Cautious optimism for IPOs in 2002

The market for initial public offerings (IPOs) - the flotations that take private companies onto public stock exchanges - is picking up, according to consultants at KPMG.

The companies lining up to go public in 2002 are likely to be a diverse group. They do include technology plays such as Inmarsat (satellite communications), UbiNetics (wireless connectivity), Yell Group (directories) and YesTV (video-on-demand).

However, notable is the absence of dot-com start-ups, the type of internet-oriented businesses that were funded, started up and floated during the 1997-2000 'bubble' period.

Instead, experts say, the emphasis is on solid businesses with recognised executives and brands, and - not a word associated with the dot-com boom - profits.