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Private Briefingwith WILLIAM PATALON III, Executive Editor
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2013 has been a strong year for IPO performance so far.
About 40 deals have been priced through the second week of April, and 33 of the deals have moved higher in the secondary market with an average gain of more than 20%.
If you missed these profits, don't worry. There is no sign of any slowing in the IPO market, as there are currently nine deals already scheduled for the next two weeks. In fact, IPO dollar volumes for the year so far are nearing the $9 billion mark, on par with the levels seen in 2012.
Let's take a look at the biggest and best IPO performances so far in 2013.
First, let's do a sector roundup.
Finance companies represent the largest sector of initial offerings so far this year. Many of the 11 finance companies that have completed an offering are REITs or business development companies, but two banks have also come public as that industry begins to recover from the credit crisis.
Two homebuilders have also completed offerings and trade well in the aftermarket, enjoying improvement in the real estate and homebuilding markets.
Nine healthcare companies have come public this year in the aftermath of the passage of healthcare reform, which has given investors a better picture of industry fundamental prospects.
Technology is always a strong source of new companies and eight tech businesses have had IPOs in 2013.
Many of the year's biggest deals were offered up by private equity firms. Companies including Boise Cascade Co. (NYSE: BCC) and Pinnacle Foods Inc. (NYSE: PF) that were taken private by private equity firms in the past decade returned to the public market. This allowed their PE firms to at least partially cash out their holdings.
So far this year the PE backed deals have done well in aftermarket trading as equity markets have been generally strong. This is a trend most analysts expect to continue as companies like SeaWorld and Bausch and Lomb return to the public markets via a sale by private equity owners.
Now for the year's best performers...
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