The following IPOs are expected to price this week:
Aegerion Pharmaceuticals (AEGR), which is developing a drug for an orphan disease that produces fatal levels of cholesterol, plans to raise $70 million by offering 4.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, Aegerion Pharmaceuticals will command a market value of $232 million. Aegerion Pharmaceuticals, which was founded in 2005, has yet to generate product revenue. The Bridgewater, NJ-based company plans to list on the NASDAQ under the symbol AEGR. Leerink Swann and Lazard Capital Markets are the lead underwriters on the deal.
Bravo Brio Restaurant Group (BBRG), which operates the BRAVO! Cucina Italiana and BRIO Tuscan Grille restaurant brands, plans to raise $125 million by offering 8.3 million shares at a price range of $14-$16. At the mid-point of the proposed range, Bravo Brio Restaurant Group will command a market value of $308 million. Bravo Brio Restaurant Group, which was founded in 1987, booked $320 million in sales over the last 12 months. The Columbus, OH-based company plans to list on the NASDAQ under the symbol BBRG. Jefferies & Co., Piper Jaffray and Wells Fargo Securities 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 Holdings, 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.
ShangPharma Corporation (SHP), the second-largest Chinese pharmaceutical/biotechnology R&D outsourcing firm, plans to raise $90 million by offering 5.8 million ADSs at a price range of $14.50-$16.50. At the mid-point of the proposed range, ShangPharma Corporation will command a market value of $300 million. ShangPharma Corporation, which was founded in 2002, booked $81 million in sales over the last 12 months. The Shanghai-based company plans to list on the NYSE under the symbol SHP. Citi and J.P. Morgan are the lead underwriters on the deal.
TAL Education Group (XRS), China's largest after-school tutoring service provider for K-12 students, plans to raise $108 million by offering 12 million ADSs at a price range of $8-$10. At the mid-point of the proposed range, TAL Education Group will command a market value of $695 million. TAL Education Group, which was founded in 2005, booked $90 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol XRS. Credit Suisse and Morgan Stanley are the lead underwriters on the deal.
Vera Bradley (VRA), which designs, produces and sells handbags and accessories for women, plans to raise $165 million by offering 11 million shares at a price range of $14-$16. At the mid-point of the proposed range, Vera Bradley will command a market value of $608 million. Vera Bradley, which was founded in 1982, booked $323 million in sales over the last 12 months. The Fort Wayne, IN-based company plans to list on the NASDAQ under the symbol VRA. Baird and Piper Jaffray are the lead underwriters on the deal.
Last week, there were 4 IPO pricings. Campus Crest Communities (CCG), a self-managed REIT focused on high-quality student housing properties, was the week's winner, ending up 1% from its IPO price.
