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Companies That Had Their IPO in 2008

What are some of the companies that had their IPO in 2008? The companies that had their initial public offering in 2008 may not exist today. They will tell you whether they survived the economic turmoil the following year. Or if they were sold at bankruptcy auctions. The U.S. economy took a turn for the worse in 2008. This was due to the financial crisis that caused several companies to enter bankruptcy. Today we wanted to go back to 2008 and look at the companies that had their IPO during that year.

8 Companies That Had Their IPO in 2008

The global financial crisis was in full swing. The housing market had collapsed and many companies were struggling to survive. Even so, some companies still managed to go public during this difficult time. So here are eight companies that successfully went public in 2008:

1. Adaro Energy

Firstly, ADARO energy cr. By output volume, PT Adaro Energy Indonesia Tbk is Indonesia’s second-largest coal miner; but by market capitalization, it is the biggest. In addition, Adaro Energy was the 1527th-largest public corporation worldwide according to the 2011 Forbes Global 2000. The business is an energy group from Indonesia that, despite its subsidiaries, specializes in coal mining.

The biggest single coal mine in the southern hemisphere is run by the subsidiary PT Adaro Indonesia at the major location in South Kalimantan’s Tabalong area. An initial CCA (coal cooperation agreement) between the Indonesian government and Adaro Energy. It is in effect and is good until the end of 2022. Finally, the largest initial public offering in American history was completed by Adaro Energy in 2008, raising $1.3 billion.

2. Axiata

Axiata Group Berhad or also referred as Axiata or just Axiata. It is a multinational telecommunications company based in Malaysia with significant activities throughout Asia. It is among the biggest wireless providers in the nation.

The business was founded on June 12, 1992, formerly identified as TM Worldwide Bhd (TMI). It was Telekom Malaysia Bhd’s division for mobile and international operations (TM). The firm was traded on the Main Board of Bursa Malaysia Securities Berhad in 2008 following TMI’s de-merger from TM. Furthermore, TMI underwent a marketing effort on 2 April 2009, introducing Axiata as its new name and a new logo.

3. Rackspace Technology

When Rackspace initially submitted an application, it was ranked No. 32 in Fortune’s “Top 100 Best Companies to Work For 2008”. This was because of the transparency that the business received acclaim. Top-level executives regularly hold “Open Book” meetings when they provide all staff members with comprehensive financial information. Fortune listed the business as one of the top 100 places to work in 2011 and 2013 respectively. 

After its first IPO that generated $187.5 million, Rackspace began trading on the NY Stock Exchange on August 8, 2008, under the ticker code “RAX”. Consequently, 15,000,000 stocks of its ordinary stock were offered in the initial public offering at a price of $12.50 each.

4. Federal-Mogul

The Federal-Mogul Corporation is an American company that creates, manufactures, and supplies goods for use in chemical farming. As well as power-generation applications in automotive, commercial, aerospace, marine, railways, and off-road vehicles. In October 2018, Tenneco bought it.

Federal-Mogul Motorparts and Federal-Mogul Powertrain were two separate business divisions that it operated. Therefore, there was a separate chief executive officer for each of the two divisions. Robert G. Evans Co., Hanauer Machine Works, Inc., Metaltec, Inc., Mather Co., as well as Fel-Pro, Inc. All were among the businesses that Federal-Mogul Corporation bought during the company’s restructuring. Coming out of Chapter 11 administration in 2008, the business launched its Class A common stock on NASDAQ in April. Under the ticker symbol FDML.

5. Rosetta Stone Inc.

Software for language, literacy, and brain fitness is a part of Rosetta Stone Inc., an American provider of educational technology. The company is mostly famous for its language-learning products. Although in 2013 it added Livemocha, Lexia Learning, Fit Brains, and Tell Me More to its portfolio. This allowed the company to diversify into the education technology sector. It merged with IXL Learning in 2021 to become a subsidiary.

The Securities and Exchange Commission received a registration statement for an initial public offering from Rosetta Stone Inc. on September 23, 2008. In its offering of equity shares on April 15, 2009, the company, doing business as Rosetta Stone, raised $112 million. The stock increased 39% from its opening price on the first full day of trading on the NY Stock Exchange.

6. Visa Inc.

By establishing Visa Inc., Visa put an end to its organizational reorganization on October 3, 2007. The new business was the first phase of Visa’s first public offering. The new Visa Inc. completed the second step on November 9, 2007, when it filed its $10 billion initial public offering with the U.S. Securities and Exchange Commission. Visa declared on February 25, 2008, that it would proceed with the IPO of 50% of its shares.

the 18th of March 2008 saw the IPO. At the time, Visa made history by selling 406 shares of stock for US$44 each, raising US$17.9 billion in the biggest IPO in American history.

7. Galena Biopharma

In March 2008, RXi decided to go public. In addition to giving existing stockholders shares of RXi, CytRx kept 49% of the company’s stock ownership. On March 12, 2008, trading started on the NASDAQ exchange with the stock ticker RXII. May 2008 saw an investment of $8.5 million from Fidelity Investments. And February 2009 saw a private equity investment of $25 million from Yorkville.

RXI received a $600,000 National Institutes of Health grant in 2010. The company employed 30 employees as of August 2010. In April 2011, RXi obtained funding totaling $580,000 from the National Institutes of Health. In addition to raising around $12 million through a stock sale. For 2011, the business recorded a loss of $11.5 million.

8. Oriental Yuhong

Oriental Yuhong, or Beijing Oriental Yuhong Waterproof Technology Co., Ltd., is a company that offers waterproof system services. Established in 1998, for operations, it mostly creates water-based waterproof coatings. On September 10, 2008, it formally came out publicly on the Shenzhen Stock Exchange. After receiving IPO approval from the China Securities Regulatory Commission.

Final Words

These 8 companies that IPO’d in 2008 and their market capitalizations as of today really show us how volatile the stock market is. If a company doesn’t continue to make money, then they don’t increase its market value. The key to producing long-term growth without fail is to truly innovate and produce better products while keeping your costs down, which should cost you far less in marketing costs.


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