IPO Roundup May 12, 2016


Dong Energy readies for blockbuster IPO

Dong Energy is set to fire the starting gun on one of Europe’s biggest stock market listing this year on Thursday when the Danish utility is likely to launch its IPO. 


Tencent-Backed Music-Streaming Service Plans U.S. IPO – WSJ

A music-streaming service backed by Chinese Internet giant Tencent Holdings Ltd. is planning an initial public offering in the U.S. that comes as competition heats up to win the ears of Chinese consumers, according to people familiar with the matter. 


Iran’s Pasargad Group Weighs $330 Million IPO of Energy Unit – Bloomberg

Pasargad Financial Group, owner of Iran’s second-largest bank, is weighing the sale of shares in its energy unit as the removal of sanctions boosts confidence in the economy. 


Parag Milk IPO sails through | Business Standard News

Maharashtra-based Parag Milk Foods managed to successfully close its Initial Public Offering (IPO) of shares on Wednesday. The company received 1.15 times subscription in the qualified institutional buyer (QIB) segment. Parag Milk’s Rs 750-crore IPO was forced to cut the issue price and extend closing by three days as it had not garnered the full QIB participation. 


Turning Point Brands priced IPO at $10 a share – MarketWatch

Turning Point Brands Inc. said Wednesday it priced its initial public offering at $10 a share. The provider of alternative tobacco products such as snuff and smokeless products sold 5.4 million shares to raise $54 million. The stock will start trading today under the symbol “TPB”. Cowen & Co. LLC and FBR Capital Markets & Co. were joint leads on the deal. 


SingTel Discusses $2 Billion Potential IPO of Broadband Unit – WSJ

Singapore Telecommunications Ltd., Southeast Asia’s largest telecom company, is in early discussions with investment banks on plans for a potential initial public offering of its high-speed broadband unit that could raise at least $2 billion, according to people familiar with the situation. 


Crowdcube pauses plans to get into IPO market: ‘The economics are god-awful’ – Business Insider

Crowdcube is pulling back on plans to take its crowdfunding model into the public markets, after saying last year it wanted to do the world’s first crowdfunded IPO. 


The earliest we can do the IPO is November – The Hindu

HDFC Life Insurance is the first insurance company to announce an IPO. Amitabh Chaudhry, Managing Director and Chief Executive Officer of the insurer discusses its strategy in an interview to The Hindu. Edited excerpts: 


After IPO, Red Rock Resorts to buy Palms Casino Resort – MarketWatch

Red Rock Resorts Inc., the newly public company formerly known as Station Casinos, is enhancing its prominent Las Vegas presence with a $312.5 million deal to buy the Palms Casino Resort. 


Uber would like you to believe its execs “literally spend no time” thinking about an IPO — Quartz

Silicon Valley is waiting with bated breath for Uber’s IPO, but it appears the company, reportedly valued by private investors at $62.5 billion, isn’t even thinking about going public. Or so it says. 

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