The following
IPOs are expected to price this week
:
Acquity Group
(
AQ
), which provides e-commerce and online marketing consulting for
consumer brands, plans to raise $50 million by offering 5.6
million shares at a price range of $8.00 to $10.00. At the
midpoint of the proposed range, Acquity Group would command a
market value of $212 million. Acquity Group, which was founded in
2001, booked $107 million in sales over the last 12 months. The
Hong Kong-based company plans to list on the NYSE under the
symbol AQ. Citi and Oppenheimer & Co. are the joint
bookrunners on the deal.
Ares Commercial Real Estate
(ACRE), an Ares Management-owned REIT focused on middle-market
commercial real estate assets, plans to raise $150 million by
offering 7.7 million shares at a price range of $19.00 to $20.00.
At the midpoint of the proposed range, Ares Commercial Real
Estate would command a market value of $180 million. Ares
Commercial Real Estate, which was founded in 2011, plans to list
on the NYSE under the symbol ACRE. Wells Fargo Securities, Citi,
BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on
the deal.
China Auto Rental
(CARH), which operates the largest car rental service in China,
plans to raise $127 million by offering 11.0 million shares at a
price range of $10.50 to $12.50. At the midpoint of the proposed
range, China Auto Rental would command a market value of $847
million. China Auto Rental, which was founded in 2007, booked
$123 million in sales over the last 12 months. The Beijing,
China-based company plans to list on the NASDAQ under the symbol
CARH. Morgan Stanley, J.P. Morgan and BofA Merrill Lynch are the
joint bookrunners on the deal.
Edgen Group
(EDG), a global distributor of specialty products to the oil and
natural gas markets, plans to raise $225 million by offering 15.0
million shares at a price range of $14.00 to $16.00. At the
midpoint of the proposed range, Edgen Group would command a
market value of $643 million. Edgen Group, which was founded in
2005, booked $1.7 billion in sales over the last 12 months. The
Baton Rouge, LA-based company plans to list on the NYSE under the
symbol EDG. Jefferies & Co., Morgan Stanley and Citi are the
joint bookrunners on the deal.
Enerkem
(NRKM), which has developed a process that converts municipal
waste into cellulosic ethanol, plans to raise $131 million by
offering 7.3 million shares at a price range of $17.00 to $19.00.
At the midpoint of the proposed range, Enerkem would command a
market value of $534 million. Enerkem, which was founded in 2000,
booked $3 million in sales over the last 12 months. The Montreal,
Canada-based company plans to list on the NASDAQ under the symbol
NRKM. Goldman Sachs, Credit Suisse and BMO Capital Markets are
the joint bookrunners on the deal.
Envivio
(
ENVI
), which enables network providers to deliver high-quality video
across multiple devices, plans to raise $85 million by offering
7.8 million shares at a price range of $10.00 to $12.00. At the
midpoint of the proposed range, Envivio would command a market
value of $325 million. Envivio, which was founded in 2000, booked
$51 million in sales over the last 12 months. The South San
Francisco, CA-based company plans to list on the NASDAQ under the
symbol ENVI. Goldman Sachs, Deutsche Bank Securities and Stifel
Nicolaus Weisel are the joint bookrunners on the deal.
Luca Technologies
(LUCA), which uses biotechnology to create and produce coalbed
methane (natural gas), plans to raise $102 million by offering
8.5 million shares at a price range of $11.00 to $13.00. At the
midpoint of the proposed range, Luca Technologies would command a
market value of $352 million. Luca Technologies, which was
founded in 2003, booked $1 million in sales over the last 12
months. The Golden, CO-based company plans to list on the NASDAQ
under the symbol LUCA. Citi, Piper Jaffray and Raymond James are
the joint bookrunners on the deal.
Supernus Pharmaceuticals
(SUPN), a former Shire subsidiary developing improved drug
formulations for epilepsy and ADHD, plans to raise $75 million by
offering 5.8 million shares at a price range of $12.00 to $14.00.
At the midpoint of the proposed range, Supernus Pharmaceuticals
would command a market value of $263 million. Supernus
Pharmaceuticals, which was founded in 2005, booked $1 million in
sales over the last 12 months. The Rockville, MD-based company
plans to list on the NASDAQ under the symbol SUPN. Citi and Piper
Jaffray 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.
Last week, there were 6
IPO pricings
. Splunk (SPLK), which provides software for large scale indexing
of unstructured data, was the week's winner, ending up 113% from
its IPO price.