Financial services paces IPO market

The IPO market staged something of a rebound this year, and financial services companies led the way. Overall, IPOs gained 24 percent as of early December, compared with a 13 percent gain for the Standard & Poor's 500. The volume of funds raised rose 19 percent. Financial firms provided a lot of the fuel, as 48 deals hit the market. Wow! The New York Mercantile Exchange was among the big winners. Private equity transactions are also playing a huge role. Such firms went public with 77 issues; their average gain was 23 percent. In general, LBOed companies that waited more than a year to issue shares fared better than shorter-term flips. All this bodes well for 2007. The earnings gravy train for top Wall Street banks may yet continue.

For more:
- here's a Business Week article
- Here's an article on the NYSE's IPO fee strategy.