The rest of the US IPO market may have had trouble, but one state was on fire: Texas. Fifteen companies based in the Lone Star State went public in 2011, with an aggregate capital raise of $6.95 bn. That’s up from four IPOs in 2010, worth a comparatively meager $331.5 mn. Of course, even 2011 falls short of the state’s 1999 peak of 29 IPOs … although that year’s aggregate value was only $6.4 bn.

Texas’ success in 2011 was driven largely by two companies: Kinder Morgan and Freescale Semiconductor. Kinder Morgan was the second largest IPO of the year, behind HCA Holdings, raising $3.3 bn in capital.

Already, almost a dozen Texas companies are in the IPO pipeline, according to, and one of them, Nationstar Mortgage Holdings, is set to go public this week.

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