Underwriter (Number of Offerings As Lead/Number of Offerings As Lead Or Co-manager)

After-Market Performance (Average)

William Blair & Co. (0/2)

+155%

Credit Suisse First Boston (4/8)

+155%

Salomon Smith Barney (3/7)

+146%

Lazard Freres & Co. (0/2)

+119%

CIBC World Markets (4/10)

+93%

ING Barings LLC (3/10)

+74%

Prudential Vector Healthcare Group (2/14)

+71%

Stephens Inc. (0/2)

+70%

Fidelity Capital Markets (0/3)

+68%

Pacific Growth Equities Inc. (0/9)

+65%

KBC Securities (0/1)

+63%

S.G. Cowen Securities Corp. (2/15)

+63%

Chase H&Q (6/28)

+57%

Bear, Stearns & Co. Inc. (2/6)

+56%

Lehman Brothers Inc. (7/18)

+54%

Goldman, Sachs & Co. (5/6)

+52%

U.S. Bancorp Piper Jaffray (1/13)

+52%

J.P. Morgan & Co. (8/11)

+51%

Punk Ziegel & Co. (0/1)

+51%

Thomas Weisel Partners LLC (1/4)

+51%

First Security Van Kasper (1/1)

+50%

Robertson Stephens Inc. (8/17)

+50%

Legg Mason Wood Walker (0/1)

+46%

Gruntal & Co. LLC (0/2)

+45%

Merrill Lynch & Co. (4/6)

+43%

Sanders Morris Harris (0/1)

+41%

Morgan Stanley Dean Witter Inc. (6/6)

+37%

Deutsche Banc Alex. Brown (6/9)

+37%

UBS Warburg/ Warburg Dillon Read LLC (10/24)

+34%

DLJ Direct Inc. (0/2)

+34%

Donaldson, Lufkin & Jenrette (2/2)

+34%

Robert W. Baird & Co. (0/2)

+34%

Roth Capital Partners Inc. (1/2)

+33%

Invemed Associates (0/4)

+32%

PaineWebber Inc. (2/4)

+29%

First Colonial Securities Inc. (0/1)

+27%

I-Bankers Securities Inc. (0/1)

+27%

Paulson Investment Co. (1/1)

+27%

Bank of America Securities (2/4)

+26%

A.G. Edwards & Sons Inc. (0/1)

+23%

Dain, Rauscher Wessels (0/6)

+21%

Tucker Anthony Cleary Gull/T.A. Inc. (0/2)

+21%

Neidiger Tucker Bruner Inc. (1/1)

+19%

Westport Resources Investment Services Inc. (0/1)

+19%

Aragon Securities AB (0/1)

+11%

Adams, Harkness & Hill (0/5)

+3%

Wit SoundView (0/1)

-4%

First Union Securities Inc. (0/3)

-16%

Nomura International (0/1)

-21%

Gerard Klauer Mattison & Co. (0/1)

-37%

Bank Vontobel (1/1)

N/A

* The offerings in this chart include only those that were completed on U.S. stock exchanges (NASDAQ, NYSE or AMEX) from January - August 2000. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed.

# after-market performance is expressed as the percent change in stock price between the offering price and the closing price on 8/31/00. For underwriters with multiple offerings, the after-market performance (as a percent change) was calculated for each stock in that underwriter's "group," the percentage summed, and then averaged.

No Comments