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Renaissance Capital's 3Q 2015 Global IPO Review

BUFF

Due to heightened market volatility stemming from economic growth concerns in China and uncertainty surrounding an interest rate hike in the United States, the global IPO market slowed dramatically in the third quarter. IPO issuance stagnated as quarterly proceeds plummeted 77% year-over-year to $13.6 billion, the lowest quarterly proceeds level since the 1Q12. Excluding...read more

US IPO Weekly Recap: "Breaking" news in the IPO market as most deals end down

NK

Breaking news: Two-thirds of this week's IPOs broke issue. Last week, we noted that the recent stretch of strong first-day pops (+26%) with weak follow-through performance (-3%) was likely unsustainable. This week, IPOs averaged a loss of...read more

TerraForm Global prices IPO at $15, in line with revised expectations

TerraForm Global, a SunEdison-backed yieldco that owns renewable energy assets in emerging markets, raised $675 million by offering 45 million shares at $15, in line with the revised expectations it filed Friday morning. The company had originally planned to sell 56.6 million shares at $19-$21. TerraForm Global plans to list on the Nasdaq under the symbol GLBL. J.P. Morgan,...read more

TerraForm Global decreases proposed IPO deal size

TerraForm Global, a sunEdison-backed yieldco that owns renewable energy assets in emerging markets, lowered the proposed deal size for its upcoming IPO on Friday. The Bethesda, MA-based company now plans to raise $675 million by offering 45 million shares at a price of $15. The company had previously filed to offer 57 million shares at a range of $19 to $21. At the midpoint of...read more