All about business

NEW YORK — Coming off its worst year in three decades, the market for initial public offerings is starting to show signs of life.

Eight companies are looking to raise as much as $3.7 billion when they go public this week, the most activity the U.S. IPO market has seen in a single week in nearly two years and a clear sign that Wall Street’s appetite for risk is returning.

IPOs all but dried up in 2008 as investors shunned the traditionally risky bets and moved into safer assets like cash and Treasurys as the stock market tumbled.

Only 43 companies completed IPOs in the U.S. last year, down from 272 the year before and 221 in 2006, according to Renaissance Capital’s IPOHome.com. It was the slowest year for IPOs since 1978.
The IPO market has trudged along so far this year, with 22 companies raising $5 billion in capital. This week’s heavy load of offerings could mark a turning point in the market — if all goes well no teletrack payday loans.

"The IPO market has windows that open and close, and right now the window is open to get deals done," said Sal Morreale, an institutional salesman with Cantor Fitzgerald in Los Angeles.

The number of companies preparing to go public has been gaining pace since early July. There are now 89 companies in the IPO pipeline, up from 29 in March.

A123 Systems — Apollo Commercial Real Estate Finance — Artio Global Investors — Foursquare Capital — Colony Financial — Select Medical Holdings — Shanda Games Ltd. — Vitacost.com

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