The following IPOs are expected to price this week:
Lehigh Gas Partners LP (LGP), a wholesale distributor of motor fuels in the US, plans to raise $120 million by offering 6.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Lehigh Gas Partners LP would command a market value of $301 million. Lehigh Gas Partners LP, which was founded in 1992, booked $1.9 billion in sales over the last 12 months. The Allentown, PA-based company plans to list on the NYSE under the symbol LGP. Raymond James, Baird, Oppenheimer & Co. and Janney Montgomery Scott are the joint bookrunners on the deal.
MPLX LP (MPLX), an LP formed by Marathon Petroleum Corporation to own and operate pipelines and other midstream assets, plans to raise $300 million by offering 15.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, MPLX LP would command a market value of $1.5 billion. MPLX LP, which was founded in 2012, booked $426 million in sales over the last 12 months. The Findlay, OH-based company plans to list on the NYSE under the symbol MPLX. UBS Investment Bank, BofA Merrill Lynch, Morgan Stanley and Citi are the joint bookrunners on the deal.
WhiteWave Foods (WWAV), a leading organic dairy and dairy alternatives carve-out from Dean Foods, plans to raise $300 million by offering 20.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, WhiteWave Foods would command a market value of $2.6 billion. WhiteWave Foods, which was founded in 1977, booked $2.2 billion in sales over the last 12 months. The Dallas, TX-based company plans to list on the NYSE under the symbol WWAV. J.P. Morgan, Credit Suisse and BofA Merrill Lynch are the joint bookrunners on the deal.
Renaissance Capital will have Pre-IPO Research available on each of these upcoming IPOs prior to its pricing.
Last week, there was one IPO pricing. Seadrill Partners (SDLP), which owns interests in four offshore drilling rigs ended up 11% from its IPO price.
