IPO Roundup July 6, 2016


Foxconn Unit Plans IPO That Could Raise $1 Billion – WSJ

HONG KONG—Taiwan’s Hon Hai Precision Industry Co., which assembles most of AppleInc.’s iPhones, filed for an initial public offering of its cable and connector unit in Hong Kong that could raise up to $1 billion as it seeks to tap the growing demand for its products in cloud computing. 


All eyes on upcoming Line offering amid a dismal IPO market – Yahoo Finance

So far this year, just over 40 IPOs have priced in the US, down over 50% from last year, according to Renaissance Capital, a Manager of IPO-Focused ETFs. 


L&T Infotech IPO to open on July 11 – The Hindu

The initial public offering (IPO) of India’s sixth largest information technology (IT) firm Larsen & Toubro (L&T) Infotech Limited will open from July 11 as its parent company L&T is putting 1.75 crore shares on the block at a price band of Rs.705-Rs.710 for each equity share of face value of Re.1. 


Indian IPO markets have had their best first quarter in nine years — Quartz

In the first three months of the financial year 2017—April, May, June—six companies raised Rs5,728 crore ($850 million) through IPOs, according to PRIME database, a capital markets information provider. This was the highest for a first quarter in the last nine years. The last time such a huge amount was raised was in the April-June quarter of 2007-08, with total issuances of Rs13,083 crore. 


Huge China Bank IPO Is a Dud – WSJ

Postal Savings Bank of China is trying to raise $7.5 billion in Hong Kong IPO but weak capital, fast loan growth and inefficient operations are warning signs.


Hostess Brands, Maker of Twinkies To IPO – ValueWalk

LOS ANGELES–(BUSINESS WIRE)–Hostess Brands, LLC (“Hostess” or the “Company”), the maker of Hostess® Twinkies®, Ding Dongs® and CupCakes, announced it has entered into a definitive agreement with Gores Holdings, Inc. (“Gores Holdings”) (NASDAQ CM: GRSHU, GRSH, GRSHW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC (“The Gores Group” or “Gores”). 


Assessing the Health of the IPO Market – Bloomberg

Benson Wong, assurance partner at PWC Hong Kong, discusses the state of the IPO market and the outlook for the second half of the year. He speaks to Bloomberg’s Angie Lau on “Trending Business.” (Source: Bloomberg) (Video edited to remove incorrect graphic). 


PNB Housing Finance files draft papers for Rs2,500 crore IPO – Livemint

PNB Housing Finance, promoted by Punjab National Bank, would be using the proceeds from the IPO towards augmenting its capital base. 


Why Line Is Raising Its IPO Target Price – Bloomberg

Line Corp. hiked the price of its initial public offering to raise as much as 116 billion yen ($1.1 billion), citing strong demand and market conditions. Bloomberg’s Pavel Alpeyev has more on “Daybreak Asia.” (Source: Bloomberg). 


Ujjivan Financial Services zooms over 100% against IPO issue price | Business Standard News

Shares of microfinance lender moved higher to Rs 427 on the BSE, appreciating more than 100% against its initial public offer (IPO) price of Rs 210 per share.  


Line Raises IPO Price Range to Meet Strong Demand – WSJ

TOKYO—Japanese messaging-app operator Line Corp. on Monday revised up its price range for an upcoming initial public offering to raise as much as 115.5 billion yen ($1.12 billion), citing strong demand. 


Genesis Colors plans Rs650 crore IPO – Livemint

Mumbai: Genesis Colors Pvt. Ltd, the Sequoia Capital-backed owner of luxury fashion labels such as Satya Paul, plans to sell shares to the public for the first time to fund expansion and provide an exit opportunity to its investors, said three people aware of the development. 


India IPO deals jump in H1, another $6 bn worth seen in the second half – The Economic Times

MUMBAI/HONG KONG: A surge in first-half India IPO activity is likely to pale in comparison to the second half which could see over $6 billion in deals, banking sources said, with investors encouraged by a pick-up in economic growth and unfazed by Britain’s vote to leave the European Union. 


China’s Postal Bank Reveals 11% Jump in Profit Ahead of IPO – Bloomberg

Postal Savings Bank of China Co., the lender preparing for a share offer that may raise $8 billion, reported an 11 percent increase in first-quarter profit as it pared back provisions for bad loans.  


Yeti Coolers Files For Hot IPO – Forbes

Yeti Holding, Inc., the maker of premium coolers filed to go public on July 1 and no surprise, the symbol will be YETI.  


Propertylink brokers ready fundies for IPO; research out Wednesday | afr.com

Goldman Sachs, Credit Suisse and JPMorgan analysts will be on the road marketing initial public offering-hopeful Propertylink from Wednesday. 


L&T rises to 8-month high ahead of L&T Infotech’s IPO announcement – Livemint

Mumbai: Ahead of its subsidiary L&T Infotech’s initial public offering (IPO) announcement, shares of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T) on Monday hit an eight-month high, gaining on the back of higher volumes for the six consecutive session. 


S.Korea’s Doosan Bobcat applies for IPO approval | Reuters

South Korea’s Doosan Bobcat Inc, the firm that controls U.S. construction machinery maker Bobcat, applied for preliminary exchange approval for an initial public offering (IPO) planned for this year, Korea Exchange said on Monday. 


IPO mart last week: Mahanagar mesmerised, Quess caused a stir, all eyes on L&T Infotech – The Economic Times

NEW DELHI: Mahanagar Gas’ stellar debut on the bourses mesmerised Dalal Street last week, while Quess Corp logged 144 times subscription, lifting the mood in the primary market.


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