DELPHI AUTOMOTIVE IPO Brings Mixed feelings
The Delphi Automotive IPO could bring up some mixed feelings for some investors. Back in 1999 the company’s IPO did very well, trading up almost 10% on the first day after being spun off by General Motors (GM:NYSE). At that time, some investors were looking for nuts and bolts stocks to rotate into because of rising internet sector valuations.
However, the Delphi Automotive IPO buyers who held the shares for the long haul were disappointed. The company started laying off employees in 2001, and changed it’s name from Delphi Automotive Systems to Delphi Corporation shortly after. Scrutiny from the SEC came in 2004 in regards to accounting practices, and certain transactions. Then in 2005 Delphi filed for bankruptcy.
DELPHI AUTOMOTIVE IPO Trying To Rebound
Now why are we seeing renewed interest now in the upcoming revamped Delphi Automotive IPO? Is it just a recycled deal ? Or have conditions changed for the better?
Well the jury is still out, and as most know the IPO market is iffy at best. Many of the recent deals that have traded, seem to be at the mercy of the premarket SP futures to decide their opening pops or declines.
Many of the old school Delphi investors know that the company was bleeding money earlier in the decade, however conditions have changed. So far in the last two years, the company has been extremely profitable, and margins have been healthy as well.
At this point the Delphi Automotive IPO is slated to trade in Mid-November, and they are intending to issue 24.1 million shares in a range between $22 and $24.
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