Hi, 

What is the exact meaning of the numbers listed as " % change, since
IPO, 1 day, 30 days, 60 days " on the following page :

http://www.nasdaq.com/reference/ipos.stm : click on "IPO Performance, more..."

( According to yahoo finance, COGENT Inc. [COGT] opening price on the
date of IPO, september 24th 2004, was 16.02$. The share closed that
day at 17.98$, that makes a change of 1798/16.02 - 100 = 12%.
What makes it listed at 50% on the nasdaq website ?)

The IPO price was lower than the opening price.  The percentage
increase calculation is based on the IPO price.

Sincerely,

Wonko

"The deal was priced at $12 a share, on the high end of an increased
filing rang. It opened at $16.02 a share and ran up to a day?s high of
$19.03 before closing at $17.98 a share -- up 49.8 percent from its
initial offering price."

"IPO Corner" by John E. Fitzgerald (September 27, 2004)
http://gaskinsco.com/scoop9-27.htm

---

Request for Answer Clarification by michel123-ga on 07 Feb 2005 15:53 PST

Thanks for your fast answer. 

Beside, do you know if it is possible to buy some shares at the IPO
initial offering price (in that case it would have been at 12$),
before opening ?

---

Clarification of Answer by wonko-ga on 07 Feb 2005 16:23 PST

They have to be purchased directly from one of the underwriters of the
IPO.  This is typically difficult for small investors to do because
hot IPO shares are typically reserved for big clients and
institutions.  In some cases, like Google's IPO, an auction method is
used that allows "average" investors to participate in the IPO.

Sincerely,

Wonko