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Byline: MARILYN ALVA
The three-year-old initial public offering deep freeze started to thaw out in the summer of 2003, and by year-end most of the ice had melted.
Fifteen companies went public in November followed by another 18 in December -- the most monthly public debuts in three years.
That's in sharp contrast to the IPO market in late 2002 and early 2003. Only six companies went public in the first six months of 2003.
In the second half of 2002, 25 debuted for a total of 70 for the year. That compared with 480 in 1999 and 406 in 2000.
More companies went public in July and August alone than during the first half of 2003. The pace kept up through the fall and never stopped, bringing the total IPOs for the year to 68.
That was still two short of 2002 and the lowest level since 1979, says IPO specialist Renaissance Capital. But the third and fourth quarters of 2003 produced more than 90% of the year's total.