The following IPOs are expected to price this week:
Express (EXPR), Limited Brands' specialty retailer targeting young men and women, plans to raise $304 million by offering 16 million shares at a price range of $18-$20. At the mid-point of the proposed range, Express will command a market value of $1.7 billion. Express, which was founded in 1980, booked $1.7 billion in sales last year. The Columbus, OH-based company plans to list on the NYSE under the symbol EXPR. BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal.
JinkoSolar Holding (JKS), a China-based manufacturer of silicon wafers, solar cells and solar modules, plans to raise $70 million by offering 5.8 million shares at a price range of $11-$13. At the mid-point of the proposed range, JinkoSolar Holding will command a market value of $261 million. JinkoSolar, which was founded in 2006, booked $224 million in sales last year. The Jiangxi Province ,China-based company plans to list on the NYSE under the symbol JKS. Credit Suisse is the lead underwriter on the deal.
Niska Gas Storage Partners LLC (NKA), the largest independent operator of natural gas storage assets in North America, plans to raise $368 million by offering 17.5 million shares at a price range of $20-$22. At the mid-point of the proposed range, Niska Gas Storage Partners LLC will command a market value of $1.4 billion. Niska Gas Storage Partners LLC, which was founded in 2006, booked $181 million in sales last year. The Houston, TX-based company plans to list on the NYSE under the symbol NKA. Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal.
Noranda Aluminum Holding (NOR), a vertically integrated producer of value-added aluminum products, plans to raise $250 million by offering 16.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, Noranda Aluminum Holding will command a market value of $935 million. Noranda Aluminum Holding, which was founded in 2007, booked $770 million in sales last year. The Franklin, TN-based company plans to list on the NYSE under the symbol NOR. BofA Merrill Lynch, Morgan Stanley and Credit Suisse are the lead underwriters on the deal.
Roadrunner Transportation Systems (RRTS), a leading non-asset based transportation and logistics services provider, plans to raise $159 million by offering 10.6 million shares at a price range of $14-$16. At the mid-point of the proposed range, Roadrunner Transportation Systems will command a market value of $467 million. Roadrunner Transportation Systems, which was founded in 2005, booked $450 million in sales last year. The Cudahy, WI-based company plans to list on the NYSE under the symbol RRTS. Robert W. Baird & Co., BB&T Capital Markets and Stifel Nicolaus are the lead underwriters on the deal.
TeleNav (TNAV), which is the leading provider of mobile navigation services on the Sprint and AT&T networks, plans to raise $84 million by offering 7 million shares at a price range of $11-$13. At the mid-point of the proposed range, TeleNav will command a market value of $541 million. TeleNav, which was founded in 1999, booked $141 million in sales last year. The Sunnyvale, CA-based company plans to list on the NASDAQ under the symbol TNAV. J.P. Morgan, Deutsche Bank Securities and Robert W. Baird & Co. are the lead underwriters on the deal.
Wave2Wave Communications (WAV), a U.S.-based telecom reseller expanding into multi-tenant 4G wireless, plans to raise $83 million by offering 8.3 million shares at a price range of $9-$11. At the mid-point of the proposed range, Wave2Wave Communications will command a market value of $437 million. Wave2Wave Communications, which was founded in 1999, booked $136 million in sales last year. The Hackensack, NJ-based company plans to list on the NYSE under the symbol WAV. Rodman & Renshaw and Sunrise Securities Corp. are the lead underwriters on the deal.
Last week, there were 2 IPO pricings. Douglas Dynamics (PLOW), the largest provider of snowplows and sand and salt spreaders in North America, was the week's winner, ending up 2% from its IPO price.
