The following IPOs are expected to price this week:
Cornerstone OnDemand (CSOD), a global provider of on-demand talent management software, plans to raise $105 million by offering 10.5 million shares at a price range of $9 to $11. At the mid-point of the proposed range, Cornerstone OnDemand will command a market value of $518 million. Cornerstone OnDemand, which was founded in 1999, booked $48 million in sales over the last 12 months. The Santa Monica, CA-based company plans to list on the NASDAQ under the symbol CSOD. Goldman, Sachs & Co. and Barclays Capital are the lead underwriters on the deal.
Global Market Group Limited (GMC), which operates a B2B e-commerce platform for Chinese manufacturers, plans to raise $132 million by offering 11 million ADSs at a price range of $11 to $13. At the mid-point of the proposed range, Global Market Group will command a market value of $626 million. Global Market Group Limited, which was founded in 2000, booked $27 million in sales over the last 12 months. The Guangzhou, China-based company plans to list on the NYSE under the symbol GMC. Deutsche Bank Securities and Piper Jaffray are the lead underwriters on the deal.
Last week, there were 2 IPO pricings. HCA Holdings (HCA), the largest private hospital operator in the US, was the week's winner, ending up 4% from its IPO price.
