The following IPOs are expected to price this week:
CVR Partners, LP (UAN), a spinoff of refiner CVR Energy's nitrogen fertilizer facility, plans to raise $200 million by offering 19.2 million shares at a price range of $12 to $14. At the mid-point of the proposed range, CVR Partners, LP will command a market value of $949 million. CVR Partners, LP, which was founded in 2007, booked $181 million in sales over the last 12 months. The Sugar Land, TX-based company plans to list on the NYSE under the symbol UAN. Morgan Stanley, Barclays Capital and Goldman, Sachs & Co. are the lead underwriters on the deal.
Golar LNG Partners LP (GMLP), formed by Golar LNG Limited to own floating storage and regasification units and LNG carriers, plans to raise $252 million by offering 12 million shares at a price range of $20 to $22. At the mid-point of the proposed range, Golar LNG Partners LP will command a market value of $821 million. Golar LNG Partners LP, which was founded in 2007, booked $153 million in sales over the last 12 months. The Bermuda-based company plans to list on the NASDAQ under the symbol GMLP. Citi, BofA Merrill Lynch and Morgan Stanley are the lead underwriters on the deal.
SandRidge Mississippian Trust I (SDT), a newly-formed trust that holds royalty interests in 37 producing and 123 development wells, plans to raise $250 million by offering 12.5 million shares at a price range of $19 to $21. At the mid-point of the proposed range, SandRidge Mississippian Trust I will command a market value of $560 million. SandRidge Mississippian Trust I, which was founded in 2010, has yet to generate revenue. The Austin, TX-based company plans to list on the NYSE under the symbol SDT. Raymond James and Morgan Stanley are the lead underwriters on the deal.
Last week, there were 5 IPO pricings. Qihoo 360 Technology (QIHU), which offers a safe web browser and other Internet security products in China, was the week's winner, ending up 103% from its IPO price.
