KAALtv.com

News Summary: IPO market revs up in 4th quarter

Updated at: 10/11/2012 4:35 PM
By The Associated Press

SIGNS OF LIFE: After a string of disappointing debuts, the IPO market showed signs of life Thursday, with shares of four newly public companies each shooting up more than 20 percent in their first day of trading.

DIVERSE BUNCH: The companies that went public included Realogy, the owner of realty firms Century 21, Coldwell Banker and Corcoran Group; online stock photo provider Shutterstock; Kythera, a developer of shots to treat double chins; and Intercept Pharmaceuticals, which makes drugs for liver diseases.

GOOD START? Thursday’s action bodes well for the IPO market overall, said securities lawyer Thomas Murphy.

(Copyright 2012 by The Associated Press. All Rights Reserved.)