The following IPOs are expected to price this week:
ARAMARK Holdings (ARMK), a leading global provider of food and facilities management and uniform services, plans to raise $779 million by offering 36.3 million shares at a price range of $20.00 to $23.00. At the midpoint of the proposed range, ARAMARK Holdings would command a market value of $5.3 billion. ARAMARK Holdings, which was founded in 1936, booked $13.9 billion in sales over the last 12 months. The Philadelphia, PA-based company plans to list on the NYSE under the symbol ARMK. Goldman Sachs, J.P. Morgan, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal.
Autohome (ATHM), a leading provider of online auto information, reviews and listings in China, plans to raise $102 million by offering 7.8 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Autohome would command a market value of $1.4 billion. Autohome, which was founded in 2004, booked $172 million in sales over the last 12 months. The Beijing, China-based company plans to list on the NYSE under the symbol ATHM. Deutsche Bank and Goldman Sachs (Asia) are the joint bookrunners on the deal.
CatchMark Timber Trust (CTT), a REIT engaged in the ownership and management of timberlands in the US, plans to raise $150 million by offering 10.5 million shares at a price range of $13.50 to $15.00. At the midpoint of the proposed range, CatchMark Timber Trust would command a market value of $334 million. CatchMark Timber Trust, which was founded in 2005, booked $55 million in sales over the last 12 months. The Norcross, GA-based company plans to list on the NYSE under the symbol CTT. Raymond James, Baird and Stifel are the joint bookrunners on the deal.
Cheniere Energy Partners LP Holdings (CQH), which owns a 55.9% limited partner interest in Cheniere Partners (NYSE: CQP), 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, Cheniere Energy Partners LP Holdings would command a market value of $4.6 billion. Cheniere Energy Partners LP Holdings, which was founded in 2013, booked $269 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol CQH. Goldman Sachs, Morgan Stanley, Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal.
Fidelity & Guaranty Life (FGL), a life insurance provider targeting middle-income Americans, plans to raise $176 million by offering 9.8 million shares at a price range of $17.00 to $19.00. At the midpoint of the proposed range, Fidelity & Guaranty Life would command a market value of $1.0 billion. Fidelity & Guaranty Life, which was founded in 1959, booked $1.3 billion in sales over the last 12 months. The Baltimore, MD-based company plans to list on the NYSE under the symbol FGL. Credit Suisse, J.P. Morgan, Jefferies & Co. and Macquarie Capital are the joint bookrunners on the deal.
Hilton Worldwide (HLT), the world's largest hotel chain, plans to raise $2.2 billion by offering 112.8 million shares at a price range of $18.00 to $21.00. At the midpoint of the proposed range, Hilton Worldwide would command a market value of $19.3 billion. Hilton Worldwide, which was founded in 1919, booked $6.3 billion in sales over the last 12 months. The McLean, VA-based company plans to list on the NYSE under the symbol HLT. Deutsche Bank, Goldman Sachs, BofA Merrill Lynch and Morgan Stanley are the joint bookrunners on the deal.
Kindred Biosciences (KIN), a clinical-stage biotech developing pet therapeutics, plans to raise $40 million by offering 5.8 million shares at a price range of $6.00 to $8.00. At the midpoint of the proposed range, Kindred Biosciences would command a market value of $93 million. Kindred Biosciences, which was founded in 2012, booked $0 million in sales over the last 12 months. The Burlingame, CA-based company plans to list on the NASDAQ under the symbol KIN. BMO Capital Markets and Guggenheim Securities are the joint bookrunners on the deal.
Nimble Storage (NMBL), which sells hybrid flash/disk storage arrays to enterprises, plans to raise $136 million by offering 8.0 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Nimble Storage would command a market value of $1.4 billion. Nimble Storage, which was founded in 2007, booked $104 million in sales over the last 12 months. The San Jose, CA-based company plans to list on the NYSE under the symbol NMBL. Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
Scorpio Bulkers (SALT), a recently formed drybulk shipping company, plans to raise $151 million by offering 15.5 million shares at a price range of $9.75 to $9.75. At the midpoint of the proposed range, Scorpio Bulkers would command a market value of $1.1 billion. Scorpio Bulkers, which was founded in 2013, booked $0 million in sales over the last 12 months. The Monaco-based company plans to list on the NYSE under the symbol SALT. Deutsche Bank, Credit Suisse and RS Platou Markets are the joint bookrunners on the deal.
Valero Energy Partners (VLP), a Valero-backed limited partnership that owns pipeline and logistics assets, plans to raise $300 million by offering 15.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Valero Energy Partners would command a market value of $1.2 billion. Valero Energy Partners, which was founded in 2013, booked $91 million in sales over the last 12 months. The San Antonio, TX-based company plans to list on the NYSE under the symbol VLP. J.P. Morgan, Barclays, Citi and RBC Capital Markets 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 was one IPO pricing. Xencor (XNCR), a biotech developing antibodies for severe autoimmune/allergic diseases and cancer ended up 41% from its IPO price.
