The following
IPOs are expected to price this week
:
EQT Midstream Partners
(
EQM
), which operates natural gas transportation and storage systems
in the Appalachian Basin, plans to raise $250 million by offering
12.5 million shares at a price range of $19.00 to $21.00. At the
midpoint of the proposed range, EQT Midstream Partners would
command a market value of $708 million. EQT Midstream Partners,
which was founded in 2012, booked $114 million in sales over the
last 12 months. The Pittsburgh, PA-based company plans to list on
the NYSE under the symbol EQM. Citi and Barclays are the joint
bookrunners on the deal.
Exa Corporation
(
EXA
), which provides performance simulation software for vehicle
manufacturers, plans to raise $75 million by offering 6.3 million
shares at a price range of $11.00 to $13.00. At the midpoint of
the proposed range, Exa Corporation would command a market value
of $177 million. Exa Corporation, which was founded in 1991,
booked $47 million in sales over the last 12 months. The
Burlington, MA-based company plans to list on the NASDAQ under
the symbol EXA. Stifel Nicolaus Weisel is the lead bookrunner on
the deal.
Loyalty Alliance Enterprise
(
LAEC
), a provider of mobile direct marketing and customer loyalty
solutions in China, plans to raise $36 million by offering 5.1
million shares at a price range of $6.00 to $8.00. At the
midpoint of the proposed range, Loyalty Alliance Enterprise would
command a market value of $105 million. Loyalty Alliance
Enterprise, which was founded in 2009, booked $31 million in
sales over the last 12 months. The Hong Kong-based company plans
to list on the NASDAQ under the symbol LAEC. Macquarie Capital
and Needham & Co. are the joint bookrunners on the deal.
ServiceNow
(
NOW
), which provides an on-demand software platform to automate
enterprise IT operations, plans to raise $186 million by offering
11.7 million shares at a price range of $15.00 to $17.00. At the
midpoint of the proposed range, ServiceNow would command a market
value of $2.4 billion. ServiceNow, which was founded in 2004,
booked $150 million in sales over the last 12 months. The San
Diego, CA-based company plans to list on the NYSE under the
symbol NOW. Morgan Stanley, Citi, Deutsche Bank Securities and
Barclays are the joint bookrunners on the deal.
Tesaro
(
TSRO
), which is developing drugs for chemotherapy-induced nausea and
solid tumors, plans to raise $81 million by offering 6.0 million
shares at a price range of $12.00 to $15.00. At the midpoint of
the proposed range, Tesaro would command a market value of $360
million. Tesaro, which was founded in 2010, booked $0 million in
sales over the last 12 months. The Waltham, MA-based company
plans to list on the NASDAQ under the symbol TSRO. Citi, Morgan
Stanley and Leerink Swann are the joint bookrunners on the deal.
Renaissance Capital will have
Pre-IPO Research
available on each of these upcoming IPOs prior to its pricing.