IPO Roundup April 15, 2016


BATS Exorcises IPO Demons, Finally Goes Public In Biggest Offering Of 2016 – Forbes

The afternoon of its first trading day, shares of Bats Global Markets were up 20% to about $22.70 a pop. The electronic exchange priced its long awaited initial public offering at $19 a share Thursday night, at the top of the expected $17 to $19 range. The sale of 13.3 million shares raised $252.7 million for shareholders, making it the largest IPO of the years so far. Ticker BATS hit the open market around 10:25 a.m. Friday and popped immediately, amidst a broadly down day for the market. By mid-afternoon the price hadn’t strayed far from the $23.39 peak achieved in the first hour of trading. 


Jose Cuervo Said to Be Making Arrangements for an I.P.O. – The New York Times

Happy hour is coming to the initial public offerings market.

Jose Cuervo, a brand of tequila that is over two centuries old, is preparing for an I.P.O., according to people with knowledge of the matter.

The family-owned Mexican company is working with JPMorgan Chase and Morgan Stanley to prepare for the deal, said the people, who asked not to be named because the process is still private. 


Vodafone India may raise $2 billion using IPO route

Vodafone India’s stated plan to sell its shares could involve raising of funds to the tune of $2 billion (Rs. 13,300 crore), reported the Mint, citing four sources familiar with the development. The stock offering will potentially be done through the Initial Public Offering (IPO) route by the end of this month or early next month.

Media reports had said on April 8 the parent company Vodafone Group Plc was laying the groundwork for India’s largest IPO. However, the firm then had disclosed that the stock offering would be a pure stake sale by the parent firm or involve primary capital raising. 


One51 calls off shareholder vote to approve IPO plans – Independent.ie

One51 surprised the market last night with a note that effectively spells the end of a plan to float on the stock market in the immediate term.

The company said it has proposed adjourning indefinitely an extraordinary general meeting (EGM) scheduled for next Thursday, when shareholders were due to vote on whether of not to push ahead with an initial public offering (IPO) and listings in Dublin and London.

The company’s annual general meeting will still take place on Thursday, where the decision to shelve the IPO vote looks set to dominate proceedings. 


The Kathmandu Post :: Bhat-Bhateni announces plan to IPO in two years

Bhat-Bhateni Supermarket and Departmental Store, one of the largest marts in the country, has been making preparations to go public, said Min Bahadur Gurung, chairman and managing director.

The main aim of going public is to share the company’s wealth with the people who have made it the success it is, he said. “The company has grown from a small cold store to a big supermarket and become a household name for shopping over the last three decades,” said Gurung. “This is because of the support we have received from the public, and we want to share our wealth with the public.” 


Continental Warehousing plans IPO to raise Rs1,000 cr – Livemint

Warburg Pincus-backed logistics firm Continental Warehousing Corporation (Nhava Seva) Ltd is planning an initial public offering (IPO) to raise as much as Rs.1,000 crore, according to two persons aware of the development.

The IPO will be a mix of primary capital-raising and a partial stake sale by Warburg, which invested $100 million in the company in 2011, said one of the two persons, requesting anonymity as he is not authorized to speak to the media. 


Colorado tech company exploring rare IPO | 9news.com

Denver-based Optiv Security Inc. is reportedly exploring an initial public stock offering, with the possibility of having a rare local tech IPO as soon as fall.

Bloomberg news service, citing unnamed sources, reported in a story published Thursday that the privately-held, fast-growing cyber security business hired investment bank Goldman Sachs Group Inc. and Morgan Stanley to begin an IPO process. 


WE HAVE AN IPO: What you need to know on Wall Street today – Yahoo Finance

We have an IPO! 

Bats Global Markets opened for trading at $22.88 on Friday, higher than the initial public offering price of $19 per share.

The stock surged by as much as 21%. 

Bats, the second-largest stock-exchange operator in the US, sold 13.3 million shares on Thursday, valuing the company at $1.82 billion and making it the largest IPO of the year.

The deal was 20 times oversubscribed, according to people familiar with the matter. In bank news, Citigroup beat first-quarter earnings expectations, but profit plummeted 27%. Goldman Sachs is reining in the expenses after a rough quarter for trading and banking businesses across the Street. 


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