The following IPOs are expected to price this week:
Enduro Royalty Trust (NDRO), which owns an 80% net profit interest in certain Enduro Resource Partners properties, plans to raise $317 million by offering 13,200,000 shares at a price range of $23.00 to $25.00. At the mid-point of the proposed range, Enduro Royalty Trust will command a market value of $792.00 million. Enduro Royalty Trust, which was founded in 2010, booked $186 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol NDRO. Barclays Capital, Citi, and Goldman, Sachs & Co. are the lead underwriters on the deal.Please note: *Financial data is pro forma.
Groupon (GRPN), which is leading e-commerce site used by merchants to offer customers daily discounts, plans to raise $510 million by offering 30,000,000 shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, Groupon will command a market value of $11,229.93 million. Groupon, which was founded in 2008, booked $942 million in sales over the last 12 months. The Chicago, IL-based company plans to list on the NASDAQ under the symbol GRPN. Morgan Stanley, Goldman, Sachs & Co., and Credit Suisse are the lead underwriters on the deal.
Rentech Nitrogen Partners, L.P. (RNF), a spin-off of clean energy firm Rentech's nitrogen fertilizer business, plans to raise $300 million by offering 15,000,000 shares at a price range of $19.00 to $21.00. At the mid-point of the proposed range, Rentech Nitrogen Partners, L.P. will command a market value of $765.00 million. Rentech Nitrogen Partners, L.P., which was founded in 1965, booked $176 million in sales over the last 12 months. The Los Angeles, CA-based company plans to list on the NYSE under the symbol RNF. Morgan Stanley, Credit Suisse are the lead underwriters on the deal.
Renaissance Capital will have Pre-IPO Research available on these upcoming IPOs prior to its pricing.
