Austin company's IPO ranks high on Q3 global list

Oct 1, 2013
Austin Business Journal

The successful initial public offering by Austin's RetailMeNot Inc. (Nasdaq: SALE) ranked among the top 10 best-performing IPOs in the world during the third quarter, a new report shows

The Austin-based online coupon supplier completed its IPO in July, raising $191 million, but saw its share price gain 71 percent during the quarter from its issue price of $21. That put RetailMeNot with the sixth-highest percentage share gain among all global IPOs in the quarter, the report from Greenwich, Conn.-based Renaissance Capital shows. RetailMeNot shares closed Monday at $35.57

Sprouts Farmers Market Inc. (Nasdaq: SFM) had the highest percentage gain of all global IPOs in the third quarter, the report said, with a 151 percent hike over its issue price for the Phoenix-based specialty grocer. Technology and health care IPO share returns were particularly robust during the quarter, the report said

Natural gas exploration company Jones Energy Inc. (NYSE: JONE) was the other Austin-area company to stage an IPO during the third quarter. Its shares fell 8 percent on its opening day of trading, but have since moved above the $15 issue price. The shares closed at $16.41 on Monday

Sparked by a surge in IPOs by U.S. companies, the number of global IPOs jumped from 34 in the third quarter of 2012 to 61 in the third quarter this year, a gain of 79 percent year-over-year. However, the total proceeds raised during the third quarter dropped to $19 billion from $21 billion for the year-earlier period

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