By Russ Wiles | The Arizona Republic
Arizona is becoming more relevant in the stock market again, thanks largely to real estate.
The number of public corporations headquartered in Arizona is growing for the first time in three years, helped by a spate of initial public offerings — including two so far this month.
Is it the start of a trend? That’s hard to say. There hasn’t been much of an overall spike lately in the number of U.S. companies selling shares for the first time despite a relentless climb for the stock market — the type of bullish backdrop that normally drives the new-issue market.
But the two recent deals and a third in April have boosted Arizona’s flagging list of public companies.
Those three new players come in addition to three other Arizona IPOs in 2012 and the relocation of a homebuilder to Arizona from Florida.
