Our Passion for IPOs
News & Views
Largest Global IPOs
Largest US IPOs
Largest US IPOs YTD
Largest US Internet IPOs
Top First Day Returns
US IPO Stats
IPO Average Age
IPO Industry Breakdown
Offer Price Discounts
Global IPO Stats
IPOs by Region
IPO Industry Breakdown
Register for Updates
Press Contact Form
Free iPhone App
Free Android App
IPO News Feed
IPO News Archive
Interested in IPO Investing?
Filing activity suggests an active fall for the energy sector
Analyst IPO Blog
While many companies pushed back plans to launch deals amid extreme market volatility last week, filing activity showed no signs of a slow-down with six new IPOs filing initial S-1's with the SEC on Friday, including three energy companies. So far this year, 17
IPOs have priced
in the energy sector, compared to 18 in all of 2010. The US IPO pipeline now includes 16 energy companies (9% of total IPOs) expected to generate nearly $4 billion in proceeds. This robust pipeline may make
2011 the most active year in a decade for the energy sector
, matching peaks in 2006 and 2007 when 34 and 32 energy IPOs priced, respectively.
Rose Rock Midstream
), a limited partnership recently formed by SemGroup to own and acquire midstream energy assets in the western US,
plans to raise up to $181 million
in its offering. The Tulsa, OK-based company, which was founded in 2011, booked $239 million in sales for the 12 months ended March 31, 2011. Barclays Capital is the lead underwriter on the deal.
), an independent energy company with a focus on unconventional natural gas exploration and production,
plans to raise up to $150 million
in its offering. The recent successful IPO of C&J Energy (
) and the acquisition of Great White Energy show interest in unconventional oil and gas drilling. The Dallas, TX-based company, which was founded in 2003, booked $41 million in sales for the 12 months ended March 31, 2011. RBC Capital Markets and Citigroup are the lead underwriters on the deal.
Mid-Con Energy Partners
), an owner, operator, and developer of primarily oil properties in the central United States,
plans to raise up to $140 million
in its offering. The Tulsa, OK-based company, which was founded in 2011, booked $25 million in sales for the 12 months ended June 30, 2011. RBC Capital Markets is the lead underwriter on the deal.
Also on Friday, LRR Energy (
), an LP formed by Lime Rock Resources to operate oil and gas properties, filed an amendment to its S-1 updating its financials for the June quarter.
Oil and gas stocks were among the biggest gainers as the markets rallied on Monday, with the S&P 500's energy sector up 3%, while crude oil futures rose nearly 3%. The market has proven receptive to energy LPs (
) and trusts (
) and several have traded well because of investor demand for yield. The Alerian MLP Index is down -1% YTD (vs. -4% for the S&P 500), and down -3% since the beginning of June (vs. -10% for the S&P 500).
Keywords / Tickers: Energy IPOs,
Recently Priced IPOs
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:
IPO investment firm Renaissance Capital (www.renaissancecapital.com)
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.
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.
is current value at which an asset or service can be bought or sold.
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 S&P 500® Index (SPX)
is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE. The S&P 500 index components are determined by S&P Dow Jones Indices.
Investments in the
Renaissance IPO ETF, symbol "IPO"
(the “ETF”) and the
Global IPO Fund, symbol "IPOSX"
(the “Mutual Fund”) are subject to investment risk, including possible loss of the principal amounts invested. The ETF and the Mutual Fund (the “Funds”) invest in companies that have recently completed their 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. The Funds may also be subject to information technology risk and small and mid-capitalization company risk due to a greater number of IPOs in these sectors. The Funds may hold securities in the form of Depository Receipts, REITs, Master Limited Partnerships (MLPs) which have greater risks than common shares. The strategy has high portfolio turnover and securities lending risks. ETF returns may not match the return of the respective index. The ETF is classified as a non-diversified investment company and is subject to concentration risk.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with information about the Funds, please visit
. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETF, 1-866-486-6645.
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)
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
© 2014 Renaissance Capital LLC. All rights reserved.