MGP News

With the S&P 500 at record highs and average IPO returns handily beating the broad market indices, the US IPO market should have produced high levels of issuance in 2016. Instead, proceeds fell to their lowest level since 2003 and activity was the worst since 2009. This seemingly contradictory year can be explained in part by the market freefall in the 1Q that resulted in...read more

After Bats Global Markets (BATS) successful IPO last week (+21% first day), three more large, revenue producing companies raised $1.3 billion this week, more than doubling this year’s proceeds. Following Bats's lead, MGM Growth Properties and American Renal Associates also priced above the midpoint and traded up on their debuts, marking...read more

MGM Growth Properties LLC, an MGM Resorts-backed REIT with an initial portfolio of 10 gaming properties, raised $1.05 billion by offering 50 million shares at $21, the high end of the range. MGM Growth Properties represents the largest IPO since First Data raised $2.56 billion six months ago in October. The REIT's $1.05 billion deal size is larger than the combined proceeds...read more

After Bats successfully priced its upsized IPO (+21% first day), the market will be tested again in the week ahead with three additional large, established businesses coming to market. If all three price successfully, this would provide solid momentum for the IPO market heading into May and June, two of the most active months of the past ten years with 15+ deals a month on...read more