Underwriter
(Number Of IPOs As
Lead Or Co-lead Underwriter)
Gross
Proceeds
(M)

Morgan Stanley & Co. (4) $313.4
Merrill Lynch & Co. (3) $217.1
Cowen & Co. (4) $202.0
Piper Jaffray & Co. (3) $185.0
Banc of America Securities (4) $182.9
Deutsche Bank Securities (3) $143.9
Pacific Growth Equities (3) $132.4
CIBC World Markets (3) $124.0
JP Morgan Securities (2) $122.2
UBS Investment Bank (3) $109.4
Bear, Stearns & Co. (1) $44.9
Jefferies & Co. (1) $38.5
First Albany Capital (1) $20.1
Stifel Nicolaus (1) $20.1
Roth Capital Partners (1) $10.2
Sunrise Securities (1) $10.2

* The offerings in this chart include only those that were completed on U.S. stock exchanges from Jan. 1 to Dec. 31, 2006. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed.