Many companies hedged their bets. Sixty-six companies withdrew plans to raise money through new stock offerings in 2011, a 27 percent rise from the previous year, and the biggest number since the depths of the recession in 2008, according to IPO Investment firm Renaissance Capital. Stocks of many of the companies that took the plunge haven't fared well. About two-thirds of companies that went public this year are trading below their offering price, according to advisory firm IPO Boutique. As a group, IPOs that went public this year lost 13 percent of their value â¿¿ the first negative return since 2008.

Some of those themes were apparent this week, the last before the IPO market shuts down for the year in the U.S. Twelve companies had lined up IPOs. If all of them had begun trading, it would have marked the busiest week for IPOs since November 2007. That didn't happen. Three of the companies, information technology services provider FusionStorm Global Inc., industrial materials maker GSE Holding Inc. and chemicals and metals maker Luxfer Holdings PLC, postponed their offerings.

There were some successes. Jive Software Inc., a company that is trying to become a corporate networking version of Facebook, and luxury clothing and accessories company Michael Kors Holdings Ltd. priced higher and sold more shares than expected. Both soared on their first trading day.

And then there were the mixed successes. Zynga Inc., which specializes in making games for social networking website Facebook, raised $1 billion, in the biggest Internet IPO since Google's 2004 launch. The offering price of $10 per share values the company at about $7 billion â¿¿ at least $13 billion less than some market watchers predicted back in July when the company filed to go public. The shares fell 50 cents, or 5 percent, to close Friday at $9.50.

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