Q1 IPOs raise $12B, 166% higher than last yr

Hoover's Scorecard shows public markets are embracing IPOs; Qihoo, Endocyte, Demand top gainers

Is the U.S. finally bouncing back from the crippling recession that brought the economy to its knees? Nobody jinx it! We’ll just keep an open mind and hope for the best…

Companies that went public in the first quarter of 2011 generated 166% more capital than they did in Q1 2010, according to Hoover’s, a Dun & Bradstreet company and a provider of key insights and information on U.S. companies. This doesn't seem like much when you consider the fact that IPOs in Q4 2010 brought in $24.3 billion, but in reality, this marks the first time that we've seen two back-to-back quarters raising more than $10 billion since 2007.

Hoover’s Scorecard, a chart detailing quarterly IPOs and top earners, reveals that 28 companies went public last quarter, generating a total of $12.1 billion in capital. By comparison, the same number of companies went public in Q1 2010, but barely made a ripple in the U.S. economy with $4.5 billion.

Of the top 10 earners of the quarter, seven were based on the U.S., while China took the top spot with Qihoo 360 Technology Co., Ltd., an antivirus software developer that had the highest first day gain of 104%. But aside from Qihoo, Chinese businesses did not fare well overall in the IPO climate last quarter.

“Only five U.S. IPOs in Q1 2011 were Chinese businesses, and these IPOs priced relatively low--$8.45 per share on average,” said Lee Simmons, editor at Hoover’s, in a statement. “Chinese ventures lost favor with U.S. investors in Q1, due to declining quality and increasing skepticism. When U.S. investors saw a glut of major American companies hit the market, they grabbed their wallets.”

All industries were equally represented, with no one industry dominating the market in Q1. The companies that saw its shares rise the most include Qihoo with its 104% return, Endocyte with a 43% return, Demand Media with a 39% return, Nielsen with a 19% return, and more.

The worst first-day drop: AcelRx Pharmaceuticals, Inc., which plummeted -31%.

Three firms priced at over $1 billion: HCA Holdings ($3.7 billion), Kinder Morgan ($2.8 billion), and Nielsen Holdings N.V. ($1.6 billion).

Hoover’s analyzes the IPO market daily to produce its quarterly scorecard. The company delivers insight and analysis on companies and industries via the Internet, data feeds, wireless devices, and co-branding agreements with other online services. 

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