The following IPOs are expected to price this week:
Freescale Semiconductor (FSL), a global leader in embedded processing semiconductors and solutions, plans to raise $1 billion by offering 43.5 million shares at a price range of $22 to $24. At the mid-point of the proposed range, Freescale Semiconductor will command a market value of $5.8 billion. Freescale Semiconductor, which was founded in 1949, booked $4.6 billion in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol FSL. Citi and Deutsche Bank Securities are the lead underwriters on the deal.
Lone Pine Resources (LPR), a carve-out of Forest Oil’s Canadian E&P operations, plans to raise $285 million by offering 15 million shares at a price range of $18 to $20. At the mid-point of the proposed range, Lone Pine Resources will command a market value of $1.6 billion. Lone Pine Resources, which was founded in 1916, booked $145 million in sales over the last 12 months. The Alberta ,Canada-based company plans to list on the NYSE under the symbol LPR. J.P. Morgan, Credit Suisse, and TD Securities are the lead underwriters on the deal.
Nobao Renewable Energy (NRE), which provides ground source heat pumps used to heat and cool Chinese commercial buildings, plans to raise $134 million by offering 11.2 million shares at a price range of $11 to $13. At the mid-point of the proposed range, Nobao Renewable Energy will command a market value of $655 million. Nobao Renewable Energy, which was founded in 2005, booked $53 million in sales over the last 12 months. The Shanghai ,China-based company plans to list on the NYSE under the symbol NRE. Citi, Deutsche Bank Securities, and Goldman, Sachs & Co. are the lead underwriters on the deal.
Sabre Industries (SABR), which provides towers and other engineered products for the wireless infrastructure markets, plans to raise $91 million by offering 7 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Sabre Industries will command a market value of $169 million. Sabre Industries, which was founded in 1977, booked $264 million in sales over the last 12 months. The North Wales, PA-based company plans to list on the NASDAQ under the symbol SABR. Stifel Nicolaus Weisel, Baird, and Oppenheimer & Co. are the lead underwriters on the deal.
Solazyme (SZYM), which transforms plant-based sugars into petroleum-based chemicals and fuels, plans to raise $160 million by offering 10 million shares at a price range of $15 to $17. At the mid-point of the proposed range, Solazyme will command a market value of $994 million. Solazyme, which was founded in 2003, booked $38 million in sales over the last 12 months. The South San Francisco, CA-based company plans to list on the NASDAQ under the symbol SZYM. Morgan Stanley and Goldman, Sachs & Co. are the lead underwriters on the deal.
Spirit Airlines (SAVE), an ultra low-cost, low-fare airline with service to FL, the Caribbean and Latin America, plans to raise $300 million by offering 20 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Spirit Airlines will command a market value of $952 million. Spirit Airlines, which was founded in 1964, booked $830 million in sales over the last 12 months. The Miramar, FL-based company plans to list on the NASDAQ under the symbol SAVE. Citi and Morgan Stanley are the lead underwriters on the deal.
The Active Network (ACTV), which provides an online registration platform for sporting events and outdoor activitie, plans to raise $187 million by offering 11 million shares at a price range of $16 to $18. At the mid-point of the proposed range, The Active Network will command a market value of $1.1 billion. The Active Network, which was founded in 1998, booked $289 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NYSE under the symbol ACTV. BofA Merrill Lynch and Citi are the lead underwriters on the deal.
Yandex N.V. (YNDX), which is russia's leading online search engine, plans to raise $1.1 billion by offering 52 million shares at a price range of $20 to $22. At the mid-point of the proposed range, Yandex N.V. will command a market value of $7 billion. Yandex N.V., which was founded in 2000, booked $494 million in sales over the last 12 months. The Moscow-based company plans to list on the NASDAQ under the symbol YNDX. Morgan Stanley, Deutsche Bank Securities, and Goldman, Sachs & Co. are the lead underwriters on the deal.
If all eight companies price their IPOs as expected, May will be the busiest month in the US IPO market since 2007.
Last week, there was one IPO pricing. LinkedIn (LNKD), which is the world's leading online professional network with more than 100 million members, began trading on the NYSE on Thursday. The company registered the 5th largest first day pop in the post bubble era before closing the week up 107% from its IPO price.
