Investor Predicts 2-3 IPOs a Week in 2010
This past year has been a lackluster one for public offerings, but David DiPietro, president of Signal Hill, predicts there will be an average of two to three IPOs per week in 2010.
“I think we’re looking at a year where we could have, for the better part of the year, very high-quality companies that have had a year really to get ready to go public, because the market really wasn't there for the last year and a half," he told CNBC.
He predicts the surge in IPOs will be a result of a better marketplace to value dramatically-improved sectors, an improvement in the economy and enormous pent up demand on the part of private equity and venture capital firms.
DiPietro said IPO offerings in 2010 will most likely be in the $500 million to $1 billion range and sees business services, technology and for-profit education being the hottest sectors for public offerings.