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Three-Way Spill In money terms, 1997 goes down as the third-biggest year ever for initial public stock offerings. Nearly 600 companies-more than two per trading day-debuted last year, raising $40 billion. According to an analysis by McKinley Capital, a money-management outfit, the 10 best performers gained an average of 246 percent from their IPO prices and nearly 170 percent from their open-market prices at the close of their first trading days. (These are relative to their year-closing prices.)
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