The following
IPOs are expected to price this week:
Aeroflex Holding (
ARX), which provides specialized chips and test equipment for aerospace/defense and wireless, plans to raise $250 million by offering 17.25 million shares at a price range of $13.50-$15.50. At the mid-point of the proposed range, Aeroflex will command a market value of $1.2 billion. Aeroflex, which was founded in 2007, booked $655 million in sales over the last 12 months. The Plainview, NY-based company plans to list on the NYSE under the symbol ARX. Goldman, Sachs & Co., Credit Suisse and J.P. Morgan are the lead underwriters on the deal.
Anacor Pharmaceuticals (
ANAC), which is developing treatments for nail fungus and psoriasis using boron-based chemistry, plans to raise $80 million by offering 4.7 million shares at a price range of $16-$18. At the mid-point of the proposed range, Anacor Pharmaceuticals will command a market value of $318 million. Anacor Pharmaceuticals, which was founded in 2000, booked $15 million in sales over the last 12 months. The Palo Alto, CA-based company plans to list on the NASDAQ under the symbol ANAC. Citi and Deutsche Bank Securities are the lead underwriters on the deal.
Bitauto Holdings Limited (
BITA), which is the leading provider of online advertising services for China's automotive industry, plans to raise $117 million by offering 10.6 million ADSs at a price range of $10-$12. At the mid-point of the proposed range, Bitauto will command a market value of $454 million. Bitauto Holdings Limited, which was founded in 2000, booked $44 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol BITA. Citi and UBS Investment Bank are the lead underwriters on the deal.
Booz Allen Hamilton (
BAH), which is the leading provider of management and IT consulting services to the US government, plans to raise $252 million by offering 14 million shares at a price range of $17-$19. At the mid-point of the proposed range, Booz Allen Hamilton will command a market value of $2.4 billion. Booz Allen Hamilton, which was founded in 1914, booked $5.2 billion in sales over the last 12 months. The McLean, VA-based company plans to list on the NYSE under the symbol BAH. Morgan Stanley and Barclays Capital are the lead underwriters on the deal.
Caesars Entertainment (
CZR), the world's largest casino entertainment provider owned by Apollo and TPG Capital, plans to raise $500 million by offering 31.25 million shares at a price range of $15-$17. At the mid-point of the proposed range, Caesars Entertainment will command a market value of $5.5 billion. Caesars Entertainment, which was founded in 1989, booked $8.9 billion in sales over the last 12 months. The Las Vegas, NV-based company plans to list on the NASDAQ under the symbol CZR. Citi, Credit Suisse and BofA Merrill Lynch are the lead underwriters on the deal.
General Motors (
GM), the world's second largest automaker by volume, plans to raise $10 billion by offering 365 million shares at a price range of $26-$29. At the mid-point of the proposed range, General Motors will command a market value of $50.6 billion. General Motors, which was founded in 1908, booked $124 billion in sales over the last 12 months. The Detroit, MI-based company plans to list on the NYSE under the symbol GM. Morgan Stanley, J.P. Morgan and BofA Merrill Lynch are the lead underwriters on the deal.
Lizhan Environmental Corporation (
LZEN), which sells synthetic leather to furniture, automotive upholstery and garment manufacturers, plans to raise $10 million by offering 2.9 million shares at a price range of $3-$4. At the mid-point of the proposed range, Lizhan Environmental will command a market value of $71 million. Lizhan Environmental, which was founded in 2005, booked $40 million in sales over the last 12 months. The Zhejiang Province-based company plans to list on the NYSE under the symbol LZEN. Maxim Group LLC is the lead underwriter on the deal.
LPL Investment Holdings (
LPLA), the largest independent broker/dealer in the US supporting 12,000 financial advisors, plans to raise $445 million by offering 15.6 million shares at a price range of $27-$30. At the mid-point of the proposed range, LPL Investment Holdings will command a market value of $3.3 billion. LPL Investment, which was founded in 1989, booked $3 billion in sales over the last 12 months. The Boston, MA-based company plans to list on the NASDAQ under the symbol LPLA. Goldman, Sachs & Co., Morgan Stanley and BofA Merrill Lynch are the lead underwriters on the deal.
Wave2Wave Communications (
WAV), a U.S.-based telecom reseller expanding into multi-tenant 4G wireless, plans to raise $18 million by offering 4.4 million shares at $4 per share. At the proposed price, Wave2Wave Communications will command a market value of $53 million. Wave2Wave Communications, which was founded in 1999, booked $136 million in sales over the last 12 months. The Hackensack, NJ-based company plans to list on the NYSE under the symbol WAV. Rodman & Renshaw and Sunrise Securities Corp. are the lead underwriters on the deal.
Zogenix (
ZGNX), which recently launched Sumavel DosePro, a needle-free injectable migraine treatment, plans to raise $78 million by offering 6 million shares at a price range of $12-$14. At the mid-point of the proposed range, Zogenix will command a market value of $315 million. Zogenix, which was founded in 2006, booked $8 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol ZGNX. Wells Fargo Securities and Leerink Swann are the lead underwriters on the deal.
Last week, there were 4
IPO pricings. Noah Holdings (
NOAH), a Sequoia-backed provider of private wealth management products in China, was the week's winner, ending up 38% from its IPO price.