IPO market encouraged by Hyatt's successful $950 million offering

11/5/2009 | Bloomberg

After seeing three IPOs pulled back at the last minute in the past week, bankers were encouraged to see the $950 million Hyatt Hotels Corp. IPO coming off without a hitch. It was the third-largest IPO in the U.S. this year. "Investors are being very selective when it comes to IPOs," said Walter Todd, co-chief investment officer Greenwood Capital Associates. "Many people have their arms around Hyatt because it's a well-established company."

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