10/31/14 Analyst IPO Blog
Four IPOs raised $1.2 billion during the past week, the third week in a row with five or less. Year-to-date, the IPO market has seen 235 initial public offerings raise $75 billion. The week's energy, health care, finance and consumer IPOs saw moderate returns, led by the year's largest MLP, Shell Midstream Partners LP, which upsized its $920 million offering and gained 47%. Asset manager Fifth Street came back at a lower valuation but had the fifth-worst first-day performance of 2014, while positive returns from breast implant seller Sientra and western apparel retailer Boot Barn provide ...more
Reval Holdings, which provides treasury and risk management on-demand software, withdrew its plans for an initial public offering on Friday citing poor market conditions. The company originally filed for $75 million in March 2012 and last updated its filing in May 2012.
The New York, NY-based company was founded in 1999 and booked $47 million in sales for the 12 months ended March 31, 2012. BofA Merrill Lynch and Stifel were set to be the joint bookrunners on the deal....more
PolyPid, an early stage drug delivery biotech developing an antibiotic coating for bone repair, announced terms for its IPO on Friday. The Petach Tikva, Israel-based company plans to raise $20 million by offering 1.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, PolyPid would command a fully diluted market value of $107 million.
PolyPid's two lead candidates, BonyPid-1000 and BonyPid-500, combat bacterial infection around implanted bone substitutes (for open bone fractures) and around dental implants by coating the bone substitute with an ...more
Cnova, a French and Brazilian e-commerce site spun out of retail giant Casino, announced terms for its IPO on Friday. The Bordeaux, France-based company plans to raise $355 million by offering 26.8 million shares at a price range of $12.50 to $14.00. At the midpoint of the proposed range, Cnova would command a market value of $5.8 billion. Its parent, Casino, is publicly traded on the Paris Stock Exchange ($9.3 billion market cap).
Cnova was formed when Casino Guichard-Perrachon acquired Brazil's Nova Pontocom and consolidated its online retail subsidiaries. ...more