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Companies that had their ipo in 2003 are discussed here. 2003 was a great year for investors. Not only did companies have their IPOs (initial public offerings), but they also experienced record highs in market capitalization and stock prices. For example, the S&P 500 index rose by 35% between January 1 and December 31 of 2003, compared to just 15% over the same period in 2002.
In this article, we will talk about some companies that had their ipo in 2003. So, let’s get started.
1 – United Online
United Online Inc., founded in 1999 and now a subsidiary of Verizon Communications Inc., was one of the first internet service providers to offer its customers an online banking platform. The Company’s stock price jumped more than 100% following its IPO on April 28, 2003.
Since then, United Online has continued to grow and expand its customer base through acquisitions such as Internet Gold and PayPal Digital Gifts (the latter acquired by eBay in 2009).
2 – Palo Alto Networks
Palo Alto Networks is a security and networking company headquartered in Palo Alto, California. It was founded in 2002 by three Stanford University computer science graduates: David Hitz, John McBeth (who would later become CTO), and Brayton Williams.
The Company has over 5,000 employees worldwide and had a revenue of $1 billion in 2018. Palo Alto Networks’ products include firewall appliances that monitor network traffic and defend against threats.
3 – Modine Manufacturing Company
Modine Manufacturing Company manufactures heating, air conditioning, and refrigeration equipment for the commercial, industrial, and residential markets.
Modine’s products include:
- Air conditioning systems
- Chillers (heating)
- Condensing Units
- Heat Pumps
The Company was founded in 1956 by Joseph Modine as a manufacturer of oil burners for heating applications. In 1961 it became one of the first companies to manufacture air conditioners on an industrial scale when it started manufacturing chillers at its facility in Yorktown Heights, New York, under contract with Carrier Corporation (now Honeywell).
4 – Hologic, Inc
Hologic is a medical technology company and provider of diagnostic products and services. Based in Marlborough, Massachusetts, the Company’s common stock is listed on the Nasdaq composite under the symbol Hologic.
Hologic manufactures non-invasive imaging systems for physicians to detect diseases such as breast cancer or colon cancer that may be undetectable with traditional methods.
The Company also offers other products used during surgical procedures, including:
- Endoscopes imaging devices enable surgeons to view interior structures during surgery.
- 3D angiography systems allow practitioners to visualize large blood vessels without cutting them open (if these are small enough).
- Catheters designed specifically for use with its imaging products
- Closed-loop perfusion systems are designed specifically for use with their 3D angiography systems.
5 – Realogy holdings corp.
Realogy Holdings Corp., formerly known as Encompass Properties, is a real estate company headquartered in New York City. The Company’s IPO took place on March 19, 2003, and its shares were initially sold at $20 per share.
The stock peaked at $48.50 on May 15, 2004, before declining to $41 by November of that year due to concerns about the economy and housing affordability issues across America. Realogy later went public again in 2007 with an initial offering price of $16 per share (with a total market cap of approximately $2 billion).
The stock has continued to rise since then thanks largely to its profitable portfolio of residential properties throughout major metropolitan areas such as New York City; Los Angeles; Boston; Chicago; San Francisco Bay Area; Washington Dc Metro Area etc., along with several other locations throughout Canada and Mexico.”
6 – Werner Enterprises, Inc.
Werner Enterprises, Inc. (NYSE: WER) is a truck leasing company founded in 2003 and listed on the New York Stock Exchange in 2010. The Company leases trucks to businesses to help them transport goods throughout the country. It operates through four divisions: Regional Leasing, National Leasing and Logistics (NL&L), North America Fleet Management, and International Fleet Management.
The firm has experienced rapid growth over the past few years as it has continued to introduce new services like online payments for customers who lease their vehicles through its website or mobile app. These updates make it easier for customers to access information about their vehicles’ performance history to make informed decisions about which model is right for them.
7 – Equinix, Inc.
Equinix, Inc. (NASDAQ: EQIX) is a provider of global interconnection and data center services for carriers and enterprises.
The Company’s services include cloud computing, colocation, network access, and CTO services. Equinix was founded in 1998 by Prabhakar Raghavan as an Internet exchange with one server in San Jose, California; today, it has more than 300 facilities worldwide with the capacity to serve over two terabytes per second across its networks.
The Company’s IPO took place on June 19, 2003, at $10 per share with a valuation of $1 billion compared to just under half that amount when it went public four years earlier on May 17, 2001, at $12 per share with an enterprise value of $375 million. A gain of 83x over four years.
As you can see from these numbers, Equinix was quite successful after its initial offering but still has plenty left for growth if we look beyond just 2004 alone.
8 – Chemed Corporation
Chemed Corporation is a pharmaceutical company that was founded in 1987. It has its headquarters in New York City and has gone public through an IPO (initial public offering).
The Company’s market cap is $2.9 billion, making it the largest biotech company today.
The ipo date for Chemed Corporation was June 2003, and the stock price at that time was $16 per share. The Company raised $240 million during its initial public offering, making it one of the most successful IPOs.
It looks like it is a wrap.
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2003 was a great time for ipos, with many exciting companies listed on the market. Hopefully, this article has given you an insight regarding the companies that had their ipo. This was all about Companies that had their ipo in 2003.