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Cross-Market Commentary: 2010 Private Equity- And Venture Capital-Backed IPOs Offer New Equity In 2011
Standard & Poors, May 2011
Abstract
Last year saw a flurry of initial public offerings (IPOs) from companies that had prior backing from either venture capital or private equity firms. Now, some of these companies have returned to the capital markets for another round of financings in the form of follow-on equity offerings. Using Capital IQ data, the Valuation and Risk Strategies (VRS) research team searched for private equity- and venture-backed IPOs that completed offerings last year and have come back to the market for capital this year. This review focuses only on equity follow-ons and excludes debt financings. As indicated in the table below, we determined that companies with private equity or venture capital backing completed 13 new equity offerings last year. In total, these...
Companies mentioned in this report are: NXP B.V.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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