IPO Docket Heats Up

The initial public offering calendar is shifting back into high gear, with 18 U.S. companies expected to debut the next two weeks.

Barring any major hitches for those deals, that would mark the most U.S.-listed IPOs in any two-week period since mid-April.

The increase in activity shows that companies from financial data and services provider Markit Ltd. to renewable-energy business Abengoa Yield PLC remain confident in investor demand for new companies in which to invest. Meanwhile, the next few weeks are short on earnings reports and holidays that can draw investor attention away from IPOs.

"It's a really favorable combination of positive market conditions, a healthy appetite for new issues after a quieter spring and an open four-week period between the Memorial Day and July 4 holidays without the distraction of earnings," said Cully Davis, a managing director in equity capital markets at Credit Suisse Group AG.

Markit expects its June 18 debut will raise up to $1.1 billion on June 18, according to marketing materials for the deal. Abengoa Yield expects its debut will raise up to $624 million after Thursday's close.

Other companies on the docket include MobileIron Inc., which makes tools to help corporate tech departments manage employees' mobile devices, and biopharmaceutical firm ZS Pharma Inc.

It's unlikely every single one of these deals will be a home run for investors, but they'll have the tailwind of broad demand for U.S. stocks that has driven indexes such as the S&P 500 to record highs.

So far in June, the S&P 500 is up about 1.3% while the Russell 2000 index of small companies' shares has rallied 3.2%. Big stock-market swings, which can stymie bankers' and investors' ability to agree on the right price for an IPO, have been notably absent.

A number of recent IPOs have enjoyed healthy demand, such as networking equipment maker Arista Networks Inc., which rose 28% from its June 5 debut through Monday's close. Oil driller Parsley Energy Inc.(PE) has advanced 34% since it went public on May 22.