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IPOs: All Was Quiet on the IPO Front Last Week

With a healthy jobs report, Nasdaq rallied last week. However, this did not mean much for the IPO market. With the Fourth of July holiday, there was not much time to launch IPOs. In fact, there were no IPOs until Friday.

But it was a good Friday for InfoVista . The IPO was priced at $12.23, at almost at the top-end of the trading range of $10.58-$12.31. InfoVista opened at $14-1/2 and the stock ended the trading day at $30-1/4 (the high was $39.25).

The company was founded in Paris in 1995. InfoVista's technology monitors and analyzes corporate networks. Many of its clients are European, such as France Telecom (in all, there are 285 customers). Although, the company does have a substantial presence in U.S. markets. For example, there are reseller agreements with Cisco and 3Com.

As of the nine months ended March 31, InfoVista had revenues of $2.9 million and losses of $4.8 million. InfoVista offered 6 million shares, raising about $73 million.

Actually, most of this week's IPOs were delayed. But expect these to be priced this week.

The delays included:

divine interVentures: The company is an Internet incubator, investing in start-ups. However, incubators are out-of-favor -- which helps explain the delay in the IPO. Apparently, the company will price its IPO below the current price range of $13-$15.

The flamboyant founder of the company, Andrew "Flip" Filipowski, fired his original underwriter, CS First Boston. Rumor was that CS First Boston wanted to delay the IPO until later this year.

Now the lead underwriter is Robertson Stephens and the proposed ticker symbol is DVIN.

Entegris: The company develops technologies that monitor semiconductor wafers. The company plans to issue 13 million shares at a range of $13-$15 (the original price range was $15-$17). The lead underwriter is Merrill Lynch.

The company has profits, which were $5.7 million in 1999. Revenues were $242 million.