The following IPOs are expected to price this week:
China Commercial Credit (CCCR), a microcredit lender to small businesses in the Jiangsu Province of China, plans to raise $13 million by offering 1.9 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 $71 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.
Cvent (CVT), a leading cloud-based event management software provider, plans to raise $101 million by offering 5.6 million shares at a price range of $17.00 to $19.00. At the midpoint of the proposed range, Cvent would command a market value of $744 million. Cvent, which was founded in 1999, booked $90 million in sales over the last 12 months. The McLean, VA-based company plans to list on the NYSE under the symbol CVT. Morgan Stanley and Goldman Sachs are the joint bookrunners on the deal.
Fox Factory Holding (FOXF), which makes high-performance suspension products for bikes and off-road vehicles, plans to raise $120 million by offering 8.6 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Fox Factory Holding would command a market value of $531 million. Fox Factory Holding, which was founded in 1975, booked $245 million in sales over the last 12 months. The Scotts Valley, CA-based company plans to list on the NASDAQ under the symbol FOXF. Baird, William Blair and Piper Jaffray are the joint bookrunners on the deal.
Frank's International (FI), a global provider of tubular services to the oil and gas industry, plans to raise $600 million by offering 30.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Frank's International would command a market value of $4.1 billion. Frank's International, which was founded in 1938, booked $1.1 billion in sales over the last 12 months. The Amsterdam, Netherlands-based company plans to list on the NYSE under the symbol FI. Barclays, Credit Suisse and Simmons & Co. are the joint bookrunners on the deal.
Independence Realty Trust (IRT), a REIT that owns eight apartment properties, plans to raise $42 million by offering 4.0 million shares at a price range of $10.00 to $11.00. At the midpoint of the proposed range, Independence Realty Trust would command a market value of $101 million. Independence Realty Trust, which was founded in 2009, booked $16 million in sales over the last 12 months. The Philadelphia, PA-based company plans to list on the NYSE under the symbol IRT. Ladenburg Thalmann & Co., William Blair, JMP Securities and Compass Point are the joint bookrunners on the deal.
Intrexon (XON), which is developing synthetic biology technologies, plans to raise $125 million by offering 8.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Intrexon would command a market value of $1.4 billion. Intrexon, which was founded in 1998, booked $16 million in sales over the last 12 months. The Germantown, MD-based company plans to list on the NYSE under the symbol XON. J.P. Morgan and Barclays are the joint bookrunners on the deal.
MiX Telematics (MIXT), a leading global provider of fleet management SaaS solutions, plans to raise $94 million by offering 6.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, MiX Telematics would command a market value of $500 million. MiX Telematics, which was founded in 1996, booked $118 million in sales over the last 12 months. The Midrand, South Africa-based company plans to list on the NYSE under the symbol MIXT. Raymond James and William Blair are the joint bookrunners on the deal.
QEP Midstream Partners, LP (QEPM), a QEP Resources-backed limited partnership that owns midstream assets in Wyoming, Colorado, Utah and North Dakota, plans to raise $400 million by offering 20.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, QEP Midstream Partners, LP would command a market value of $1.1 billion. QEP Midstream Partners, LP, which was founded in 2013, booked $160 million in sales over the last 12 months. The Denver, CO-based company plans to list on the NYSE under the symbol QEPM. Wells Fargo Securities, Morgan Stanley, Citi and Deutsche Bank are the joint bookrunners on the deal.
Stock Building Supply (STCK), which manufactures and distributes wood products in the US, plans to raise $150 million by offering 8.8 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Stock Building Supply would command a market value of $439 million. Stock Building Supply, which was founded in 1922, booked $1.0 billion in sales over the last 12 months. The Raleigh, NC-based company plans to list on the NASDAQ under the symbol STCK. Goldman Sachs, Barclays and Citi are the joint bookrunners on the deal.
World Point Terminals, LP (WPT), an LP formed to own, operate, develop and acquire storage terminals for light refined products, heavy refined products and crude oil, plans to raise $175 million by offering 8.8 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, World Point Terminals, LP would command a market value of $659 million. World Point Terminals, LP, which was founded in 2013, booked $74 million in sales over the last 12 months. The St. Louis, MO-based company plans to list on the NYSE under the symbol WPT. BofA Merrill Lynch is the lead manager on the deal.
YuMe (YUME), a leading online video advertising network, plans to raise $65 million by offering 5.0 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, YuMe would command a market value of $453 million. YuMe, which was founded in 2004, booked $123 million in sales over the last 12 months. The Redwood City, CA-based company plans to list on the NYSE under the symbol YUME. Citi, Deutsche Bank and Barclays 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 6 IPO pricings. Sprouts Farmers Market (SFM), which operates over 160 natural and organic grocery stores in eight southwestern states, was the week's winner, ending up 122% from its IPO price.
