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IPOs on March Back

Traders Magazine, March 2002

Colleen O'Connor

It was no big deal in the recent heyday of IPOs, but these days more than two IPOs in one week can seem like a stretch. Still, it happened twice as the first quarter drew to an encouraging close. Now, investors wonder if this is a sustainable trend, a trend fuelled by a market that has been reviving somewhat, especially in the defense sector. Defense contractor Anteon International Corp. (NYSE:ANT), real estate developer WCI Communities Inc. (NYSE:WCI), and automobile retailer Asbury Automotive Group Inc. (NYSE:ABG), all hosted successful public offerings, raising $483.1 million in new capital in mid-March.

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