The following IPOs are expected to price this week:
Alma Maritime Limited, a Greek shipping company that plans to acquire six tankers and one drybulk vessel, plans to raise $225 million by offering 11.3 million shares at a price range of $19-$21. At the mid-point of the proposed range, Alma Maritime will command a market value of $325 million. The Athens-based company plans to list on the NYSE under the symbol AAM. BofA Merrill Lynch and UBS Investment Bank are the lead underwriters on the deal.
Calix Networks, which provides broadband access equipment to small and mid sized service providers, plans to raise $76 million by offering 6.3 million shares at a price range of $11-$13. At the mid-point of the proposed range, Calix will command a market value of $440 million. Calix Networks, which was founded in 1999, booked $233 million in sales last year. The Petaluma, CA-based company plans to list on the NYSE under the symbol CALX. Goldman Sachs, Morgan Stanley and Jefferies are the lead underwriters on the deal.
China Lodging Group, which operates a leading chain of economy hotels in China under the HanTing brand, plans to raise $101 million by offering 9 million shares at a price range of $10.25-$12.25. At the mid-point of the proposed range, China Lodging will command a market value of $680 million. The hotel operator, which was founded in 2007, booked $185 million in sales last year. The Shanghai-based company plans to list on the NASDAQ under the symbol HTHT. Goldman Sachs and Morgan Stanley are the lead underwriters on the deal.
Film Department Holdings, a recently formed independent movie production company, plans to raise $60 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department Holdings will command a market value of $150.00 million. Film Department, which was founded in 2007, booked $40 million in sales last year. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. IPO Solutions is the lead underwriter on the deal.
First Interstate BancSystem, which operates a bank holding company in Montana, Wyoming and South Dakota, plans to raise $131 million by offering 8.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, First Interstate BancSystem will command a market value of $595 million. First Interstate BancSystem, which was founded in 1968, booked $344 million in sales last year. The Billings, MT-based company plans to list on the NASDAQ under the symbol FIBK. Barclays Capital is the lead underwriter on the deal.
MaxLinear, a fabless provider of chips used for broadband video in electronic devices, plans to raise $65 million by offering 5.4 million shares at a price range of $11-$13. At the mid-point of the proposed range, MaxLinear will command a market value of $396 million. MaxLinear, which was founded in 2003, booked $51 million in sales last year. The Carlsbad, CA-based company plans to list on the NYSE under the symbol MXL. Morgan Stanley and Deutsche Bank are the lead underwriters on the deal.
Redgate Media, which provides advertisers with a cross-media platform that reaches 160 cities in China, plans to raise $39 million by offering 3.8 million shares at a price range of $10.50-$12.50. At the mid-point of the proposed range, Redgate Media will command a market value of $115 million. Redgate Media, which was founded in 2003, booked $25 million in sales last year. The Beijing-based company plans to list on the NASDAQ under the symbol RGM. Brean Murray and i-Bankers Securities are the lead underwriters on the deal.
