IPO Roundup January 18, 2016

Alibaba-Backed Best Logistics Seeks to Raise $700 Million Ahead of IPO – WSJ

A Chinese logistics company partly owned by Alibaba Group HoldingLtd. is raising $700 million in a new fundraising round as investors pour money into China’s rapidly growing e-commerce infrastructure.

Best Logistics Technologies Ltd., based in Alibaba’s hometown of Hangzhou, is raising the funds ahead of a planned initial public offering, according to a disclosure statement by the World Bank’s private-sector investment arm, the International Finance Corp. The IFC said it is considering investing as much as $30 million in the company. […]

In Saudi Aramco IPO Talk, Some See Age of Oil Coming to End – Bloomberg Business

For all the talk of Saudi Arabia’s oil company becoming the first trillion-dollar business if it goes public, some see the chatter as a sign of oil’s weakness. The Saudis, they say, are starting to hedge their bet on fossil fuels.

While the Saudi Arabian Oil Co. sits on a preposterously largereserve of 260 billion barrels of oil, the kingdom’s discussion of a share sale amid a global collapse in crude prices suggests another motive to those who preach about the financial risks of climate change: The Saudis may want to capitalize on an asset that’s only going to lose value if the world gets serious about global warming. […]

Tech IPO for startup that charges borrowers an average of 176% interest on loans – MarketWatch

As the payday loan industry faces a crackdown in the United States, an online service that also offers small loans with high interest rates to people with poor credit is preparing to take Wall Street’s biggest stage, even though it admits that its practices could lead to its own doom.

Elevate Credit Inc. ELVT, +0.00%  is set to be the first venture-backed initial public offering of 2016, with plans to sell shares this month in a deal that could bring in almost $80 million. The online lender uses its own proprietary technology to offer “approval in seconds” to consumers for two installment loan products and one line of credit.

But those automated approvals and the high interest rates that follow come with a slew of regulatory issues and questionable tactics. Despite the focus on its technology, Elevate appears to be nothing more than an online version of an industry that preys on the poor with loans they can’t obtain from banks, at interest rates banks could never charge. […]

Cannes Lions Festival’s Parent Plans IPO in U.K. | Special: Cannes Lions – AdAge

The parent company of the Cannes Lions International Festival of Creativity today confirmed its intention to do an initial public offering on the London Stock Exchange.

Ascential, owned by private equity group Apax and the U.K.’s Guardian Media Group, is an events and business information company whose most important business is the Cannes Lions festival.

The Cannes Lions festival has been reassuring the ad agencies and others it does business with that the proposed move from a private company to a listed one won’t change the festival’s strategy or goals, or the way it works with the industry.

U.K. media reported today that the IPO is likely to happen next month, and that Ascential will sell at least 25% of its shares to raise a minimum of $290 million, part of which will be used to pay down the parent company’s debt. […]

The Prince and Politics Behind a Saudi Aramco IPO | The National Interest

Last week, Prince Mohammad bin Salman, the Saudi deputy crown prince, created shock waves when he told the Economist he was “enthusiastic” about the possibility that Saudi Aramco, with the world’s largest oil reserves, might be privatized. Such a move would throttle the global energy industry and lead to the creation of a company some estimate would have a larger market capitalization than Apple, ExxonMobil, Berkshire Hathaway and Google—combined. Last Friday, Aramco issued a carefully worded press releaseconfirming it is studying options to list “an appropriate percentage of the Company’s shares and/or the listing of its downstream subsidiaries.” […]

Clydesdale says business growing ahead of IPO

Clydesdale and Yorkshire, the UK bank which is preparing to list in London, said its customers opened 28,930 accounts in the final quarter of last year.

The UK bank announced in December it is preparing to be floated by its parent group National Australia Bank, as part of NAB’s strategy to exit the UK and focus on its core domestic market.

In a short trading statement released on Monday, the lender said: […]

FDSL’s IPO subscribed by 2.1 times at NSE’s SME platform | Business Line

The IPO of Fourth Dimension Solutions Ltd (FDSL), which closed for subscription on NSE’s SME platform ‘Emerge’ on January 7, got subscribed by 2.1 times.

The net issue offered to public was for 27.44 lakh equity shares which got subscribed 2.1 times amid the volatile market conditions, a company statement said.

FDSL is an information technology (IT) infrastructure, technical support services and operations outsourcing company. […]

Cigar maker STG has no fear of U.S. regulation ahead of IPO | Reuters

The chief executive of the world’s largest cigar maker, Scandinavian Tobacco Group (STG), which plans a stock market listing, played down the impact on Friday of proposed tighter regulation of cigars in the United States, its biggest market.

The U.S. Food and Drugs Administration (FDA), which already has the power to regulate cigarettes in the United States, proposed last year extending its regulation to cigars for the first time.

Under the proposals, any new cigar launched in the U.S. market after 2007 would require retrospective approval from the FDA.

Chief Executive Niels Frederiksen told Reuters STG had been on the U.S. market since the 1950s and as its products were launched before 2007, it would not need to jump through any regulatory hoops to gain approvals. […]

Steel site plans IPO | Shanghai Daily

ZHAOGANG.COM, which trades steel and iron products online, said yesterday that it raised 1.1 billion yuan (US$167 million) in a latest round of financing and that it plans to list domestically within two years.

Shanghai-based Zhaogang will use the capital raised to upgrade its online platform. It expects to launch its initial public offering in the domestic market within two years, said Wang Dong, founder and CEO of Zhaogang. […]

Nemak Wins LatinFinance’s Award for IPO of the Year

Nemak, S.A.B. de C.V., a leading provider of innovative lightweighting solutions for the global automotive industry (“Nemak”), has won LatinFinance´s Initial Public Offering of the Year Award for 2015.

The award was based on a variety of factors including deal execution, size, complexity, innovativeness, and market significance. Nemak was announced as the winner at the publication´s Deals of the Year Awards Dinner held in New York City on January 14th.

Nemak completed Latin America’s largest initial public offering (IPO) of 2015, listing 19.3% of the company’s shares. Making its debut on the Mexican Stock Exchange, the equity listing was well-received by investors and has provided the company with the ideal platform to pursue an ambitious growth strategy in key global markets such as the US, Europe, Latin America, and Asia. […]

IPO Market Is Ice Cold to Start 2016 – MoneyBeat – WSJ

If you were among the people hoping for an immediate IPO surge in 2016 to erase the bad taste of 2015, then you have been sorely disappointed.

So far this year, there have been a grand total of zero IPOs in the U.S., with the only offering scheduled so far—a small $75 million deal for Shimmick Construction Co.—delaying until at least next week, according to Renassiance Capital LLC. (The company did not respond to a call for comment.) […]

Saudi Arabia may launch IPO for Saudi Aramco | FOX25

Saudi Arabia may launch an initial public offering for the world’s largest oil producer, Saudi Arabian Oil Co., according to a report.

Deputy Crown Prince Muhammad bin Salman told The Economist that a decision will be made in the next few months. The crown prince is widely thought to hold considerable power in the monarchy and also heads the defense ministry.

“I believe it is in the interest of the Saudi market, and it is in the interest of Aramco,” he said. […]

US IPO Weekly Recap: The only IPO delays as the market falls for the second straight week – NASDAQ.com

A bad start to the year only got worse this week as the S&P 500 fell another 2%.

For the first time since October, the ninety-day returns swung negative to -0.6%. Just two weeks ago, that number stood at 17%. The VIX is up 48% year-to-date, closing Friday at 27.

After 12 companies submitted their initial filings with the SEC in the first week of the year, just three filed this week. Four companies, PLX Pharma (PLXP), Nordic Realty Trust (NORT), Elevate Credit (ELVT) and AmeriQuest (AMQ), set terms, and the only new  IPO scheduled  for this week delayed due to market conditions. […]

Stock trends: IPO fundraising shrank in 2015- Nikkei Asian Review

Businesses worldwide raised $207 billion through initial public offerings in 2015, 23% less than in 2014, as companies turned bearish in the face of a U.S. interest-rate hike and the economic slowdown in China.

The number of IPOs worldwide rose to 1,377 from 1,321 in 2014, according to U.S.-based Dealogic. But the amount raised declined for the first time in three years. Some corporations and investors postponed offerings after stock prices became volatile in the summer, due to the plunge of Chinese shares and speculation over the timing of a U.S. rate increase.

Chinese authorities halted IPOs on the mainland for about six months starting in July on concerns of oversupply. This affected over 600 companies that had applied to list on the Shanghai and Shenzhen exchanges. […]

Clydesdale IPO ‘will not be halted by turmoil’ | The Times

The new chairman of National Australia Bank said volatile equity markets were unlikely to stop the flotation of Clydesdale Bank, its subsidiary.

Ken Henry acknowledged that it would be “a considerable relief to everybody on the board and also to management” to complete the initial public offering, which is scheduled to take place next month. […]

Delayed-release aspirin developer PLx Pharma sets terms for $68 million IPO – NASDAQ.com

PLx Pharma, which is commercializing a delayed-release aspirin based on its proprietary lipid coating, announced terms for its IPO on Friday.

The Houston, TX-based company plans to raise $68 million by offering 3.8 million shares at a price range of $17 to $19. At the midpoint of the proposed range, PLx Pharma would command a fully diluted market value of $176 million.

Primary shareholders include Ronald Zimmerman (5% post-IPO stake), Integra Ventures (4%), Aurus (4%), Charles Sheedy (3%), Reed Morian (3%) and David Jorden (2%). […]

Lufax invites bids for $5bn Hong Kong IPO | GlobalCapital

Beaufort Securities Reiterates Buy Rating for IP Group Plc (IPO) – Zolmax

IP Group Plc (LON:IPO)‘s stock had its “buy” rating restated by research analysts at Beaufort Securities in a research report issued to clients and investors on Wednesday, Market Beat Ratings reports.

Shares of IP Group Plc (LON:IPO) traded down 1.2068% during trading on Wednesday, reaching GBX 180.1000. 288,964 shares of the company traded hands. The firm’s 50-day moving average is GBX 213.77 and its 200-day moving average is GBX 222.70. The stock’s market capitalization is GBX 1.02 billion. IP Group Plc has a 12-month low of GBX 177.45 and a 12-month high of GBX 264.27. […]

IPO News: Cancer treatment gets cheaper: Oncobiologics files for a $115 million IPO

Oncobiologics, a late-stage biotech developing biosimilars of blockbuster drugs Avastin and Humira, filed on Friday with the SEC to raise up to $115 million in an initial public offering.

Oncobiologics is ready to begin Phase 3 trials for both Avastin and Humira. If approved, the biosimilars would offer a less-expensive version of Roche’s Avastin and AbbVie’s Humira. Avastin is among the world’s top-selling cancer therapies.

The Cranbury, NJ-based company was founded in 2010 and plans to list on the Nasdaq under the symbol ONS. Oncobiologics filed confidentially on November 16, 2015. Jefferies and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed. […]

IPO News: Gene therapy biotech AveXis files for a $115 million IPO

AveXis, which is developing gene therapies for rare neurological diseases, filed on Friday with the SEC to raise up to $115 million in an initial public offering.

The Bannockburn, IL-based company was founded in 2010 and plans to list on the Nasdaq under the symbol AVXS. AveXis filed confidentially on October 16, 2015. Goldman Sachs, Jefferies, BMO Capital Markets and Chardan Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed. […]

Training Manager, Sales Operations for Fast Growing Pre-IPO Company

The mission for the Training Manager, Field Sales and Operations is to design and execute channel programs that create a competitive advantage by achieving go-to-market goals and winning valuable channel mindshare. Channel programs consist of interviewing key stakeholders and deep dive sales data analytics to uncover critical needs and ensure all aspects of the channel programs align with sales goals.

To be successful, you will need to know how to drive sales within Consumer Electronics and Wireless merchants’ eCommerce and Brick & Mortar channels through in person training, interactive tutorials and videos, marketing collateral, support tools, sales aids, incentive programs, ongoing engagement, etc. plus deep analysis of product, price, promotion and merchandising. […]


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