Houston IPO activity takes dive in third quarter of '98.(initial public offering)

Capital raising by Houston-area companies dropped 25 percent in the third quarter, while statewide totals declined 8 percent and nationwide activity remained about the same as a year ago according to an analysis released by Charles P. Young Co., financial and fine color printers.

In the quarter that ended Sept. 30, Houston-area companies completed 23 public securities transactions worth a total of $3.6 billion, compared with $4.7 billion on 39 transactions in the same period in 1997.

Just six deals were completed by Houston companies in September, the seventh consecutive month of flat or declining deal volume since a high of 15 was reached in Feb. 1998.

Houston …