Monday, 6 Dec 2010
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Of the 32 IPOs this year, 22 are under water, 3 are breaking even and only 7 have made money. This month the $1.3bn Valemus IPO was pulled after the market fell 15.7% between launch and listing

On top of that the general IPO sentiment is still struggling after that fabulous marketing success, the Myer float. Fronted by the gorgeous Jennifer Hawkins it listed last November at 410c. It is now trading at 342c, some 20% below the issue price. At one point it hit 286c, down over 30% delivering a combined loss to its shareholders of over $721m. You wouldn’t worry except that it went almost exclusively to Myer One card holders (customers) and employees. Hardly the best people to upset for the sake of the business. They are still down $395.4m

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