The following IPOs are expected to price this week:
Body Central Corp. (BODY), a fashion retailer targeting women in their teens and twenties, 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, Body Central Corp. will command a market value of $242 million. Body Central, which was founded in 1972, booked $217 million in sales over the last 12 months. The Jacksonville, FL-based company plans to list on the NASDAQ under the symbol BODY. Piper Jaffray and Jefferies & Co. are the lead underwriters on the deal.
NetSpend Holdings (NTSP), which offers reloadable prepaid debit cards and related financial services, plans to raise $204 million by offering 18.5 million shares at a price range of $10-$12. At the mid-point of the proposed range, NetSpend Holdings will command a market value of $1.1 billion. NetSpend, which was founded in 1999, booked $255 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NASDAQ under the symbol NTSP. Goldman, Sachs & Co., BofA Merrill Lynch and William Blair are the lead underwriters on the deal.
Tower International (TOWR), a Cerberus-backed provider of structural components and assemblies for auto OEMs, plans to raise $100 million by offering 6.25 million shares at a price range of $15-$17. At the mid-point of the proposed range, Tower International will command a market value of $328 million. Tower International, which was founded in 1993, booked $1.9 billion in sales over the last 12 months. The Livonia, MI-based company plans to list on the NYSE under the symbol TOWR. Goldman, Sachs & Co., Citi and J.P. Morgan are the lead underwriters on the deal.
Last week, there were 4 IPO pricings. Global Education & Technology Group Limited (GEDU), a China-based provider of education services including foreign language training and test prep, was the week's winner, ending up 16% from its IPO price.
