The most successful IPO of the year

This isn’t actually the most successful IPO of the year, I think its more of a stastical fluke. But playing around with Yahoo finance I came across a page with “the best IPOs of the year. Number 1 is the “Asia Special Situation Acquistion Corp.” Which, despite having shares with 100$, did a secondary share offering for 10$ a share (at least that’s how I read the graphs). Meaning that the shares they sold made a 900% gain.

The company is a special purpose investment vehicle for the Ho family (Macau gaming tycoons):

We intend to identify prospective acquisitions that are either located in Asia, provide products or services to customers located in Asia, or invest in Asia. Our efforts to identify a prospective target business will not be limited to a particular industry or area in Asia, although we initially intend to focus our efforts on acquiring an operating business in the leisure and hospitality or financial services industries, that invest in, is located in or provides products or services to customers in China.

Angela Ho has served as our Co-Chief Executive Officer and Chairman of the Board of Directors since our inception in March 2007. From 2002 to the present, Ms. Ho has managed real property portfolios, including for Dragonballz Trust and Sponge Bob Trust, which are each engaged in the business of real estate, for investors in Macau and the United States. From 1996 to 2006, Ms. Ho has also been active in managing various family businesses controlled by her father, Dr. Stanley Ho, including Jet Asia Ltd., HoGaming.com and drho888.com, which are engaged in the business of aviation, computer software and Asian gaming operations, respectively. From 1980 to 1987, she worked as a sculptress exhibiting in a number of major galleries and museums, and was employed at Sotheby’s Fine Arts Department, New York.

God I wish I was part of the Ho family.