Polar Star Realty Trust, a REIT formed to own office and industrial property in Norway and Sweden, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $500 million by offering 43.5 million shares at a price range of $10 to $13. At the midpoint of the proposed range, Polar Star Realty Trust would command a fully diluted market value of $800 million.
The year's two largest REIT IPOs, Paramount Group ([PGRE]) and STORE Capital ([STOR]), priced last week and trade up 5% and 7% respectively.
Polar Star Realty Trust, which was founded in 1999 and ...more
11/21/14 Analyst IPO Blog
9 companies went public in the past week as the IPO market raised $3.5 billion. At 26 deals, November issuance fell one IPO short of last year, unless CVSL manages to price next week. November IPOs raised $7.2 billion and averaged 19% from the offer price, including 4% after the first day. Two companies rose over 100% on their debut, the sixth and seventh IPOs of 2014 to do so.
Retinal implant maker Second Sight Medical Products spiked 122% on its first day and fast casual burger chain The Habit ...more
Neff, which rents heavy equipment in the Sunbelt region, raised $157 million by offering 10.5 million shares at $15, below the range of $20 to $22. Neff plans to list on the NYSE under the symbol [NEFF]. Morgan Stanley, Jefferies & Co., Piper Jaffray and BofA Merrill Lynch acted as lead managers on the deal....more
Peak Resorts, which operates 13 overnight-drive and day-ski resorts in the Northeast and Midwest, raised $90 million by offering 10 million shares at $9, at the low end of the range of $9 to $11. Peak Resorts plans to list on the NASDAQ under the symbol [SKIS]. Peak Resorts initially filed confidentially on 9/12/2014. FBR Capital Markets, Stifel and Baird acted as lead managers on the deal....more