Poll Swings and Misses on IPOs - TheStreet

Poll Swings and Misses on IPOs

In a disappointing week for IPOs, TheStreet users miss the mark in attempting to peg the most successful deal.
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) -- What was the most successful initial public offering of the week? Not what the readers of TheStreet thought it would be.

While all three of the deals that priced this week failed to meet expectations,

Cobalt International Energy


, which was chosen by 53.2% of voters as the IPO that would be most successful, actually took the biggest hit after its debut on the New York Stock Exchange.

Cobalt offered 63 million shares at $13.50 each

, less than the $15 to $17 Cobalt had predicted. The deal raised $850.5 million, which could reach $978.1 million if underwriters exercise an option to purchase 9.45 million additional shares.

By the end of the week, however, the stock recovered, to end flat at $13.50.

Kraton Performance Polymers

(KRA) - Get Report

, which 15.6% of voters thought would be the most successful, offered 10.3 million shares on Thursday for $13.50, significantly below its expected range of $16 to $18 each.

Shares of the polymers maker inched up 0.7% to close at $13.60.

Team Health


, hospital staffing and administrative support company, sold 13.3 million shares at $12 each on Tuesday. The company expected to sell 20 million shares priced between $14 and $16 each.

Team Health said it plans to use proceeds of about $146.5 million from the offering to redeem senior subordinated notes due in 2013.

While only 22.7% of voters thought Team Health would be the most successful IPO of the week, shares of the company have gained the most since its debut. Shares ended the week up 3% to $13.18.

TheStreet users did get it right, however, with

National Beef

, predicting it would be the least successful IPO of the week. Only 8.9% of voters said it would rank on top.

Indeed, National Beef didn't even get a chance to come out of the gate, deciding to delay the IPO due to weakness in the IPO market.

-- Reported by Jeanine Poggi in New York.


>>IPO Watch: Deals Disappoint

>>IPO Watch: Market Turns Volatile

>>Worst IPOs of 2009: Biggest Stock Flops

>>Top IPOs of 2009: Five Stocks to Watch

>>Which IPO Will Be Most Successful?

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