The Internet initial public offering market is weakening, with many offerings being postponed as uncertainty in the Internet sector continues.
All of this, however, didn’t prevent a strong showing from the IPO of e-commerce consulting company iXL Enterprises (Nasdaq: IIXL) on Thursday. iXL stock went public at $12 a share and closed nearly 50 percent higher, rising 5-7/8 to 17-7/8. Shares of iXL traded as high 24-1/2.
In addition to providing Internet strategy consulting and solutions to corporations, iXL owns the Consumer Financial Network, an e-commerce platform for marketing financial services and employee benefits over corporate intranets and the Internet.
iXL’s IPO has to be viewed as an encouraging success, giving the current state of the IPO market.