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STOCKWATCH: Waving goodbye to value as IPO Window closes?

 
• By Andy Smith

It must have been a tense board meeting. Starting at 9.00 p.m. UK time on Thursday 12 November, Oxford Immunotec's bankers, investors and management convened to push a small, non-US-domiciled diagnostics company through an opening in the Nasdaq initial public offering window. Had they not been desparate, they might have noticed that "small", "non-US-domiciled" and "diagnostics" are not usually key attributes of successful Nasdaq IPOs. Neither, usually, is "late".

It must have been a tense board meeting. Starting at 9.00 p.m. UK time on Thursday 12 November, Oxford Immunotec's bankers, investors and management convened to push a small, non-US-domiciled diagnostics company through an opening in the Nasdaq initial public offering window. Had they not been desparate, they might have noticed that "small", "non-US-domiciled" and "diagnostics" are not usually key attributes of successful Nasdaq IPOs. Neither, usually, is "late".

With other US companies cancelling their Nasdaq IPOs in the face of falling market appetites, the management of Oxford Immunotec...

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