IPOs feel the stock market's pain
Some companies find it difficult to go public as stocks languish; two firms set to debut.
By Grace Wong, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Stocks are stuck in a rut, and that's taking a toll on the market for companies going public.

Private-equity backed GNC Corp. and Internet domain registration company Go Daddy Group both withdrew their initial public offerings this past week, citing poor market conditions.

nasdaq.mkw.gif
The Nasdaq has lost nearly 7 percent so far this year.

Just halfway into the third quarter, some 15 companies have withdrawn or postponed their plans to go public, according to deal tracker Dealogic. That many deals were withdrawn or postponed in the entire second quarter.

The Nasdaq composite (Charts) dove in May, and has been on a downward spiral ever since. The tech-heavy index, considered to be a barometer of the IPO market, has lost nearly 7 percent so far this year. (See chart)

This week, only two firms are planning to go public.

InnerWorkings handles printing jobs for corporate clients. The company plans to offer 10.6 million shares - 7.1 million from InnerWorkings and 3.5 million from selling shareholders - priced at between $8 and $9 a share. The company will list on the Nasdaq under the ticker "INWK."

Marathon Acquisition is a so-called blank check company, which means it doesn't have any operating businesses of its own, but instead plans to acquire or merge with other companies.

Marathon plans to offer 37.5 million units, which are expected to price around $8 a share. Each unit represents one share of stock and one warrant. Each warrant allows a holder to purchase a share of stock at $6 a share at a later date. Marathon plans to list on the American Stock Exchange under the symbol "MAQ.U."


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.