The following IPOs are expected to price this week:
Artisan Partners Asset Management (APAM), an equities-focused investment manager with $74 billion under management, plans to raise $322 million by offering 11.5 million shares at a price range of $27.00 to $29.00. At the midpoint of the proposed range, Artisan Partners Asset Management would command a market value of $1.9 billion. Artisan Partners Asset Management, which was founded in 1994, booked $506 million in sales over the last 12 months. The Milwaukee, WI-based company plans to list on the NYSE under the symbol APAM. Citi and Goldman Sachs are the joint bookrunners on the deal.
Professional Diversity Network (IPDN), which provides online networking and job postings for 2 million minorities in the US, plans to raise $20 million by offering 1.8 million shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Professional Diversity Network would command a market value of $60 million. Professional Diversity Network, which was founded in 2000, booked $6 million in sales over the last 12 months. The Chicago, IL-based company plans to list on the NASDAQ under the symbol IPDN. Aegis Capital is the lead bookrunner on the deal.
Renaissance Capital will have Pre-IPO Research available on each of these upcoming IPOs prior to its pricing.
