IPO Roundup March 18, 2016


WiseTech IPO Set to Be One of Australia’s Biggest Technology Listings – WSJ

WiseTech Global Ltd., a software company launched out of a Sydney basement in the 1990s, has laid out plans for one of Australia’s biggest ever technology listings.

The company said Friday it had lodged a prospectus with the country’s securities regulator for an initial public offering that could see it list with a market value of more than 1 billion Australian dollars (US$764.8 million), after raising A$100 million-A$220 million.

The Australian Securities Exchange has attracted a number of technology listings among a flurry of IPOs in recent years, albeit mainly of smaller companies. The government under Prime Minister Malcolm Turnbull is pushing the development of the country’s tech industry as the economy grapples with a slump in investment and jobs in mining and energy. 


HealthCare Global’s Rs 650-crore IPO subscribed 54% on Day 2 – The Economic Times

The IPO of cancer-care network operator HealthCare Global Enterprises (HCG) was subscribed 54 per cent on the second day of the offer today.

The Rs 650-crore issue received bids for 88,13,610 shares against the total issue size of 1,63,90,000 shares, the NSE data showed.

The qualified institutional buyers’ portion was subscribed 75 per cent, while retail investors segment saw 31 per cent subscription.


IPO market stuck in second-longest drought ever: Report

Initial public offerings are at a standstill in the U.S.

There have been no IPOs on the New York Stock Exchange since Dec. 18, when financial technology company Yirendai went public, marking the second-longest drought in the exchange’s history, according to Dealogic, a New York-based financial services firm.

The last time the NYSE encountered a similar drought was during the financial crisis, when there were only two offerings from Aug. 7, 2008, until Feb. 10, 2009. 


Brazil’s Caixa Cancels Plans for Insurance Unit’s IPO – WSJ

Brazil’s state-owned lender Caixa Econômica Federal canceled its plans to hold an initial public offering of its insurance subsidiary, citing adverse capital market conditions.

The bank’s decision added one more hurdle to Brazil’s government in its efforts to improve the country’s fiscal situation.

The Wall Street Journal reported in mid-2015 that the bank was planning to sell as much as 25% of the unit in an operation that could generate up to 11.25 billion reais ($2.96 billion).

In a short statement, Caixa said that it could resume the IPO strategy in the future if capital market conditions improve. A bank spokeswoman declined to provide further comment. Caixa is fully controlled by Brazil’s federal government. 


Domty IPO oversubscribed by 10.718 times – Daily News Egypt

Shares in the Arabian Food Industries Company’s (Domty) initial public offering (IPO) were oversubscribed by 10.718 times at the closing of the IPO on Thursday.

Thursday marked the final day of the IPO, which was held on the Egyptian Exchange for approximately 12.250m shares. A total of 2,430 subscribers were registered for approximately 131.306m shares.

Sources confirmed that the allocation ratio in registered shares will be revealed on Sunday after Misr for Central Clearing, Depository and Registry (MCDR) examines the number of subscriptions for which the cash value was paid.

The offering closed on Tuesday with an oversubscription rate of 5.5 times. The final value of shares was recorded at EGP 9.20. 


ICICI Securities, Kotak Mahindra Cap exit from Infibeam’s IPO – The Economic Times

Ahead of Infibeam Incorporation’s IPO early next week, two bankers — ICICI Securities and Kotak Mahindra Capital — have exited from the public issue of the online shopping portal.

While the company did not disclose any reason for their withdrawal, reports suggested this has happened over differences about pricing and timing of the IPO, the first ever by any e-commerce company in India.

There were no comments from the company in this regard.


China Startup Juwai Seeks IPO in Australia as Early as 2016 – Bloomberg Business

Juwai.com, a property search engine that lists real estate around the world for Chinese buyers, is seeking to go public in Australia as early as this year.

The firm is raising funds from institutional investors and strategic partners before selling shares in a public offering at the end of the year or in early 2017, Charles Pittar, chief executive officer of Juwai, said in an interview in Tokyo Friday. He declined to provide additional details such as the planned size of the offering.

“The listing is important for our growth,” said Pittar, who was appointed as CEO of Juwai earlier this year. 


Gary Hanna’s KLR Energy Acquisition Corp. completes IPO – Houston Business Journal

KLR Energy Acquisition Corp., the company recently launched by former EPL Oil & Gas CEO Gary Hanna, has completed its initial public offering.

KLR, which was created with the intent of making energy acquisitions,announced on March 16 that it has closed the IPO after raising the intended proceeds of $80 million. 


Infibeam IPO not for faint-hearted | Business Standard News

Infibeam Incorporation is India’s first e-commerce company to launch an Initial Public Offer (IPO) of equity. The company’s business model, however, is different from a typical e-commerce company. While opportunities are immense, risks are also high. Although Infibeam is among the few domestic e-commerce companies to report profits, the IPO pricing is expensive. In this backdrop, the IPO is not for the faint-hearted. 


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