Capital markets, in good times and bad, tend to indicate economic trends before they happen. We are supposedly at an economic low and markets are heading downwards. Have the markets bottomed out or will they fall further?
But to judge by a clutch of Israeli offerings on Wall Street in the past day or two, it seems that now is the time to invest, despite the euro zone debt crisis and the troubles in Italy and Greece.
On Wall Street the indices are back in positive territory for 2011 and the markets are moving ahead. In particular public offerings are in full swing as exemplified by Groupon and next week promises to be the busiest yet for IPOs since 2007.
Israelis are getting in on the act. Data protection solutions developer Imperva Inc. raised more than expected, Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) has completed its secondary offering, and English writing software developer WhiteSmoke Inc. has its IPO in the works. Idan Ofer's Pacific Drilling SA as well as a number of other companies have New York IPOs in the pipeline.
IPO is no longer a dirty word.
Published by Globes, Israel business news - www.globes-online.com - on November 9, 2011
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