What are some of the companies that had their IPO in 2006? Whether it is Google or some other company or whether it is the latest startup that has seen huge success, there are companies being listed to sell their shares on the market and thus become publicly owned organizations. Each year we see more and more of these entities open their doors for investment as well as allowing a large number of individuals to buy shares of their company.

And each year also about twice as many new companies open, then are closed and become history. There were many important business events in 2006 and you will find a list of companies that had their IPO in 2006 as well as other major corporate events and business news stories.

8 Companies That Had Their IPO in 2006

companies that had their IPO in 2006
Source: IPO

The year 2006 was a big one for IPOs, with more than $60 billion raised by companies going public. While some of these companies have gone on to become household names, others have not fared so well and have either been acquired or fallen off the map completely. Here are eight companies that had their IPO in 2006:

1. Allegiant Air

An American low-cost carrier called Allegiant Air flies both regular flights and charters. It is a significant airline and the fourteenth-largest international carrier in North America.

Allegiant was established in 1997 and is entirely controlled by Allegiant Travel Company, a publicly listed business with 4,000 employees and a market valuation of more than US$2.6 billion in 2016. Summerlin, Nevada, a suburb of Las Vegas, is home to the company headquarters.

In advance of a projected initial public offering of its ordinary shares, Allegiant submitted a registration application to the Securities and Exchange Commission in November 2006. With 5.75 million shares at a price of $18 apiece, it raised $94.5 million in financial assets. In December 2006, it commenced trading on the NASDAQ Share Market under the ticker “ALGT.”

2. Cowen Inc.

Broker-dealer and investment management are the two business divisions of Cowen Inc., an American global independent investment bank and financial services corporation. Products for alternative investments are actively managed by Cowen’s investment management division. The company was established in 1918 and has offices all over the world. In particular, the burgeoning cannabis business, Cowen believes it is renowned for correctly recognizing emergent companies early on.

Toronto-Dominion Bank announced on August 2, 2022, that it will buy Cowen for US$1.3 billion. Up until 2006, Cowen operated as a Societe Generale division before being spun off in an IPO and changing its name to Cowen & Company.

3. EXL Service

The insurance, healthcare, banking, financial services, media, retail, and other industries are among those served by the international analytics and digital solutions provider EXL Service. With more than 37,000 employees spread across Europe, the United States, Asia,  Australia, Latin America, and South Africa, the firm has its headquarters in New York.

Conseco purchased EXL in August 2001 and ran it as a completely owned subsidiary. Conseco sold the business to Oak Hill Capital Partners and FTVentures in 2002. On October 20, 2006, the shares of the company started business on the NASDAQ platform under the ticker EXLS. With the takeover of its peer business Inductees, EXL began down the path of expansion through acquisitions just prior to its NASDAQ debut.

4. Tim Hortons Inc.

Tim Hortons Inc., sometimes known as Tim’s or Timmie’s, is a worldwide Canadian brand of fast food restaurants. TH Inc., which has its headquarters in Toronto, offers doughnuts, coffee, and other fast food items. As of March 2, 2022, there were 4,949 Tim Hortons restaurants worldwide.

On March 24, 2006, the ’s stock went public at a price of CA$27 a share. Generating over $700 million on the first day on market. By giving the remaining 82% of its Tim Hortons stock to its owners, Wendy’s spun off the remaining stock on September 24, 2006. Tim Hortons appeared on both the S&P/TSX 60. Canada’s premier stock market index and the S&P/TSX Composite Index, on the same day.

5. IPG Photonics

The American company IPG Photonics produces fiber lasers. Optical fiber lasers became commercially available by IPG Photonics. These lasers are an important tool in telephony, medical products, and materials processing, among other things. IPG has production sites in Italy, Germany, Russia, and the United States. In an initial public offering in 2006, IPG raised more than $90 million, net of revenues.

It opened operations close to Detroit, Michigan in 2006. Then in Beijing, China in 2007, and its Silicon Valley Technology Center in 2010. The company kept growing. The business released its first quasi-continuous wave (QCW) lasers onto the market in 2010.

6. Goodman Global

The largest producer of heating, airflow, and air conditioning systems worldwide. Daikin Group has an autonomous subsidiary in the United States called Goodman Manufacturing. The Waller, Texas-based company was established in 1975 and produces home heating and cooling systems.

Goodman has its headquarters in the $417 million Daikin Texas Technology Park. Which is just outside of Houston, Texas. Apollo Management, a private equity company, purchased Goodman in 2004 for roughly $1.43 billion. Only one and a half years later, in April 2006, Goodman finally finished an IPO. So it appeared on the New York Stock Exchange.

Goodman consented to be a part of Hellman & Friedman. A San Francisco-based private equity company, in an agreement for $1.8 billion in October 2007.

7. Netlist Inc.

With its headquarters in Irvine, California, Netlist Inc. is a Delaware-registered business that develops and markets high-performance SSDs and modular memory subsystems to business clients across a range of sectors. Additionally, it produces a variety of legacy and specialty memory solutions for cloud and datacenter users, system builders, device users, and storage clients.

As of 2021, Netlist has more than 120 employees and generated $142.4 million in yearly sales. Late in 2006, the stock appeared on the list on NASDAQ. Netlist sold 6,250,000 shares of its ordinary shares in its first public offering in 2006 for a price of $7 per share. Netlist stated on September 26, 2018, that it was leaving the NASDAQ to trade on the OTCQB.

8. Vonage

A subsidiary of Ericsson, Vonage is an American cloud communications provider. The business, which has its headquarters in Holmdel Township, New Jersey, started up in 1998 as Min-X as a supplier of voice over Internet Protocol home broadband services (VoIP).

The business changed its name to Vonage in 2001. In the months leading up to its IPO, Vonage distributed shares of its stock to its current clientele. Shares of an IPO are often only available to large institutional investors, such as banks.

On May 24, 2006, Vonage’s shares made their debut on the New York Stock Exchange at a price of $17 per. The price dropped 12.7 percent to shut at $14.85, making it the worst trading day for an IPO in 2006 to that point. The company received $531 million from the IPO. Existing clients who suffered financial loss, however, launched a class action case.

Final Words

Hopefully, looking at a list of companies that had their IPO in 2006 will help give you some positive insight into your own business and how it might turn out. Plenty of people disagreed with our list, and others argued that we should’ve done more research or removed certain businesses from our rankings.

And still, others have completely different ideas as to what the best companies that had their IPO in 2006 are. The one thing all of this back-and-forth shows us is that there will never be a definitive answer to these questions.

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