The following IPOs are expected to price this week:
China Kanghui Holdings (KH), the #2 China-based manufacturer and marketer of orthopedic implants, plans to raise $68 million by offering 6.7 million ADSs at a price range of $9.25-$11.25. At the mid-point of the proposed range, China Kanghui will command a market value of $223 million. China Kanghui, which was founded in 1997, booked $29 million in sales over the last 12 months. The Changzhou-based company plans to list on the NYSE under the symbol KH. Morgan Stanley and Piper Jaffray are the lead underwriters on the deal.
DLC Realty Trust (DLC), a self-managed REIT with a portfolio of 86 value-focused shopping centers, plans to raise $500 million by offering 31.3 million shares at a price range of $15-$17. At the mid-point of the proposed range, DLC Realty Trust will command a market value of $849 million. DLC Realty Trust, which was founded in 1991, booked $163 million in sales over the last 12 months. The Tarrytown, NY-based company plans to list on the NYSE under the symbol DLC. BofA Merrill Lynch and Barclays Capital are the lead underwriters on the deal.
MakeMyTrip Limited (MMYT), the largest online travel company in India, plans to raise $65 million by offering 5 million shares at a price range of $12-$14. At the mid-point of the proposed range, MakeMyTrip will command a market value of $469 million. MakeMyTrip, which was founded in 2000, booked $84 million in sales over the last 12 months. The Haryana-based company plans to list on the NASDAQ under the symbol MMYT. Morgan Stanley is the lead underwriter on the deal.
MediaMind Technologies (MDMD), which provides digital advertising campaign management solutions to ad agencies, plans to raise $75 million by offering 5 million shares at a price range of $14-$16. At the mid-point of the proposed range, MediaMind Technologies will command a market value of $330 million. MediaMind Technologies, which was founded in 1999, booked $65 million in sales over the last 12 months. The New York, NY-based company plans to list on the NASDAQ under the symbol MDMD. J.P. Morgan and Deutsche Bank Securities are the lead underwriters on the deal.
Park Sterling Bank (PSTB), a recently formed commercial bank with three offices in North Carolina, plans to raise $230 million by offering 23 million shares at a price range of $9-$11. At the mid-point of the proposed range, Park Sterling Bank will command a market value of $280 million. Park Sterling Bank, which was founded in 2006, booked $4 million in sales over the last 12 months. The Charlotte, NC-based company plans to list on the NASDAQ under the symbol PSTB. Keefe Bruyette Woods is the lead underwriter on the deal.
RealPage (RP), which provides on demand software solutions for rental property owners and managers, plans to raise $189 million by offering 13.5 million shares at a price range of $13-$15. At the mid-point of the proposed range, RealPage will command a market value of $963 million. RealPage, which was founded in 1998, booked $160 million in sales over the last 12 months. The Carrollton, TX-based company plans to list on the NASDAQ under the symbol RP. Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal.
Last week, there were 7 IPO pricings. None of last week's IPOs ended in positive territory. Trius Therapeutics (TSRX), which is developing an antibiotic for serious gram-positive Staph infections, was the best of the group, ending the week flat from its IPO price.
