given these developments, we have included below a list of 2014’s IPO leaders and laggards. We look forward to how the year unfolds as to whether last year’s IPO laggards can reverse course and whether 2014’s winners can continue to gain ground.

2013 IPO Leaders and 2014 Performance

Source: S&P Capital IQ

2013 IPO Laggards and 2014 Performance

Source: S&P Capital IQ

2014 IPO Leaders

Source: S&P Capital IQ

2014 IPO Laggards

Source: S&P Capital IQ

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