US IPO filing activity reluctantly recovering since Facebook's IPO; Three US-based S-1 filings last week
Since Facebook's (
) public debut on May 18, only five companies have officially
filed registration statements for a US initial public offering.
This included the only two filings, both from foreign companies,
in the two weeks following Facebook's IPO. National Commercial
Bank Jamaica (
), Jamaica's largest commercial bank,
filed on May 22
and is looking to raise up to $225 million. Cencosud S.A. (
), a multi-brand retailer in South America operating 826 stores
through supermarkets, home improvement stores, shopping centers
and department stores,
filed on May 29
to raise up to $718 million.
Domestic filings post-Facebook IPO came to a halt until iWatt (IWAT), a provider of power management integrated circuits, filed on June 4 to raise up to $75 million. iWatt was the third company to file publicly after using the private review process afforded by the recently passed US JOBS Act. iWatt's filing marked the first US-based company to file for an IPO since CKE ( CK ), Carl's Jr. and Hardee's owner, filed on May 17 to raise up to $100 million. Including iWatt, the last week has seen three filings, the most since Facebook's offering week when Shutterstock ( SSTK ), KYTHERA Biopharmaceuticals (KYTH) and CKE all filed initial offering statements. On Friday, Realogy parent Domus Holdings (DMSH.RC) filed for a $1 billion IPO . Realogy is the world's largest franchisor of residential real estate brokerages and backed by private equity firm Apollo Management and hedge fund Paulson & Co. Finally, Qualys (QLYS) which provides SaaS IT security risk and compliance management solutions, filed on Friday to raise up to $100 million . Both iWatt and Qualys have less than $100 million in trailing twelve month revenue and qualify as emerging growth companies under the JOBS Act.