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Recent large company filings pump up the IPO pipeline
8/15/2012 5:51:00 PM
By: Renaissance Capital
As we recently noted,
private companies have been capitalizing on
confidential US filings
which has lead to a reduction in "public filings" and
US IPO pipeline
. However, since most if not all of the smaller companies have
chosen to pursue its registration confidentially, larger
companies have begun to fill out the pipeline. Since April, there
have been 37 US IPO filings, of which 13 are believed to be
seeking more than $300 million and six that could seek close to
$1 billion or more.
Over the past week, Lehman Brothers' biggest property holding Archstone (ASN) and Pfizer's animal health unit Zoetis (ZOET.RC) filed for initial public offerings. While both S-1s indicated that they were seeking to raise $100 million, that number is merely a placeholder and both IPOs have the potential to raise $1 billion or more. In total, the recent influx of large filings has created a pipeline of roughly 20 companies looking to raise more than $500 million; more than half of these have submitted new or amended filings within the last 90 days.