The following IPOs are expected to price this week:
Delek Logistics Partners, LP (DKL), an LP formed by Delek to own crude oil and refined products logistics assets in the southeastern US, plans to raise $160 million by offering 8.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Delek Logistics Partners, LP would command a market value of $240 million. Delek Logistics Partners, LP, which was founded in 2012, booked $888 million in sales over the last 12 months. The Brentwood, TN-based company plans to list on the NYSE under the symbol DKL. BofA Merrill Lynch, Barclays, Goldman Sachs and Wells Fargo Securities are the joint bookrunners on the deal.
Restoration Hardware (RH), a high-end home furnishings retailer with 83 stores in the US and Canada, plans to raise $119 million by offering 5.2 million shares at a price range of $22.00 to $24.00. At the midpoint of the proposed range, Restoration Hardware would command a market value of $850 million. Restoration Hardware, which was founded in 1981, booked $749 million in sales over the last 12 months. The Corte Madera, CA-based company plans to list on the NYSE under the symbol RH. BofA Merrill Lynch and Goldman Sachs are the joint bookrunners on the deal.
Southcross Energy Partners (SXE), which provides natural gas gathering, processing and transportation in the southern US, plans to raise $180 million by offering 9.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Southcross Energy Partners would command a market value of $499 million. Southcross Energy Partners, which was founded in 2009, booked $502 million in sales over the last 12 months. The Dallas, TX-based company plans to list on the NYSE under the symbol SXE. Citi, Wells Fargo Securities, Barclays and J.P. Morgan 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 were 3 IPO pricings. MPLX LP (MPLX), an LP formed by Marathon Petroleum to own and operate crude oil midstream assets, was the week's winner, ending up 24% from its IPO price.
