What "return from the offer price" means
The offer price is what the underwriters priced the deal at the night before trading. Allocations at that price go to institutions and to the bank’s clients. Most people bought at the first public print, which is frequently well above it — so the figures on this page are the best case, not the typical one.
Why the first year matters
A newly listed company has no long trading history, limited analyst coverage and, usually, no insider buying at all — officers and directors are typically locked up for six months and hold shares they were granted rather than bought. That is why several breakdowns on this page will show no Form 4 purchases; it is a feature of the lock-up, not a verdict.
What to look for in the breakdown
With no insider history and thin coverage, the financial snapshot does most of the work here: revenue, whether the company earns anything, and what the cash position looks like. A debut that has doubled on no revenue is a different object from one that has doubled on growing free cash flow.
When lock-ups expire
The first insider selling in a newly listed company usually arrives at the lock-up expiry, roughly six months after listing. A name that appears strong here early in the year may face that supply later in it.
How often this updates
Rebuilt every Friday after the close.