IPO Market Blog

Market Commentary and Analysis... Straight from the Pros

IPO Action: Energy Partnerships and Paydays

Written by John Fitzgibbon on Oct 26th, 2014

Shell Midstream Partners (SHLX – proposed) is said to be on the “most wanted” list of a lot of people. The company is a Houston-based limited partnership recently formed by Shell to own, operate, develop and acquire pipelines and other midstream assets. The company’s initial assets consist of interests in entities that own crude oil and refined products pipelines that serve as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast refining markets and deliver refined products from those markets to major demand centers. The partnership plans to pay a quarterly cash distribution amounting to 65 cents annually to yield 3.25 percent at the mid-point of its offering price.


The deal is expected to be ...

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Categories: Market Commentary
Tags: buzz , commentary , ipo , market , news

IPO Action: Lean Harvest under a Cloudy Sky

Written by John Fitzgibbon on Oct 19th, 2014

At first glance, this week’s calendar of eight IPOs looks to be bountiful. But on closer inspection, it isn’t.

 

Three are new faces are pressing their noses against the IPO window. Four others are carryovers from past weeks, and the final IPO is planning to price over 33 million shares. But here’s what sets this last deal apart from the others. The trading for the offering is scheduled for the Nasdaq Global Market, jumping from the Over-the-Counter Bulletin Board. Some might call this an IPO, but it isn’t. It is a public offering.

 

Nevertheless, investors have more things to worry about than this week’s planned IPO traffic.

 

Storm Watch

Investors’ interest this week will be ...

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Categories: Market Commentary
Tags: IPO Action , IPO Calendar , IPO Pipeline , IPO market , buzz , commentary , ipo , news

IPO Action: Driving Past the Train Wreck

Written by John Fitzgibbon on Oct 12th, 2014

Last week’s stock market was a train wreck that cast a shadow across the IPO market. But it did not stop the new-issue traffic. Nine deals were priced last week, raising $1.17 billion. This week’s calendar looks to price nine more IPOs that expect to raise $2 billion.

 

What’s more, this week opens with a frisson. Chrysler, an old name from yesteryear, plans to rejoin the New York Stock Exchange and start trading on Monday. It is not an IPO.

 

The new name is Fiat Chrysler Automobiles N.V., previously known as Fiat S.p.A. In January, the Fiat board of directors reorganized the company, creating Fiat Chrysler Automobiles (FCA). Under the reorganization, Fiat S ...

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Categories: Market Commentary
Tags: buzz , commentary , ipo , market , news

IPO Action: Pumping Up the October Calendar

Written by John Fitzgibbon on Sep 28th, 2014

Consider: From 2000 through 2013, the calendar generated 2,495 IPOs, according to the U.S. Securities and Exchange Commission filings. That made an “average year” equal to 192 IPOs and an “average month” equal to 16 IPOs. The Octobers of 2000 through  2013 chipped in with 262 IPOs. That made an “average” October equal to 19 IPOs. That’s 18.8 percent above the 13-year monthly average of 16 IPOs.


And this year, October opens with a calendar of 14 deals.


Highlighting this week’s new-issue traffic are a billion-dollar baby and a handful of IPOs that many players have on the “most wanted” list. Let’s get down to the meat of this week’s calendar.


Billion-Dollar Baby ...

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Categories: Market Commentary
Tags: buzz , commentary , ipo , market , news

IPO Action: Alibaba and the Road to Glory

Written by John Fitzgibbon on Sep 14th, 2014

This week an IPO will step from the calendar into legend to stand beside Facebook (FB) and Google (GOOGL). The name is Alibaba Group Holding (BABA – proposed). Each took a different road to fame.

 

Alibaba on the Turnpike

So far, the Alibaba IPO has been more traditional.

  • On May 6, 2014, the company filed for an IPO to raise $1 billion.

  • On Sept. 5, the company filed an amendment to offer 320.1 million American Depositary Shares at US$60 to US$66 each. The company expects to offer 123.1 million shares and selling shareholders plan to offer 197 million shares. The offering would raise US$20.2 billion, from the mid-point of its price range - making it the ...

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Categories: Market Commentary
Tags: Ali Baba IPO , Alibaba IPO , BABA IPO , IPO Action , IPO Calendar , IPO Commentary , IPO news , buzz , commentary , ipo , market , news

IPO Action: Restocking the IPO Shelves

Written by John Fitzgibbon on Aug 31st, 2014

Although the IPO calendar has been closed for the traditional Labor Day break, Wall Street was busy restocking the new-issues shelves. Last week 16 companies filed to go public. They were looking to raise about $2.6 billion. Those “sweet 16” deals made last week one of the busiest filing weeks in over eight years. During the week of May 16, 2006, a total of 20 IPOs were filed.

 

Hold on. There’s more.

 

On top of this traffic, countless other companies filed amendments updating their financials for the three months ended June 30, 2014. Note: People just don’t incur those enormous legal and accounting fees to file amendments, which can total over a million dollars, if they aren ...

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Categories: Market Commentary
Tags: Alibaba IPO , BABA IPO , Hot IPOs , IPO Action , IPO Calendar , IPO Pipeline , Upcoming IPOs , buzz , commentary , ipo , market , news

IPO Action: Alibaba Days and Nights

Written by John Fitzgibbon on Aug 17th, 2014

Just because the IPO market is slipping into its traditional slumber from mid-August to mid-September doesn’t mean the rumor mill was quiet. More Alibaba Group Holding stories made the rounds last week. Pull up a chair. Here they are.

 

The latest scuttlebutt: Expect Alibaba to file its pricing terms on Tuesday, Sept. 2; launch its road show and price its IPO at $25 per share on or about Tuesday, Sept. 16. There’s talk that the deal will raise $20 billion. If all this is true, then the size of the offering would be 800 million American Depositary Shares. The back story: Bankers reportedly want to get the deal out the door ahead of the Jewish holidays.

 

Hold on ...

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Categories: Market Commentary
Tags: Google IPO , IPO Action , IPO Calendar , IPO Pipeline , Visa IPO , buzz , commentary , ipo , market , news