IPO market showing signs of improvement ahead of Facebook IPO
1/27/2012
So far in 2012, the FTSE Renaissance US IPO Index has run up 10.4% year-to-date, more than double the S&P 500's 4.8% return. This is a good sign for the historically large backlog of companies waiting to go public, which includes 217 companies hoping to raise $50 billion, excluding Facebook's rumored $10 billion deal.
The technology industry has been a major driver of activity, with 54 technology companies in the pipeline. We are expecting 2012 to be a year of recovery for the IPO market led by the Facebook IPO. At a $10 billion expected deal size, Facebook will be the second largest constituent in the FTSE Renaissance US IPO Index.
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Oil and gas E&P Three Rivers files for $300 million US IPO
1/27/2012
Three Rivers Operating Company, an oil and gas E&P operating in Texas and New Mexico, registered with the SEC on Friday for a $300 million initial public offering. The Austin, TX-based company, which was founded in 2010, booked $124 million in sales for the twelve months ended September 30, 2011. The company also reported preliminary financials, with estimated 2011 sales (at the midpoint) increasing 19% to $118 million and net income increasing 23% to $26 million. The primary financial backer is Riverstone/Carlyle Energy Group. Three Rivers plans to list on the New York Stock Exchange under the symbol TROC. Goldman Sachs, J.P. Morgan and Credit Suisse have been chosen to manage the offering.
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TROC
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FX Alliance sets IPO terms, looks to raise $75 million
1/27/2012
FX Alliance, a provider of a foreign exchange trading platform used by institutional investors, announced terms for its IPO on Friday. The New York, NY-based company plans to raise $75 million by offering 5.2 million shares at a price range of $13.50 to $15.50. FX Alliance, which was founded in 2006, plans to list on the NYSE under the symbol FX. BofA Merrill Lynch, Goldman Sachs, Citi and J.P. Morgan are the lead underwriters on the deal.
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FX
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Verastem prices upsized IPO at $10 midpoint
1/26/2012
Verastem, a pre-clinical stage biotech developing stem cell therapies for metastatic cancers, raised $55 million by offering 5.5 shares at $10, at the midpoint of the range of $9 to $11. Verastem plans to list on the NASDAQ under the symbol VSTM. UBS Investment Bank and Leerink Swann acted as lead managers on the deal.
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VSTM
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Supermarket chain Roundy's sets IPO terms, seeking $200 million
1/26/2012
Roundy's, a midwest supermarket chain with 158 stores in Wisconsin, Minnesota and Illinois, announced terms for its IPO on Thursday. The Milwaukee, WI-based company plans to raise $200 million by offering 18 million shares (38% insider) at a price range of $10.00 to $12.00. At the mid-point of the proposed range, Roundy's will command a market value of $456 million. Roundy's operates under the Pick 'n Save, Rainbow, Copps, Metro Market and Mariano's Fresh Market banners. Sales in the most recent quarter rose 4% to $977 million. CEO Robert Mariano and CFO Darren Karst held the same roles at Dominick's Finer Foods, which operated 116 grocery stores at the time of its acquisition by Safeway in 1998. Roundy's, which was founded in 1872, plans to list on the New York Stock Exchange under the symbol RNDY. Credit Suisse, J.P. Morgan, Jefferies, Baird and BMO Capital Markets are the lead underwriters on the deal.
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RNDY
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| Archived News Headlines |
| IntelePeer postpones IPO, citing weak market conditions 1/25/2012 |
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| Ceres sets IPO terms, plans to raise $110 million 1/25/2012 |
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| Guidewire Software prices upsized IPO at $13, above the range 1/24/2012 |
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| Steakhouse operator Del Frisco's Restaurant Group registers for $100 million US IPO 1/24/2012 |
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| ChemoCentryx sets IPO terms, seeking $60 million 1/23/2012 |
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| EPAM Systems sets IPO terms for $126 million offering 1/23/2012 |
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| US IPO Index kicks off 2012 with a bang! 1/23/2012 |
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| Platinum Energy Solutions sets IPO terms, looks to raise $140 million 1/23/2012 |
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| TVAX Biomedical sets IPO terms, seeking $20 million 1/23/2012 |
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| 3 U.S. IPOs planned for the week of Jan 23 1/23/2012 |
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| Significant pricing activity ahead as six companies set IPO terms this week 1/20/2012 |
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| Nationstar Mortgage sees revenues rise 48%, adds underwriter for IPO 1/20/2012 |
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| Zynga quiet period ends January 25 1/20/2012 |
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| Inergy Midstream LP quiet period ends January 25 1/20/2012 |
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| Renewable Energy Group kicks off 2012 IPO market; 10 deals expected to follow suit 1/19/2012 |
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| Oil and natural gas E&P Matador Resources starts roadshow, looks to raise $200 million 1/19/2012 |
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| Annie's and Erickson Air-Crane add underwriters 1/19/2012 |
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| Renewable Energy Group prices IPO at $10.00, below the range 1/19/2012 |
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| Cementos Pacasmayo launches roadshow, seeking $245 million 1/19/2012 |
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| Mid-Con Energy Partners LP quiet period ends January 24 1/19/2012 |
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| Michael Kors Holdings quiet period ends January 24 1/19/2012 |
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