Among the many highlights:
- 188 firms went public in the US in 2004.
- The firms raised nearly $33 Billion
- The firms left about $3.9 Billion (about 11.7%) "on the table"
- For the first time since 2000 a IPO doubled in value on the first day of trading. (Jed Oil) (table 5--which is fascinating--look at 1999 and 2000)
- The spreads stayed very close to 7% AGAIN (table 9)
BTW this link only has the tables, there is very little "paper" but that said, Mr. IPO does his usual fantastic job on IPOs. (stay tuned for more of his research)
More of Jay Ritter's working papers can be found on his web site.