Local-business reviewer Angie's List Inc. became the latest consumer Internet company to launch an IPO in the U.S. in the narrow window left before the end of 2011, scheduling a potential $114 million offering for the week before Thanksgiving.
Angie's List, which plans to trade on the Nasdaq under the symbol ANGI, will come on the heels of daily deals Internet site Groupon Inc.'s initial public offering, which is set to begin trading this Friday. (If all goes as planned, Angie's List will price on the evening of Nov. 16 and begin trading on Nov. 17.)
The two companies will likely be among a dozen IPOs that attempt to sashay in front of investors before everyone takes a break during Thanksgiving week in the U.S., which starts Nov. 21. After three months of chilly conditions for new stocks--there were none in September, and two in each of October and August--the next few weeks represent a brief opportunity to get IPOs done prior to the end of the year.
Following a period of broader market strength in October--the month ended with the largest point gain in the Dow Jones Industrial Average's history--bankers and issuers are planning for a busier IPO calendar in November. After Thanksgiving week, there will be about 2 1/2 weeks in December left during which IPOs can price, and no one can say how market conditions might change before then.
Besides Angie's List, another widely recognized consumer Internet offering that is expected to launch an IPO in coming weeks is online games developer Zynga Inc.
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