The following IPOs are expected to price this week:
AVEO Pharmaceuticals, which is developing a renal cell carcinoma drug similar to blockbuster Avastin, plans to raise $98 million by offering 7 million shares at a price range of $13-$15. At the mid-point of the proposed range, AVEO Pharmaceuticals will command a market value of $387.03 million. AVEO, which was founded in 2001, booked $21 million in sales over the last 12 months. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol AVEO. J.P. Morgan and Morgan Stanley are the lead underwriters on the deal.
Baltic Trading Limited, which was formed by Genco Shipping to acquire a spot market focused drybulk fleet, plans to raise $245 million by offering 16.3 million shares at a price range of $14-$16. At the mid-point of the proposed range, Baltic Trading will command a market value of $337 million. The New York, NY-based company plans to list on the NYSE under the symbol BALT. Morgan Stanley and Dahlman Rose & Co are the lead underwriters on the deal.
Crude Carriers, a newly formed shipping business focused on the crude tanker industry and managed by Capital Maritime, plans to raise $270 million by offering 13.5 million shares at a price range of $19-$21. At the mid-point of the proposed range, Crude Carriers will command a market value of $310 million. The Greece-based company plans to list on the NYSE under the symbol CRU. UBS Investment Bank, BofA Merrill Lynch and Wells Fargo Securities are the lead underwriters on the deal.
Sensata Technologies, Texas Instruments' former sensors and controls business acquired by Bain Capital, plans to raise $600 million by offering 31.6 million shares at a price range of $18-$20. At the mid-point of the proposed range, Sensata Technologies will command a market value of $3.4 billion. Sensata Technologies, which was founded in 1916, booked $1.1 billion in sales over the last 12 months. The Attleboro, MA-based company plans to list on the NYSE under the symbol ST. Morgan Stanley, Barclays Capital and Goldman Sachs are the lead underwriters on the deal.
