We went almost two months without an IPO, and today Ubiquiti Networks ends that drought. Many companies postponed their offerings, with some canceling them altogether, so it’s a bold step for this wireless-networking company to actually jump into the fray. How did its IPO compare with others before the market jitters began?
Despite pricing at $15, the low end of its $15-$17 range, it still garnered a decent 16% growth, which places it comfortably above the 2011 1st Day Average of 12.59%. That also puts it in the small group of 2011 IPOs that are actually growing and not underwater. We’ll see if it can hold on to this growth in the coming months.
While it didn’t set any records, Ubiquiti enters the 2011 class with a solid IPO, even in a tumultuous market. Perhaps that’s why medical device maker Zeltiq is hoping to follow up with an IPO next week.