IPO Roundup April 8, 2016


Equitas Holdings IPO sails through, subscribed 17 times – The Economic Times

The Rs 2,200 crore initial public offering (IPO) by Equitas Holdings got fully subscribed on the third and final day of the bidding. By 4:50 pm, combined data compiled from BSE and NSE showed the issue had received total bids for 247 crore shares on the two exchanges, compared with 13.91 crore shares on the block. This was 17 times the total issue size. 


BNP Plans IPO of First Hawaiian Bank – WSJ

French Bank BNP Paribas SA is planning to launch an initial public offering of its First Hawaiian Bank subsidiary as early as June, as more companies gear up for share sales that will determine whether the new-issue market can break out of its malaise.

First Hawaiian, the island state’s oldest and largest bank, would seek to raise roughly $1 billion in an offering valuing it at between $4 billion and $5 billion, according to people familiar with the matter. 


U.S. Listing Would Be Best For Jose Cuervo IPO – Forbes

A potential initial public offering by the family-owned tequila maker Jose Cuervo would attract investors in Mexico and beyond, given the company’s brand recognition and the scarcity of pure-play listed alcohol makers in North America, market participants told Mergermarket.

If successful, the IPO could mean a lot for the local market, which has been hit by volatility and risk aversion for several quarters.

The Jalisco, Mexico-based company, maker of the best-selling tequila brand in the world, is said to have resumed work on an IPO in Mexico, which could raise $750 million or more later this year, according to Bloomberg report earlier this month. The family-owned company has had on-again, off-again discussions about going public for at least six years. 


WiseTech IPO priced at $3.35; will list with $970m market cap | afr.com

WiseTech’s initial public offering has been priced at $3.35 a share, following the company’s institutional bookbuild.

WiseTech will list having raised $168 million, which includes $125 million for the company’s coffers and another $43 million of secondary sales.

It’s understood pre-IPO investors Fidelity and SmallCo increased their shareholdings. Fidelity is expected to become a substantial shareholder, fund manager sources said.

WiseTech’s market capitalisation is expected to be $970 million on listing. 


EPPC plans an IPO in mid-2017: Amwal Al-Khaleej executive – Daily News Egypt

Egyptian Propylene and Polypropylene Company (EPPC), a plastic manufacturing company, is planning an initial public offering (IPO) to be expected by mid-2017, head of Amwal Al-Khaleej’s Cairo office Karim Saada told Daily News Egypt.

Amwal Al-Khaleej owns 16.4% of the plastic manufacturing company. The IPO aims to expand the company’s factory and double its production capacity.

Amwal Al-Khaleej is a private equity firm established in 2004. In 2005, the company started investing in Egypt and has become, as their CEO described, “very active in the board of companies” they have invested in. 


Pecca’s IPO shares for public oversubscribed 13.11 times – Business News | The Star Online

Car leather upholstery manufacturer Pecca Group Bhd’s initial public offering (IPO) shares for the Malaysian public has been oversubscribed by 13.11 times.

Malaysian Issuing House Sdn Bhd (MIH) said in a statement that 8,047 applications for 132.637 million shares were received for the 9.4 million shares available for public subscription at RM1.42 per share.

Of the 4.7 million shares alloted under the bumiputra category, a total of 4,351 applications for 61.695 million shares were received, which represents an oversubscription rate of 12.13 times.

Meanwhile, the public category attracted 3,696 applications for 70.942 million shares, translating to an oversubscription rate of 14.09 times.

MIH said the joint placement agents had confirmed that the private placement of 53.526 million shares to selected investors had been placed out. 


Vodafone Said to Start Bank Selection Process for India IPO – Bloomberg

Vodafone Group Plc has started the process of choosing arrangers for a listing of its Indian wireless business, people with knowledge of the matter said, in what could be among the country’s biggest initial public offerings.

The Newbury, England-based company asked interested investment banks to sign non-disclosure agreements before receiving more detailed information on the India unit, the people said, asking not to be identified as the information is private. Vodafone, which may sell about 10 percent of the India business through the share sale, could pick advisers by next month, according to the people.

Vodafone India, the country’s second-largest wireless carrier after Bharti Airtel Ltd., could be valued at about $20 billion in the offering, people with knowledge of the matter said in October. The share sale would give Vodafone funds to expand as rising wages help growth in India outpace more mature markets like the U.K. 


Constellation Soars on IPO Chatter and Earnings as Vice Stocks Rally

Shares of Constellation Brands (STZ) climbed 5% by midday trading Wednesday, the latest among a series of big gains in so-called vice stocks.

The Victor, N.Y.-based alcoholic-beverage producer, whose beer labels include Corona and Pacifico, delighted investors with a morning report of a quarterly earnings beat and talks an initial public offering of Constellation’s Canadian wine businesses.

“We are in the early process of evaluating an IPO of this business and we plan to make a final decision later this calendar year depending on market conditions,” CEO Robert Sands said on a Wednesday morning call with analysts. “If an IPO is completed, the proceeds are expected to be used to manage debt and our other capital allocation priorities.” 


Engineering firm Acromec to raise $4.5m in Catalist IPO, Companies & Markets News & Top Stories – The Straits Times

A home-grown engineering company that designs and builds high-tech research labs, healthcare and clean-room facilities is launching its initial public offering on the Catalist board today.

Acromec is betting on Singapore’s big push into science and tech research to help it drive growth.

The company wants to raise about $4.5 million, mostly for working capital to expand the business. The offer comprises 27 million new shares at 22 cents each, including 1.5 million public offer shares, 22.5 million placement shares and three million reserved shares.

Executive director Lingo Goi said the company is driven by the need to raise its profile to clinch bigger deals. “We felt that as a company of $20 million revenue, the client looks at us and thinks, ‘Do I award my $40 million contract to the company?’ 


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