Ernst & Young study: IPOs back to pre-recession levels

IPO activity is finally returning to pre-recession levels, according to the quarterly “U.S. IPO Pipeline” study from Ernst & Young as reported by numerous media outlets.
Bruce Bigelow’s recent Xconomy article reported the number of companies in registration for an IPO in the second quarter of 2011 increased to 140, up almost 24 percent from the same quarter last year. While the number of registrants was higher, estimated market valuation was down slightly at $23.7 billion from $25.3 billion in the same quarter of last year. Experts still think the news is good, though, as more IPOs are a key indicators of an improving economy.
socalTECH.com reported California lead IPO filings in the second quarter, with 25 companies in registration.
The Los Angeles Business Journal reported Wesco Aircraft Holdings Inc., Oaktree Capital Group LLC and Ceres Inc. each filed papers during the second quarter to go public, joining TMAC Mortgage Co., Targeted Medical Pharma Inc. and GameFly Inc. in the pipeline.