The following IPOs are expected to price this week:
BATS Global Markets (BATS), which operates equities and options exchanges in the US and Europe, plans to raise $107 million by offering 6.3 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, BATS Global Markets would command a market value of $817 million. BATS Global Markets, which was founded in 2005, booked $927 million in sales over the last 12 months. The Lenexa, KS-based company plans to list on one of its own exchanges, the BZX, under the symbol BATS. Morgan Stanley, Citi and Credit Suisse are the lead underwriters on the deal.
Caesarstone Sdot-Yam (CSTE), an Israeli manufacturer of premium engineered quartz kitchen countertops, plans to raise $100 million by offering 6.7 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Caesarstone Sdot-Yam would command a market value of $485 million. Caesarstone Sdot-Yam was founded in 1987. The Israel-based company plans to list on the NASDAQ under the symbol CSTE. J.P. Morgan, Barclays Capital and Credit Suisse are the lead underwriters on the deal.
ExactTarget (ET), which provides on-demand interactive marketing solutions to 4,700 clients, plans to raise $136 million by offering 8.5 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, ExactTarget would command a market value of $1.16 billion. ExactTarget was founded in 2000. The Indianapolis, IN-based company plans to list on the NYSE under the symbol ET. J.P. Morgan, Deutsche Bank Securities and Stifel Nicolaus Weisel are the lead underwriters on the deal.
Vantiv (VNTV), which provides payment processing services to merchants and financial institutions, plans to raise $500 million by offering 29.4 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Vantiv would command a market value of $3.65 billion. Vantiv, which was founded in 1971, booked $1.62 billion in sales over the last 12 months. The Symmes Township, OH-based company plans to list on the NYSE under the symbol VNTV. J.P. Morgan, Morgan Stanley and Credit Suisse are the lead underwriters on the deal.
Vipshop Holdings Limited (VIPS), which operates a leading retail "flash sales" website in China, plans to raise $106 million by offering 11.2 million shares at a price range of $8.50 to $10.50. At the midpoint of the proposed range, Vipshop Holdings Limited would command a market value of $463 million. Vipshop Holdings Limited, which was founded in 2008, booked $227 million in sales over the last 12 months. The Guangzhou, China-based company plans to list on the NYSE under the symbol VIPS. Goldman Sachs and Deutsche Bank Securities are the lead underwriters on the deal.
Whiting USA Trust II (WHZ), a trust formed by Whiting Petroleum to own interests in oil and natural gas assets, plans to raise $320 million by offering 16.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Whiting USA Trust II would command a market value of $368 million. Whiting USA Trust II was founded in 2011. The Austin, TX-based company plans to list on the NYSE under the symbol WHZ. Raymond James and Morgan Stanley are the lead underwriters on the deal.
Renaissance Capital will have Pre-IPO Research available on each of these upcoming IPOs prior to its pricing.
Last week, there were 4 IPO pricings. Demandware (DWRE), which provides an on-demand e-commerce platform for retailers and consumer brands, was the week's winner, ending up 69% from its IPO price.
