IPO News and Updates

10/20/14


Shell Midstream Partners LP, an MLP carved out of Shell to own crude oil and refined products pipelines in the Gulf Coast, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $750 million by offering 37.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, it would command a market value of $2.8 billion. Business Shell Midstream owns interests in four pipelines that operate in Texas, Mississippi and Louisiana and on the East Coast and expects to make additional drop down acquisitions from Shell's (RDS.A) portfolio ...more


Keywords: SHLX, Shell, oil

10/20/14 Analyst IPO Blog


Recruit Holdings (6098.JP), provider of temporary staffing and permanent placement services in Japan and overseas, raised $1.8 billion. The Japan-based company now commands a market value of $16.3 billion and qualifies for inclusion in the Renaissance International IPO ETF at the market's close on October 22, 2014. The Renaissance International IPO ETF (IPOS) is a portfolio of the largest, most liquid non-U.S. listed newly public companies prior to their inclusion in core non-U.S. equity portfolios. International IPOs that pass Renaissance Capital's formulated screening process are w...more


Keywords: 6098.JP, BABA

10/20/14


Sientra, an early-stage producer of silicone gel breast implants, announced terms for its IPO on Monday. The Santa Barbara, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Sientra would command a fully diluted market value of $230 million. Business Sientra received FDA approval in 2012 for its silicone gel breast products that use proprietary branded TRUE texture. Its portfolio of breast implants are offered in over 120 variations to plastic surgeons. The company estimates that the ...more


Keywords: SIEN

10/20/14


Boot Barn Holdings, a western apparel and footwear retailer with 158 stores in the US, announced terms for its IPO on Monday. The Irvine, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, it would command a fully diluted market value of $398 million (enterprise value of $502 million). Business Boot Barn estimates that during calendar year 2013, the US western and work wear markets represented approximately $8 billion and $12 billion in retail sales, respectively. It ...more


Keywords: BOOT, LOCO

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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.

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