IPO Roundup July 7, 2016

IPO turnaround: Here are the latest companies looking to go public

Brexit may have slowed global markets, but the initial public offering (IPO) business is continuing to recover. May had a measly 8 filings, but a flurry of filings at the end of last week brought the June total to 17. We already have two for July. 

L&t Infotech IPO may not have broad appeal for all investors – The Economic Times

ET INTELLIGENCE GROUP: Value driven investors may find L&T Infotech’s IPO attractive if they compare the company’s operating margin, return on equity (RoE) and price-earnings (P/E) multiple with peers.

We have filed Rs 2500-crore IPO with 20% green shoe option: Sanjay Gupta, PNB Housing Finance – The Economic Times

In a chat with ET Now, Sanjay Gupta, MD, PNBBSE 3.07 % Housing Finance, says both the anchor investors — Destimoney and Carlyle — are going to stay put even after the IPO. Edited excerpts . 

Foxconn IPO Shows an Unfit Industry – Bloomberg Gadfly

Foxconn Technology Group’s latest IPO is giving the world a clearer picture of just how tough the technology environment really is. 

Biotech trumps IT in venture-backed IPO, M&A | FierceBiotech

Only 12 IPOs made it out last quarter from U.S. venture-backed companies. Of those, 9 were for biotech companies. That’s just one of the measures showing that biotech has held up relatively well despite a volatile stock market, at least as compared to its information technology peers. 

In up-to-$10 billion IPO, China’s PSBC eyes ticket to online financial services boom | Reuters

As part of plans for an up-to-$10 billion initial public offering, Postal Savings Bank of China (PSBC) aims to transform itself from a brick-and-mortar lender into a digital player, helped by its investors Ant Financial and Tencent Holdings. 

UK waste disposal group Biffa heads for £1bn IPO — FT.com

The UK waste disposal company Biffa is heading towards a potential £1bn flotation on the London stock market next year after posting a 27 per cent increase in underlying profits. 

CBS Planning IPO for Radio Unit With No Signs of Right Buyer – Bloomberg

CBS Corp. is planning to file to take its radio division public by the end of the month, a sign that the owner of the most-watched U.S. TV network can’t find a buyer willing to pay the right price. 

Yeti IPO: How Patents and Copycats Threaten the Austin Business | Austin Inno

When you make something great, people are likely to imitate. It’s a patent issue that’s probably as old as the wheel itself. But it’s also one of the biggest threats to companies whose innovations are difficult to fully patent and relatively easy for competitors to replicate. 

Asia-Pacific Leads IPO Deals Despite Lagging Greater China, EY Report – Forbes

Asia-Pacific was the most active region in the world for initial public offerings in the first half of the year, where 52% of the world’s IPOs were launched, according to a report by consulting firm EY. APAC was followed by EMEIA (Europe, Middle East, India and Africa) and U.S. exchanges, which accounted for 36% and 10.3% of global deals, respectively. 

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. 


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