Register for IPO Updates
US IPO Stats
IPO Industry Breakdown
Largest Global IPOs
Largest US IPOs
IPO News Archive
New Ways to Invest in IPOs - IPO ETFs
7 IPOs planned for the week of Jul 18
Analyst IPO Market Commentary
IPOs are expected to price this week
Apollo Residential Mortgage (
), an Apollo-managed REIT recently formed to invest in residential mortgage assets, plans to raise $200 million by offering 10 million shares at an estimated price of $20 per share. Under the proposed terms, Apollo Residential Mortgage will command a market value of $205 million. Apollo Residential Mortgage was founded in 1990. The New York, NY-based company plans to list on the NYSE under the symbol AMTG. Morgan Stanley, Credit Suisse, and J.P. Morgan are the lead underwriters on the deal.
Francesca's Holdings (
), which operates a chain of trendy women's boutiques with 249 locations in 38 states, plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Francesca's Holdings will command a market value of $681 million. Francesca's Holdings, which was founded in 1999, booked $151 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NASDAQ under the symbol FRAN. Goldman, Sachs & Co., J.P. Morgan, and Jefferies & Co. are the lead underwriters on the deal.
Orchid Island Capital, Inc. (
), a specialty finance company that invests in residential mortgage-backed securities, plans to raise $83 million by offering 7.5 million shares at a price range of $10 to $12. At the mid-point of the proposed range, Orchid Island Capital, Inc. will command a market value of $144 million. Orchid Island Capital, Inc. was founded in 2010. The Vero Beach, FL-based company plans to list on the NYSE under the symbol ORC. Barclays Capital and JMP Securities are the lead underwriters on the deal.
), which sells fashion-forward headphones and related accessories in 70 countries, plans to raise $150 million by offering 8.3 million shares at a price range of $17 to $19. At the mid-point of the proposed range, Skullcandy will command a market value of $514 million. Skullcandy, which was founded in 2003, booked $175 million in sales over the last 12 months. The Park City, UT-based company plans to list on the NASDAQ under the symbol SKUL. BofA Merrill Lynch and Morgan Stanley are the lead underwriters on the deal.
SunCoke Energy (
), the largest independent producer of high-thequality metallurgical coke in the Americas, plans to raise $186 million by offering 11.6 million shares at a price range of $15 to $17. At the mid-point of the proposed range, SunCoke Energy will command a market value of $1.1 billion. SunCoke Energy, which was founded in 1962, booked $533 million in sales over the last 12 months. The Lisle, IL-based company plans to list on the NYSE under the symbol SXC. Credit Suisse, BofA Merrill Lynch, and Goldman, Sachs & Co. are the lead underwriters on the deal.
Xunlei Limited (
), which offers accelerated download software and online video services in China, plans to raise $114 million by offering 7.6 million ADSs at a price range of $14 to $16. At the mid-point of the proposed range, Xunlei Limited will command a market value of $1 billion. Xunlei Limited, which was founded in 2003, booked $47 million in sales over the last 12 months. The Shenzhen-based company plans to list on the NASDAQ under the symbol XNET. J.P. Morgan and Deutsche Bank Securities are the lead underwriters on the deal.
Zillow, Inc. (
), which operates the leading online real estate marketplace in the US, plans to raise $59 million by offering 3.5 million shares at a price range of $16 to $18. At the mid-point of the proposed range, Zillow, Inc. will command a market value of $524 million. Zillow, Inc., which was founded in 2004, booked $36 million in sales over the last 12 months. The Seattle, WA-based company plans to list on the NASDAQ under the symbol Z. Citi is the lead underwriter on the deal.
Renaissance Capital will have
available on these upcoming IPOs prior to its pricing.
Last week, there were 3
. Oiltanking Partners L.P. (
), a Gulf Coast provider of terminaling and storage of energy products, was the week's winner, ending up 11% from its IPO price.
Keywords / Tickers: AMTG, FRAN, ORC, SKUL, SXC,
Recently Priced IPOs
ETF Express Award:
ETFExpress awards are based on a 'peer review system' whereby readers - including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, brokers, custodians and advisers - are invited to elect a 'best in class' in a series of categories via an online survey. In each category, the firms with the most votes at the end of the voting period are subject to a final review by ETFExpress's Senior Editorial team.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.
As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund's average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees.
An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
Definitions: Net Asset Value (NAV) of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is current value at which an asset or service can be bought or sold. Premium/Discount is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The
Renaissance IPO Index® (IPOUSA)
is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The
Renaissance International IPO Index® (IPOXUS)
is a stock market index based upon a portfolio of newly public companies listed on non-U.S. exchanges. The S&P 500® Index (SPX) is a stock market index which includes 500 U.S. listed companies and seeks to capture approximately 80% coverage of available U.S. market capitalization.
Risk Disclosure: Investments in the
Renaissance IPO ETF, symbol "IPO"
Renaissance International IPO ETF, symbol "IPOS"
(the "ETFs"), and the
Global IPO Fund, symbol "IPOSX"
(the "Mutual Fund") are subject to investment risk, including possible loss of the principal amounts invested. The ETFs and the Mutual Fund (the "Funds") invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. Due to a greater number of IPOs in certain segments, the Funds may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The Funds may hold securities in the form of Depository Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.
Prospectus: Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with this and other information, please visit
. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETFs, 1-866-486-6645.
Definitions: The Renaissance IPO Index® is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The S&P 500® Index is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.
The information contained herein is proprietary and copyrighted. The media is welcome to use our information and ideas, provided that the following sourcing is included: Renaissance Capital - manager of IPO-focused ETFs.
The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO), the Renaissance International IPO ETF (symbol: IPOS), or the Global IPO Fund (symbol: IPOSX), may have investments in securities of companies mentioned.
Register for Updates
Renaissance Capital LLC is an SEC-registered investment adviser.
Renaissance Capital Investments, Inc. is a
-registered broker-dealer, and member of
© 2016 Renaissance Capital LLC. All rights reserved.