Market Pro: 100 IPOs Before Year-End
Despite the weakness in IPO activity so far this year, David DiPietro, president of Signal Hill, expects at least 100 initial public offerings by the end of 2010.
“I think there is quite a large backlog of very solid companies out there,” he told CNBC.
There were only seven IPOs in January, traditionally a weak month for offerings, but DiPietro estimated there are between 140 and 160 companies that have already filed or are in the process of filing for an IPO.
“The unfiled pipeline is at least as large and may be even larger than what’s already out there,” he added.
Social Networking IPOs
There is a significant amount of hype over possible social networking IPOs, but DiPietro is not convinced they will steal the IPO show in 2010.
When asked, DiPietro said he would expect Facebook to go public before Twitter.
“Twitter has really come on strongly, but I just don’t sense it’s quite as large of a company,” he explained. “There’s no reason to rush these companies out before they’re absolutely ready.”
IPOs of 2010:
Cellu Tissue Holdings
Andatee China Marine Fuel Services
China Electric Motor