The initial public offering of iGo, an online retailer that sells accessories for handheld computing device and cellular phones, could get off to a strong start when the stock opens for trading today. The company priced five million shares at $12, above the proposed price range of $9 to $11. This IPO has a strong underwriting team, led by BancBoston Robertson Stephens, with Hambrecht & Quist and Thomas Weisel partners as co-managers.
Pre-IPO demand for this new issue seemed to be pretty high. However, it has been a tough two days for the financial markets so far this week, and it will be interesting to see whether a lot of people decide to buy into an IPO after it opens in the currently unstable market.