Groupon Inc.'s successful trading debut on Friday eases the way for bankers to bring more companies public in the coming weeks, and the calendar is indeed filling up with deals, but most aren't going to grab investors' interest at the same level.
团购网站Groupon Inc.上周五的成功上市让银行家可在未来几周推出更多上市交易。实际上，本年度的日程表上已经排满了首次公开募股(IPO)交易，但大多数交易不会像Groupon 这样引起投资者同样浓厚的兴趣。
Groupon's stock rose 31% to $26.11 Friday on the Nasdaq after the daily-deals company increased both its price and the amount of stock it sold in its initial public offering, the first IPO to make a gain after boosting its valuation since July. Market observers said a good performance was necessary to improve confidence among IPO investors.
Groupon上周五在美国纳斯达克(Nasdaq)上市，交易首日便大涨了31%，收报26.11美元。此前，这个每天都有交易进行的公司不仅调高了IPO发行价，也增加了发行量，这是自今年7月以来增加新股发行估值后首个较发行价上涨的IPO。市场观察人士说，一个良好的IPO表现很有必要，可提升IPO投资者的信心。
'I think it was very important that this offering be successful,' said David Schwartz, co-chair of the emerging-companies and venture-capital group with the law firm of Michelman & Robinson in New York. 'This was needed with all the gloom and doom that is going around.'
律师事务所Michelman & Robinson负责新兴公司和风投组织业务的联席主席施沃茨(David Schwartz)说，我认为Groupon成功上市意义重大，在目前悲观情绪浓厚的情况下，我们需要一个成功的IPO。
But that doesn't mean Groupon's shine will carry over to every IPO ahead; investors remain selective about which new stocks they are willing to bet on. That was made clear on Friday, when another offering, for fertilizer company Rentech Nitrogen Partners LP, declined on its first day of trading after pricing at the midpoint of its expected range.
但这并不是说Groupon成功上市的光芒将照耀未来每个IPO。投资者对于自己愿意下注的新股种类仍很挑剔。这一点在上周五表现得很明显：化肥生产商Rentech Nitrogen Partners LP在这一天IPO，但上市首日就出现了下跌。该公司的发行价定在预期范围的中端。
'People are really focused on Groupon now, which can be helpful publicity for the IPO market. But investors will be looking for good performance from a broader group of IPOs than just Groupon in the weeks ahead,' said Carter Mack, president and co-founder of investment bank JMP Group, which wasn't an underwriter on Groupon or Rentech Nitrogen.
投资银行JMP Group总裁与联合创始人麦克(Carter Mack)说，人们现在非常关注Groupon，这对于IPO市场来说可能是有益的宣传，但未来几周投资者会希望更多公司的IPO能有良好表现，而不是Groupon一个。JMP Group没有担任Groupon或Rentech Nitrogen的承销商。
On the calendar now are nine IPOs that have set their pricing terms and started readying for investor presentations. All are seeking to raise less than $200 million. None has the buzz that Groupon generated. They include two early stage biopharmaceutical companies without any product revenue; an energypartnership with declining revenue; and an unprofitable online retailer that targets low- and middle-income consumers with subprime credit scores.
本年度的日程表上目前还有九桩已经设定好价格条件、准备向投资者推介的IPO交易。这些交易的筹资规模都不到2亿美元，也都没有受到Groupon那样的关注。这些准备上市的公司包括两个还处于早期阶段且没有任何产品收入的生物制药公司、一个收入不断下滑的能源合伙公司以及一个没有盈利、目标客户是信用评分较低的中低收入消费者的在线零售商。
Of the group, only two are drawing some interest: data-security software company Imperva Inc., which is aiming to launch Wednesday on the New York Stock Exchange under the symbol IMPV, and local-business-ratings website Angie's List Inc., which is scheduled to begin trading Nov. 17 on the Nasdaq under the symbol ANGI.
在这些公司中，只有两家引起了些许关注，其中一个是计划周三在纽约证券交易所(New York Stock Exchange)以IMPV为股票代码上市的数据安全软件公司Imperva Inc.，另一个是给美国企业评级的网站Angie's List Inc.，按计划将于12月17日在纳斯达克以ANGI股票代码上市交易。
Although Imperva has never been profitable, its customer base includes some of the top five companies in the telecom, U.S. commercial-banking and financial-data-service sectors, and it has decent top-line growth, with revenue in the first nine months of 2011 up 43% from the same period a year earlier, to $55 million. Angie's List, while also unprofitable, is a recognizable consumer Internet brand, and its nine-month revenue was up 46% to $63 million.
虽然Imperva从未实现过盈利，但它的客户群包括电信、美国商业银行和金融数据服务业排名前五的部分公司，而且它有着不错的销售收入增长，今年前九个月的销售收入同比大涨了43%，达到5,500万美元。Angie's List虽然也没有盈利，但却是互联网上的知名消费品牌，今年前九个月的销售收入大涨了46%，至6,300万美元。
Investors' focus could change swiftly if online game developer Zynga Inc. gets around to filing its IPO terms and kicking off a 'roadshow' of investor meetings. That would be considered a prime deal, and it is widely expected to launch before the end of the year. But so far the company hasn't taken the final leap that would put it firmly on buyers' calendars.
如果在线游戏开发商Zynga Inc.开始考虑提交IPO申请并开始向投资者做路演，那么投资者的关注焦点可能会迅速转移。这会被认为是一桩极棒的交易，并且外界普遍预计Zynga会在年底之前上市。但到目前为止，该公司还没有完成最后的"一跃"，此举将使它明确进入买家的日程表。
LYNN COWAN
- amount [ə´maunt]
n.总数；数量 v.合计 (初中英语单词) - performance [pə´fɔ:məns] n.履行；行为；工作 (初中英语单词)
- willing [´wiliŋ] a.情愿的，乐意的 (初中英语单词)
- investment [in´vestmənt] n.投资；(时间等)投入 (初中英语单词)
- energy [´enədʒi] n.活力，精力；能力 (初中英语单词)
- wednesday [´wenzdi] n.星期三 (初中英语单词)
- customer [´kʌstəmə] n.顾客，买主，主顾 (初中英语单词)
- swiftly [´swiftli] ad.迅速地，敏捷地 (初中英语单词)
- firmly [´fə:mli] ad.坚固地，稳定地 (初中英语单词)
- calendar [´kælində] n.日历；月历；历法 (高中英语单词)
- initial [i´niʃəl] a.最初的 n.首字母 (高中英语单词)
- offering [´ɔfəriŋ] n.提供；礼物；捐献 (高中英语单词)
- nitrogen [´naitrədʒən] n.氮 (高中英语单词)
- revenue [´revinju:] n.税收；收入 (高中英语单词)
- partnership [´pɑ:tnəʃip] n.合伙关系 (高中英语单词)
- launch [lɔ:ntʃ] vt.发动 n.发射；汽艇 (高中英语单词)
- symbol [´simbəl] n.符号；象征 (高中英语单词)
- profitable [´prɔfitəbəl] a.有益的；有用的 (高中英语单词)
- decent [´di:sənt] a.体面的，正派的 (高中英语单词)
- consumer [kən´sju:mə] n.消费者；用户 (高中英语单词)
- fertilizer [´fə:tilaizə] n.肥料 (英语四级单词)
- drawing [´drɔ:iŋ] n.画图；制图；图样 (英语四级单词)
- valuation [,vælju´eiʃən] n.估价；价值；重要性 (英语六级单词)
- investor [in´vestə] n.投资者 (英语六级单词)
- unprofitable [ʌn´prɔfitəbl] a.没有利润的；无益的 (英语六级单词)
京公网安备 11011202003401号
