The following IPOs are expected to price this week:
American Homes 4 Rent (AMH), a REIT that acquires, renovates and leases residential homes in the US, plans to raise $750 million by offering 44.1 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, American Homes 4 Rent would command a market value of $3.9 billion. American Homes 4 Rent, which was founded in 2012, booked $11 million in sales over the last 12 months. The Mailbu, CA-based company plans to list on the NYSE under the symbol AMH. Goldman Sachs, BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities are the joint bookrunners on the deal.
Ardmore Shipping (ASC), which provides seaborne transportation of petroleum products and chemicals worldwide, plans to raise $160 million by offering 10.0 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Ardmore Shipping would command a market value of $289 million. Ardmore Shipping, which was founded in 2010, booked $26 million in sales over the last 12 months. The Cork, Ireland-based company plans to list on the NYSE under the symbol ASC. Morgan Stanley, Jefferies & Co. and Clarkson Capital Markets are the joint bookrunners on the deal.
Athlon Energy (ATHL), an Apollo-backed oil and gas E&P operating in the Permian Basin, plans to raise $300 million by offering 15.8 million shares at a price range of $18.00 to $20.00. At the midpoint of the proposed range, Athlon Energy would command a market value of $1.6 billion. Athlon Energy, which was founded in 2010, booked $179 million in sales over the last 12 months. The Fort Worth, TX-based company plans to list on the NYSE under the symbol ATHL. Citi, Goldman Sachs, BofA Merrill Lynch and UBS Investment Bank are the joint bookrunners on the deal.
China Commercial Credit (CCCR), a microcredit lender to small businesses in the Jiangsu Province of China, plans to raise $18 million by offering 2.7 million shares at a price range of $6.00 to $7.00. At the midpoint of the proposed range, China Commercial Credit would command a market value of $76 million. China Commercial Credit, which was founded in 2008, booked $13 million in sales over the last 12 months. The Wujiang, China-based company plans to list on the NASDAQ under the symbol CCCR. Burnham Securities and Axiom Capital Management are the joint bookrunners on the deal.
Control4 (CTRL), which is leading provider of in-home automation and control solutions, plans to raise $64 million by offering 4.0 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Control4 would command a market value of $404 million. Control4, which was founded in 2003, booked $113 million in sales over the last 12 months. The Salt Lake City, UT-based company plans to list on the NASDAQ under the symbol CTRL. BofA Merrill Lynch and Raymond James are the joint bookrunners on the deal.
Iroko Pharmaceuticals (IRKO), a drug company focused on the development of lower-dose NSAID therapeutics, plans to raise $101 million by offering 6.5 million shares at a price range of $14.00 to $17.00. At the midpoint of the proposed range, Iroko Pharmaceuticals would command a market value of $503 million. Iroko Pharmaceuticals, which was founded in 2007, booked $10 million in sales over the last 12 months. The Philadelphia, PA-based company plans to list on the NASDAQ under the symbol IRKO. Jefferies & Co., William Blair and Canaccord Genuity are the joint bookrunners on the deal.
Marrone Bio Innovations (MBII), a producer of bio-based pest management and plant health products, plans to raise $65 million by offering 4.2 million shares at a price range of $14.00 to $17.00. At the midpoint of the proposed range, Marrone Bio Innovations would command a market value of $286 million. Marrone Bio Innovations, which was founded in 2006, booked $8 million in sales over the last 12 months. The Davis, CA-based company plans to list on the NASDAQ under the symbol MBII. Jefferies & Co. and Piper Jaffray are the joint bookrunners on the deal.
Sprouts Farmers Market (SFM), which operates over 160 natural and organic grocery stores in eight southwestern states, plans to raise $278 million by offering 18.5 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Sprouts Farmers Market would command a market value of $2.3 billion. Sprouts Farmers Market, which was founded in 2002, booked $1.9 billion in sales over the last 12 months. The Phoenix, AZ-based company plans to list on the NASDAQ under the symbol SFM. Goldman Sachs, 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 were 11 IPO pricings. Agios Pharmaceuticals (AGIO), a biotech developing metabolic treatments for cancer and rare genetic diseases, was the week's winner, ending up 59% from its IPO price.
