When a company of any significant size goes public, it’s kind of a big deal. Obviously, the company’s owners are hoping to make some money – that’s kind of what the “company” is for. But there’s more to it than the mere quest for filthy lucre. One of the most exciting periods in the history of Wall Street was the year 2009 when many companies decided to go public. Some of these companies have become household names, while investors have forgotten others. Here are the eight companies that had their IPO in 2009.
8 Companies That Had Their IPO in 2009
2009 was a good year for IPOs. The stock market was up, and companies like Groupon and Pandora made big splashes with their initial public offerings. Here’s a look at eight of the most successful public offerings from 2009:
PT Sumber Alfaria Trijaya Tbk, also known as Alfamart, is an Indonesian chain of franchised convenience stores. 4 million daily clients, over 17,000 locations spread out across Indonesia, and tens of thousands of micro, small, and medium-sized business partners made up the company as of May 2021. There are about 1,000 Alfamart locations in the Philippines. The company’s president, Djoko Susanto, established it as a trading and distribution business in Jakarta in December 1989.
With almost 3,000 locations nationally, Alfamart entered the Indonesia Stock Exchange in 2009. As of now, the company is a PT Sumber Alfaria Trijaya Tbk. Soon after, Alfamart expanded from operating only a network of convenience stores to operating supermarkets with Alfamidi Mini Supermarkets, bringing Lawson stores to Indonesia.
2. Broadcom Inc.
Broadcom Inc. is an American semiconductor and infrastructure software, manufacturer, product innovator, developer, and global supplier. Broadcom’s product portfolio includes solutions for the data center, connectivity, software, internet, wireless, memory, and industrial applications.
In 2005, KKR and Silver Lake Partners purchased Agilent Technologies’ chip division for $2.6 billion, giving rise to Avago Technologies. In October 2005, Avago Technologies and PMC-Sierra reached an agreement for the sale of the I/O solutions division. The business announced a $400 million initial public offering in August 2008. For €21.5 million, Avago Technologies purchased Infineon Technologies’ bulk waveguide business in Munich in October 2008. Avago Technologies debuted on the NASDAQ on August 6, 2009, trading under the ticker AVGO.
3. Dollar General
Dollar General filed for an initial public offering of up to $750 million on August 20, 2009. Re-establishing the company as a publicly traded company. They began selling cigarettes in 2013, in reaction to its competitor Family Dollar’s sale of smokes in 2012.
Dollar General’s 12th fulfillment center managed to open on May 31, 2014, in Bethel, Pennsylvania, to serve the company’s shops in the northeast and midwest. The company made a competing proposal for Family Dollar of $9.7 billion versus Dollar Tree on August 18, 2014. However, on August 20, 2014, the Family Dollar board of directors rejected the bid, stating that the agreement with Dollar Tree will proceed.
4. Evergrande Group
The 2020–2022 Chinese real estate crisis occurred because of Evergrande’s payments on its debt, which began in 2021. Evergrande’s overall obligations projected to be in the hundreds of billions of dollars. On September 20, 2021, this was among the factors contributing to a decline in various stock market indices. The Chinese government finally started restructuring Evergrande by the end of 2021 in an effort to stop the situation.
The group’s bondholders also requested a moratorium on the early redemption choice on one of the group’s yuan-denominated notes on January 7, 2022. The business raised $722 million US in its first public offering on the Hong Kong Stock Exchange in October 2009. (SEHK).
In the third quarter of 2008, Fortinet started to turn a profit. Later that year, IPLocks, a database safety, and monitoring company sold its intellectual property to the business. Fortinet purchased the intellectual property and other properties of the Ethernet switching business Woven Systems in August 2009.
By November 2009, Fortinet had approximately 15% of the market for unified damage mitigation, according to research company IDC. Therefore, Fortinet was on top of the list of information security hardware in CRN Magazine’s research study annual progress report in 2009, up from seventh in 2007. Fortinet held its initial public offering in November 2009. Consequently, the business raised a total of $156 million at the end of the first trading day.
6. Mead Johnson
In order to concentrate on its core pharmaceutics company, Bristol-Myers stated in February 2009 that it will spin off Mead Johnson. An IPO was expected to raise $562.5 million, consequently leaving Bristol-Myers with a 90% ownership stake in the company.
According to a plan presented in November 2009, stockholders of Bristol-Myers would be able to trade their 133.5 million stock in the company for $1.11 worth of stock of Mead Johnson, therefore valuing the company at $7.7 billion at the time based on the stock’s ending price at the time.
So a tax-free interaction was designed to be provided by the stock swap. With a successful implementation of this split-off, they come to consider themselves a BioPharma company, as Bristol-Myers CEO James M. Cornelius stated.
Eric Moe, Sid Gorham, and Chuck Templeton established OpenTable, an online food reservation company, on July 2, 1998. The company is headquartered in San Francisco, California.
End users are not charged for reservations; nevertheless, the firm charges restaurants flat monthly and per-reservation fees for using the system.
Over 50,000 restaurants worldwide use the company’s internet booking service, which serves over 1 billion diners annually. The initial public offering (IPO) of the business took place on May 21, 2009, and it was listed on the NASDAQ stock exchange with the ticker symbol.
About 300 of the company’s 450 total employees were situated in Austin, Texas, where the business relocated its headquarters in 2006. As of 2011. From the time of its founding until its IPO in 2009, the business was profitable.
In 2007, Bain Capital, Austin Venture, and Insight Venture Partners all contributed money to SolarWinds. In May 2009, SolarWinds completed a US$112.5 million initial public offering, ending at higher prices than on the first trading day. After SolarWinds’ IPO, OpenTable followed suit, breaking what was thought to be a dry spell during the Great Recession when very few businesses went public. The IPO was supported by Bain Capital as well as Insight Venture Partners, both of which took advantage of the chance to sell some of their shares.
2009 was a good year for the IPO market. More companies came to market and demand for IPOs reached its highest levels since 2000. Better market conditions, investor sentiment, as well as improved corporate results all combined to make 2009 a busy year for initial public offerings (IPOs).