San Fernando Valley benefits from increased IPO activity

Judging from the recent initial public offerings of companies like Wesco Aircraft Holdings, Ceres Inc., Inphi Corp. and ReachLocal in the past year, companies in the greater San Fernando Valley are thriving. The region’s IPOs are part of a larger state trend, according to the story “IPOs Raise Region’s Profile” from the August 15 issue of the San Fernando Valley Business Journal.
California is leading the nation with the number of companies preparing for an IPO, with 25 of the nation’s 140.
“From an economic standpoint, an IPO is great for job growth and successful IPO companies stay independent and support jobs,” Mark Sogomian, Ernst & Young’s IPO leader for the West Coast, told the business journal. “There is also an indirect impact in that an active IPO market sends a message of increased confidence in the economy, which has an impact on the larger business community.”
The second-quarter IPO Pipeline study by Ernst & Young LLP reported that the technology sector was the most active, followed by oil and gas, banking and finance and industrial products.