The following IPOs are expected to price this week:
CVR Refining, LP (CVRR), a limited partnership with petroleum refining operations in Kansas and Oklahoma, plans to raise $500 million by offering 20.0 million shares at a price range of $24.00 to $26.00. At the midpoint of the proposed range, CVR Refining, LP would command a market value of $3.7 billion. CVR Refining, LP, which was founded in 2012, booked $6.5 billion in sales over the last 12 months. The Sugar Land, TX-based company plans to list on the NYSE under the symbol CVRR. Credit Suisse, Citi, Barclays and UBS Investment Bank are the joint bookrunners on the deal.
CyrusOne (CONE), a data center REIT carve-out from Cincinnati Bell, plans to raise $281 million by offering 16.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, CyrusOne would command a market value of $1.1 billion. CyrusOne, which was founded in 2000, booked $211 million in sales over the last 12 months. The Carrollton, TX-based company plans to list on the NASDAQ under the symbol CONE. Morgan Stanley, BofA Merrill Lynch, Deutsche Bank and Barclays are the joint bookrunners on the deal.
Norwegian Cruise Line (NCLH), the third largest cruise line operator in North America with 11% share, plans to raise $400 million by offering 23.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Norwegian Cruise Line would command a market value of $3.5 billion. Norwegian Cruise Line, which was founded in 1966, booked $2.3 billion in sales over the last 12 months. The Miami, FL-based company plans to list on the NASDAQ under the symbol NCLH. UBS Investment Bank and Barclays are the joint bookrunners on the deal.
SunCoke Energy Partners LP (SXCP), a producer of high-quality metallurgical coke used in steelmaking, plans to raise $270 million by offering 13.5 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, SunCoke Energy Partners LP would command a market value of $641 million. SunCoke Energy Partners, which was founded in 2012, booked $694 million in sales over the last 12 months. The Lisle, IL-based company plans to list on the NYSE under the symbol SXCP. Barclays, BofA Merrill Lynch, Citi and Credit Suisse are the joint bookrunners on the deal.
USA Compression Partners, LP (USAC), a limited partnership providing natural gas compression services in the U.S, plans to raise $200 million by offering 10.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, USA Compression Partners, LP would command a market value of $573 million. USA Compression Partners, LP, which was founded in 1998, booked $87 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol USAC. Barclays, Goldman Sachs, J.P. Morgan and Wells Fargo Securities 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.
