The following IPOs are expected to price this week:
(IFM) Century 21 China (CTC), which provides real estate services and franchises the Century 21 brand in China, plans to raise $162 million by offering 16.7 million shares at a price range of $8.75-$10.75. At the mid-point of the proposed range, the real estate company will command a market value of $446 million. (IFM) Century 21 China, which was founded in 2000, booked $74 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol CTC. Goldman Sachs, Morgan Stanley, and William Blair are the lead underwriters on the deal.
Andatee China Marine Fuel (AMCF), which produces and sells blended marine fuel oil for cargo and fishing vessels in China, plans to raise $18 million by offering 2.5 million shares at a price range of $6-$8. At the mid-point of the proposed range, Andatee will command a market value of $60 million. Andatee China Marine Fuel, which was founded in 2001, booked $87 million in sales over the last 12 months. The company plans to list on the NASDAQ under the symbol AMCF. Rodman & Renshaw and Newbridge Securities are the lead underwriters on the deal.
China Electric Motor (CELM), which produces micro-motor products for household appliances, vehicles and other consumer devices, plans to raise $26 million by offering 2.3 million shares at a price range of $6-$7. At the mid-point of the proposed range, the company will command a market value of $102 million. China Electric Motor, which was founded in 2007, booked $69 million in sales over the last 12 months. The Shenzhen-based company plans to list on the NASDAQ under the symbol CELM. Roth Capital and Westpark Capital are the lead underwriters on the deal.
China Hydroelectric (CHC), which acquires and operates small hydropower plants in China, plans to raise $80 million by offering 3.1 million shares at a price range of $15-$17. At the mid-point of the proposed range, China Hydroelectric will command a market value of $799 million. The company, which was founded in 2006 and booked $35 million in sales over the last 12 months, plans to list on the NYSE under the symbol CHC. Broadband Capital, i-Bankers Securities, and Merriman Curhan Ford are the lead underwriters on the deal.
Daqo New Energy (DQ), a China-based manufacturer of polysilicon for solar power applications, plans to raise $88 million by offering 6.5 million shares at a price range of $12.50-$14.50. At the mid-point of the proposed range, Daqo will command a market value of $384.26 million. Daqo New Energy, which was founded in 2007 and booked $116 million in sales over the last 12 months, plans to list on the NYSE under the symbol DQ. Piper Jaffray is the lead underwriter on the deal.
FriendFinder Networks (FFN), an online adult social networking and multimedia entertainment company, plans to raise $220 million by offering 20 million shares at a price range of $10-$12. At the mid-point of the proposed range, FriendFinder will command a market value of $466 million. FriendFinder Networks, which was founded in 1993, booked $331 million in sales over the last 12 months. The Boca Raton, FL-based company plans to list on the NYSE under the symbol FFN. RenCap Securities and Ledgemont Capital Group are the lead underwriters on the deal.
Terreno Realty Corp. (TRNO), a newly organized REIT targeting industrial real estate in six coastal U.S. markets, plans to raise $200 million by offering 15 million shares at a price of $20 per share. At the mid-point of the proposed range, Terreno will command a market value of $212.49 million. The industrial REIT, which was founded in 2009 and has no operating history to date, plans to list on the NYSE under the symbol TRNO. Goldman Sachs is the lead underwriter on the deal.
Terreno, China Hydroelectric and Andatee all pushed their pricings to this week after originally scheduling their pricing dates for last Thursday, Jan. 21.
