2 IPOs planned for the week of Mar 15
3/14/2010
The following IPOs are expected to price this week:
Financial Engines, which provides advice and management for employer-sponsored retirement plans, plans to raise $109 million by offering 10,900,000 at a price range of $9.00 to $11.00. At the mid-point of the proposed range, Financial Engines will command a market value of $440.76 million. Financial Engines, which was founded in 1996, booked $85 million in sales over the last 12 months. The Palo Alto, CA-based company plans to list on the NASDAQ under the symbol FNGN. Goldman Sachs, UBS Investment Bank are the lead underwriters on the deal.
Redgate Media, which provides advertisers with a cross-media platform that reaches 160 cities in China, plans to raise $43 million by offering 3,750,000 at a price range of $10.50 to $12.50. At the mid-point of the proposed range, Redgate Media will command a market value of $168.52 million. Redgate Media, which was founded in 2003, booked $25 million in sales over the last 12 months. The Beijing ,China-based company plans to list on the NASDAQ under the symbol RGM. Brean Murray, i-Bankers Securities are the lead underwriters on the deal.
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FNGN
RGM
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Economy hotel chain China Lodging Group sets IPO terms
3/12/2010
China Lodging Group, a leading economy hotel chain in China with three products (HanTing Express, Seasons and Hi Inn), announced terms for its IPO on Friday. The Shanghai-based company plans to raise $101 million by offering 9 million ADSs at a price range of $10.25 to $12.25. At the mid-point of the proposed range, China Lodging will command a market value of $713 million. China Lodging, which was founded in 2007 and booked $185 million in sales last year, plans to list on the NASDAQ under the symbol HTHT. Goldman Sachs and Morgan Stanley are the lead underwriters on the deal, which is expected to price on Thursday, March 25th.
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HTHT
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Business software provider SS&C Technologies announces IPO terms
3/12/2010
SS&C Technologies Holdings, which offers software products that allow financial services providers to automate business processes, announced terms for its IPO on Friday. The Windsor, CT-based company plans to raise $150 million by offering 10.7 million shares at a price range of $13-$15. At the mid-point of the proposed range, SS&C Technologies will command a market value of $969 million. SS&C Technologies , which was founded in 1986 and booked $271 million in sales last year, plans to list on the NASDAQ under the symbol SSNC. J.P. Morgan, Credit Suisse and Morgan Stanley are the lead underwriters on the deal, for which timing was not disclosed.
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SSNC
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Wireless LAN provider Meru Networks sets IPO terms
3/12/2010
Meru Networks, which provides wireless LAN solutions to small and large enterprises, announced terms for its IPO on Friday. The Sunnyvale, CA-based company plans to raise $61 million by offering 4.4 million shares at a price range of $13-$15. At the mid-point of the proposed range, Meru Networks will command a market value of $209 million. Meru Networks, which was founded in 2002 and booked $69 million in sales last year, plans to list on the NASDAQ under the symbol MERU. BofA Merrill Lynch is the lead underwriter on the deal, for which timing was not disclosed.
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MERU
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Primo Water submits filing for $60 million IPO
3/12/2010
Primo Water Corporation, which provides three and five gallon bottles of purified water and water dispensers, filed on Friday with the SEC to raise up to $60 million in an initial public offering. The Winston-Salem, NC-based company, which was founded in 2004 and booked $47 million in sales last year, also provides recycling center displays where consumers receive a recycling ticker that can be used for a discount toward the purchase of their next bottle. Primo Water plans to list its shares on the NASDAQ. Thomas Weisel is the lead underwriter on the deal, for which pricing terms and timing were not disclosed.
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PRMO
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