The following IPOs are expected to price this week:
Campus Crest Communities (CCG), a self-managed REIT focused on high-quality student housing properties, plans to raise $383 million by offering 28.3 million shares at a price range of $12.50-$14.50. At the mid-point of the proposed range, Campus Crest will command a market value of $401 million. Campus Crest Communities, which was founded in 2004, booked $107 million in sales over the last 12 months. The Charlotte, NC-based company plans to list on the NYSE under the symbol CCG. Raymond James, Citi and Goldman, Sachs & Co. are the lead underwriters on the deal.
Daqo New Energy (DQ), a China-based manufacturer of polysilicon for solar power applications, plans to raise $92 million by offering 8 million ADSs at a price range of $10.50-$12.50. At the mid-point of the proposed range, Daqo New Energy will command a market value of $395 million. Daqo New Energy, which was founded in 2007, booked $160 million in sales over the last 12 months. The Chongqing-based company plans to list on the NYSE under the symbol DQ. Morgan Stanley is the lead underwriter on the deal. The company previously filed to offer 6.5 million ADSs at $12.50-$14.50 before postponing the deal in January and refiling in August.
Global Education & Technology Group Limited (GEDU), a China-based provider of education services including foreign language training and test prep, plans to raise $61 million by offering 6.4 million ADSs at a price range of $8.50-$10.50. At the mid-point of the proposed range, Global Education & Technology Group will command a market value of $241 million. Global Education & Technology Group, which was founded in 2001, booked $36 million in sales over the last 12 months. The Beijing-based company plans to list on the NASDAQ under the symbol GEDU. Credit Suisse and BofA Merrill Lynch are the lead underwriters on the deal.
Hicks Acquisition II (HAC-U), a blank check company organized by Thomas Hicks of Hicks Holdings, LLC, plans to raise $200 million by offering 20 million units at a price of $10 per unit. Citi and Deutsche Bank Securities are the lead underwriters on the deal.
Legacy Healthcare Properties Trust (LRP), a newly formed REIT that will own six senior housing facilities, plans to raise $175 million by offering 8.75 million shares at a price of $18.50 per share with contingent warrants. At the mid-point of the proposed range, Legacy Healthcare Properties Trust will command a market value of $183 million. Legacy Healthcare Properties Trust, which was founded in 2010, booked $18 million in sales over the last 12 months. The Orlando, FL-based company plans to list on the NYSE under the symbol LRP. Jefferies & Co. and Stifel Nicolaus Weisel are the lead underwriters on the deal.
LINC Logistics Company (LLGX), which offers supply chain logistics services primarily to the US auto industry, plans to raise $138 million by offering 9.2 million shares at a price range of $14-$16. At the mid-point of the proposed range, LINC Logistics will command a market value of $313 million. LINC Logistics, which was founded in 1992, booked $192 million in sales over the last 12 months. The Warren, MI-based company plans to list on the NASDAQ under the symbol LLGX. Citi, Stephens Inc. and Stifel Nicolaus are the lead underwriters on the deal.
US Federal Properties Trust (USFP), a newly organized REIT that leases office properties to the US government, plans to raise $275 million by offering 13.75 million shares at a price range of $19-$21. At the mid-point of the proposed range, US Federal Properties Trust will command a market value of $289 million. US Federal Properties Trust, which was founded in 1998, booked $5 million in sales over the last 12 months. The Kansas City, MO-based company plans to list on the NYSE under the symbol USFP. Deutsche Bank Securities and UBS Investment Bank are the lead underwriters on the deal.
Last week, there were 7 IPO pricings. ChinaCache International (CCIH), China's leading provider of Internet content and application delivery services, was the week's winner, ending up 95% from its IPO price and ranking first on our list of best first day performers in the 12 months.
