Issuer: eBay
Date: September 1998
Amount: $63 million
Bookrunner: Goldman Sachs,
The issue ended a 25-day IPO drought in the US. In a market where 75% of the deals postponed or withdrawn since July were IPOs, the institutional book alone on eBay’s offering was 20 times oversubscribed. It was the only IPO to be executed in September.
The success of this IPO can be attributed to the fact that it is an easy concept to understand: a profitable internet business with a good brand name.
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