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IPO Activity Is Up, But Examine Each Offering Carefully
Andrew Leckey
In a year of other IPO gains by familiar names such as Hyatt Hotels (H) and Vitamin Shoppe (VSI), the average first-day IPO price "pop" has been 7 percent and the average overall return 10 percent. But don't get the impression we've returned to the wild-and-crazy IPO markets of the past.
Raise a Glass to China New Borun
By Dan France They say timing is everything and China New Borun Corp (BORN) probably couldn’t have had worse timing for its recent IPO. The offering was completed during a period of market volatility and an environment in which planned IPOs were being postponed or withdrawn altogether. As of June half of the IPOs completed YTD were priced below expectations and BORN was no exception. BORN was initially expected to price in the $12-$14 range during the week of June 7. By mid-week the scaled down price range was $8-$9 and it finally priced on June 11 at $7. The shares sold off following the offering before recently stabilizing and finding support at around $5.
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SurgiVision IPO Imminent
SurgiVision (SRGV), a medical device company focused on the development and commercialization of technology that enables physicians to see inside the brain and heart using MRI, is expected to price its IPO imminently. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Chesapeake Midstream Partners Priced IPO at High End of Range
Chesapeake Midstream Partners, L.P. (CHKM), a limited partnership to own, operate, develop and acquire natural gas gathering systems, priced its IPO on 28th July at $21, higher end of the range, giving a first day return of 6.7%. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Trius Therapeutics Set to Price IPO
Trius Therapeutics (TSRX), a biopharmaceutical company focused on the discovery of antibiotics for serious, life-threatening infections, is expected to price its IPO soon. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Envestnet Prices IPO at Low End of Range
Envestnet (ENV), an independent provider of technology-enabled, Web-based investment solutions and services, priced its IPO on 28th June at $9 per share, low end of its revised range, generating first day return of 13.7% per share. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Molycorp Prices IPO Below Range
Molycorp (MCP), a rare earth oxide, or REO, producer in the Western hemisphere and oustside China, priced its IPO on 28th July at $14 per share, below the original range, generating a first day return of -8.2%. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Molycorp: A Dud Green IPO
by Michael Kanellos The green industry is right one out of every three times. Molycorp (MCP), which wants to mine rare earth elements for use in car batteries and electronics from a big pit in southern California, held an IPO Thursday. The company said earlier in the month that it planned to sell 28 million shares for $15 to $17 a share. It dropped the price to $13.25 a share in the IPO and on the first day of public trading the stock is hovering between $12 and $13.
Greentech Media submits:
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IPO Offering vs. Opening Prices: The 16% Difference
In yesterday's article, we checked in on the performance of a few IPOs and took a quick look at five new companies scheduled to go public sometime this week. Today we'll continue on the topic of IPOs, but more specifically, we're going to look at the difference between the IPO offering price, and the opening price - the latter being the first trade execution price when the stock hits the open market. Understanding where this spread comes from - and using it to your advantage - will help you become a more profitable investor in IPOs.
Ian Wyatt submits:
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Weekly IPO Update: 5 IPOs to Launch This Week
In today's IPO update we'll check in on the performance of recent IPOs, and take a quick look at new offerings coming soon to an exchange near you. The chart below shows the returns to date of recently public stocks that we've been following. You will see that there are two returns for each company: The "offering" return gives the stock's return from the offering price to Monday's close. The second return, "1st day open", is the performance as of the stock's opening price on the first day of trading. That's the price an independent investor could theoretically have executed a trade at.
Ian Wyatt submits:
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Will Investors Find Envestnet IPO Compelling?
Envestnet (ENV) provides technology-enabled investment solutions and services to 19,376 US financial advisors representing $107 billion in assets. Its offerings run the gamut from back-office and reporting services to financial planning tools and account management. Envestnet is benefiting from the shift toward independent advisors, who lack the scale to perform these functions in-house and use Envestnet as a cost-effective alternative. The company, which was founded by executives from Nuveen Investments and is backed by venture firms GRP Partners and Foundation Capital, is looking to go public in a $100 million IPO; Morgan Stanley (MS), UBS (UBS) and Barclays (BCS) are the bookrunners on the deal, which is on this week's IPO calendar. Business model
Renaissance Capital IPO Research submits:
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Higher One Continues to Look Very Undervalued
Before we get to Higher One (ONE), we should note the recent action in CBOE. We published our view on CBOE on June 9th (read original post) and noted that the major stumbling block was the fact that our Intrinsic Valuation estimate of $27 suggested limited upside for investors. Sure enough the investment bank analysts initiated the name Monday with neutral ratings and price targets ranging mostly in the high-20s. The shares have done what we would have expected and in this case we got broad confirmation from the banking analysts 40 days after investors had to make decisions.
IPO Candy submits:
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5 IPOs Planned for This Week
The following IPOs are expected to price this week:
Renaissance Capital IPO Research submits:
Chesapeake Midstream Partners (CHKM), an L.P. formed by Chesapeake (CHK) and GIP to operate natural gas gathering systems, plans to raise $425 million by offering 21.25 million shares at a price range of $19-$21. At the mid-point of the proposed range, Chesapeake Midstream Partners will command a market value of $2.8 billion. Chesapeake booked $383 million in sales over the last 12 months. The Oklahoma City, OK-based company plans to list on the NYSE under the symbol CHKM. UBS Investment Bank (UBS), Citi (C) and Morgan Stanley (MS) are the lead underwriters on the deal.
Envestnet (ENV), which provides outsourced web-based investment solutions to financial advisors, plans to raise $100 million by offering 7.7 million shares at a price range of $12-$14. At the mid-point of the proposed range, Envestnet will command a market value of $409 million. Envestnet, which was founded in 1999, booked $78 million in sales over the last 12 months. The Chicago, IL-based company plans to list on the NYSE under the symbol ENV. Morgan Stanley, UBS Investment Bank and Barclays Capital (BCS) are the lead underwriters on the deal.
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IntraLinks' IPO: Then and Now
We completed our pre-IPO analysis of IntraLinks (IL) Saturday. In the process of doing our background work, we couldn’t help but take a look at the original company filings to go public from back in 2005. For those who haven’t yet looked, the company provides a secure collaboration that can be used by multiple institutions. There are plenty of solutions that can be used behind firewalls, but Internet/cloud based solutions are harder to find and – when they exist – tend to be very narrow in scope.
IPO Candy submits:
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SurgiVision IPO: More Development Stage Than Expected
SurgiVision (SRGV) is a company we are following because it crosses two major themes we like, health technology and real VR. However the company is more development stage than we expected. The ability to do surgery based on vision from MRI does seem inevitable and their technology appears ready but the pace of adoption is hard to forecast. Because the company wants to build a recurring revenue, supply-based business, their revenue and profit ramp will be elongated. This is a deal is a bit of a public/private transaction to give the company the expansion capital needed to go to market. As such it’s going to be a risky one and will take time for fundamentals to begin to drive the stock. The company needs capital so there will be lots of pressure to get this deal done at whatever price the market will support. Envestnet is another new financial services firm, like Financial Engines (FNGN), Higher One Holdings (ONE) and Green Dot (GDOT). Simply put their aim is to provide a wealth management platform for independent advisors that rivals the resources of captive wealth management firms. The development and maintenance of these platforms is a giant burden that many mid-market firms may not be able to shoulder on their own. This gives the company some opportunity to be the SaaS-based investment advisory solution for many firms. If so this will take away the system/support “edge” for all except the very largest firms with proprietary products only available to their own advisors (like IPO shares for example.) It’s a competitive and fragmented space. Envestnet management sounds like acquisitions will be an important component of the growth strategy. Their recent partnership with FundQuest (BNP) is a good example of how Envestnet can carve out a position for their solution even with established financial advisory firms. Like Financial Engines this is another company with a very visible and recurring revenue model. Envestnet has also been a profitable company for some years. Expects to be a 20%+ grower in revenue with slightly faster growth of EBITDA and profit.
IPO Candy submits:
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Ameresco, CIS IPOs Look Solid
Ameresco (AMRC) looks like a solid company but gives an extremely boring roadshow presentation, so it’s a bit painful to listen to all 40 minutes of it. But the company is large (>$400M annual revenues), profitable, and has strong visibility thanks to long-term contracts and projects. The focus on improved energy efficiency, combined with some reuse, is a solid foundation for growth since it offers both ROI and taps into the demand for more responsible use of resources. The key for potential investors in Ameresco is getting the right valuation. It’s a very solid business that will offer good returns as long as the shares don’t get overpriced. We will be conducting an IV analysis on them. Camelot Information Systems (CIS) has already priced, but we only just had the chance to listen to the roadshow. The story and the management team look solid enough (despite the deal being priced at the low end and trading under that today.) Some of the lack of interest is best explained by the recent expansion of the “China discount” that applies to technology companies there. We’ve see it with well-established companies there so it’s not surprising that it’s also true in the IPO market as well. For example, this company reminded us of CDC Software (CDCS), which has declined from $11 to $7 in the last three months. Another is Telestone (TSTC), which has declined from $20 to under $10 in the same timeframe, again on no real news. Telestone is now trading at about 5x operating earnings (!)
IPO Candy submits:
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Camelot Information Systems Prices IPO at Low End of Range
Camelot Information Systems (CIS), a China-based provider of enterprise application services and financial industry IT services, priced its IPO on July 20th, 2010, at $11 per share, which is the lower end of the expected range of $11-$13 per share, giving first day return of -3.2%. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
Energy Efficiency Provider Ameresco to Price IPO
Ameresco (AMRC), provider of energy efficiency solutions for facilities throughout North America, is expected to price its IPO this week. Business Overview (from prospectus)
SA Editor Mohit Manghnani submits:
Complete Story »
China Plans for Its Competitive Future With Mining Asset Drive
The Wall Street Journal discovers the new old world of mining development and finance; and the natives of that new old world are smart, well financed, and decidedly unfriendly to competitors from the old new world. Wednesday's July 21, 2010 Wall Street Journal has an article buried on page A11 entitled “Chinese Firms Snap Up Mining Assets.” The article should be on the front page, but the WSJ’s editors do not seem to realize just how important this article is for predicting the future of the American industrial economy.
Jack Lifton submits:
Complete Story »
Recent IPO Qlik Technologies: Growth to Build On
The “Great Recession” has left many companies with fewer employees and large workloads. Productivity is the drive to get the work down, but how it gets down is where Qlik Technologies (QLIK) comes into the picture. Qlik’s business intelligence tool allows users to make real-time analysis simple. Users are able to explore data with ease and make decisions with confidence. More importantly the speed to implementation Qlik’s tool is measured in days rather than months, giving an immediate boost to worker productivity. In addition, Qlik can be installed on a mobile device, laptop, or in a cloud system and is available to a single user to a global organization. Making better and quicker decisions allows companies to apply savings right to its bottom line.
Joshua Hayes submits:
Complete Story »
RealD's 'Avatar' IPO
The following piece was done pre-IPO for TradingIPOs subscribers. RLD priced strongly at $16 and traded in a $19-$21 range first day. While I liked this deal mid-teens, I am not a buyer at all $20+.
Bill Simpson submits:
RealD (RLD) plans on offering 12.4 million shares (assuming over-allotments) at a range of $13-$15. Insiders will be selling 6.4 million shares in the deal. JP Morgan (JPM) and Piper Jaffray (PJC) are leading the deal, William Blain, Weisel (TWPG), and BMO co-managing. Post-IPO, RLD will have 52.5 million shares outstanding for a market cap of $735 million on a pricing of $14. Note that sharecount includes warrants/options given to movie theater chains as incentives to sell-in RLD's 3-D technology. These options are included as an expense item to fair value on the earnings statement. However as they will eventually be converted to shares it is best to remove the expense item and include those in the sharecount instead.
Complete Story »
IPO Analysis from Seeking Alpha
'IPO Analysis' Tag RSS Syndication from SeekingAlpha.com
IPO market is stuck in neutral
The IPO market hasn't exactly been running at full throttle this year. And lately, it can't seem to get out of first gear.
JPMorgan Chase makes $1B-plus on Visa IPO
Thanks to its stake in Visa's initial public offering this week, JPMorgan Chase & Co. has enough money to pay for its Bear Stearns purchase and still have about a billion dollars left over.
Visa prepares for near-$19B IPO
Read full story for latest details.
Here come the hot IPOs of '08
Just because the U.S. economy might be looking at a recession, doesn't mean a few good tech IPOs can't light up the market. While no company is fully immune to economic retraction, he most promising technology companies have the advantage of a global marketplace in which to sell their wares. So if U.S. markets hit the skids, companies can always focus their efforts on Asian or European customers.
Venture capital at 6-year high - report
Read full story for latest details.
India's Reliance eyes record $3B IPO
Read full story for latest details.
Classmates.com cancels IPO
Read full story for latest details.
Companies skittish about going public
As financial markets go, so go initial public offerings.
A dunce cap for Classmates.com
Investors will have to wait a little while longer for the first pure-play social networking initial public offering in the United States.
Chinese firm shelves IPO, takes buyout
CGEN's larger competitor Focus Media announced it was buying CGEN in a deal that could ultimately wind up being worth $350 million.
Citadel's risky play in E*Trade
Citadel has made its reputation through shrewd, well-timed investments. But is its $2.55 billion infusion into E*Trade a wise move for it - and for shareholders?
'Tis the season for hot IPOs
Classmates.com and CGEN Digital Media Company Limited could hit the public markets in December filed updates about their upcoming IPOs.
Fortune's 2007 investment scorecard
We had our share of winners and losers, including a solar power play that shined, an IPO that soared, and a mortgage insurer that tanked.
Meet the PayPal mafia
An inside look at the hyperintelligent, superconnected pack of serial entrepreneurs who left the payment service and are turning Silicon Valley upside down. Fortune's Jeffrey O'Brien reports.
Blackstone skids on quarterly loss
Stock tumbles 6% after IPO charges hit private equity firm's bottom line; management sees opportunities in weak mortgage market.
Google or Yahoo?
Which web giant best nurtures its upstart acquisitions?
PetroChina begins planning $9B IPO
Read full story for latest details.
Akela Pharma plans IPO
Read full story for latest details.
Bioheart cuts IPO price range in half
Read full story for latest details.
Virgin Mobile stock debuts at $15 per share
Read full story for latest details.
IPO news - CNNMoney.com
From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
Digital Sky plans London flotation
Digital Sky Technologies, the Russian internet group that has invested in Facebook, is selling up to 25% of its local unit in an initial public offering next year
Zamin weighs up London flotation
The Brazilian iron ore company's planned listing, which would likely value the group at $2bn-$2.5bn, comes after Ferrous Resources cancelled its own London offering
Private equity poised to cash in on chips
Buy-out groups' bets on chipmakers about to pay off after NXP puts a price range on its planned IPO to raise about $620m and its bigger rival Freescale starts discussions about following suit
Everbright Bank plans $3bn IPO
China's securities regulator says it will review China Everbright Bank's application for a Shanghai IPO, potentially enabling the bank to raise about Rmb20bn
Banks line up to advise AIA
Goldman Sachs is set to join Morgan Stanley and Deutsche Bank as the lead banks for the planned $12bn-$15bn Hong Kong listing of AIA
Santander eyes £3bn UK autumn listing
Santander is gearing up to list its UK operations on the London Stock Exchange as soon as this autumn, in a deal that could raise an estimated £3bn to fund growth by the acquisitive Spanish bank
Ocado shares tumble on London debut
Tim Steiner, chief executive of Ocado, insists the internet grocer's newly listed shares are not overpriced as the stock falls 7 per cent on its London debut – despite the price range being cut at the eleventh hour to get the listing away
Drop in Ocado stock reaffirms sceptics' view
The last-minute cut in the floatation price and fall in share price has reaffirmed opinion that the e-tailer was overpriced and management lucky to get float away
SKS Microfinance plans to raise $350m in IPO
India's largest lender to the poor is to sell a 21.6 per cent stake in a listing, expected to spark a wave of IPOs by equity-strapped Indian microfinance companies
Ocado secures orders for 80% of IPO shares
Ocado and its advisers are confident online grocer will list within its £800m-£1.1bn valuation range, albeit towards the bottom of that field
Ocado cuts price range for IPO
The online grocer has been forced to cut the price its initial public offering less than 24 hours before it was due to list after failing to convince investors
AIA seeks to sever AIG ties in listing
Before agreeing to join AIA, Mr Tucker asked AIG for assurances that the Asian business could pursue independence immediately, according to people familiar with the matter
Tucker takes helm at AIG Asia unit
Mark Tucker, the former chief executive of Prudential, has been appointed by AIG to run its Asian operations after a takeover bid by the UK insurer failed and the US group decided to press on with plans for a float of AIA
Surge in private equity IPOs yields limited returns
A surge in IPOs by private equity-owned companies has produced limited investor profits. The news comes as several buy-out owners prepare to list
Brazilian farmland group set for HK listing
A farmland development group backed by Jacob Rothschild is hoping to become the first Brazilian company to list on the Hong Kong stock exchange, after attracting investments from some of the territory's largest tycoons
FT.com - IPOs
FT.com - IPOs
Capital Bank Corporation Announces Plans for Public Stock Offering
RALEIGH, N.C., July 30 /PRNewswire-FirstCall/ -- Capital Bank Corporation (Nasdaq: CBKN), the parent company of Capital Bank, today announced its intention to commence a public offering of 34,500,000 shares of its common stock, which will be underwritten by FIG Partners, LLC as sole book-runner and
Savvis Announces Extension of Tender Offer for 3% Convertible Senior Notes
ST. LOUIS, July 30 /PRNewswire-FirstCall/ -- Savvis, Inc. (Nasdaq: SVVS), a global leader in cloud infrastructure and hosted IT solutions for enterprises, today announced the extension of its cash tender offer for any and all of the outstanding $345 million of its 3% Convertible Senior Notes due May
Global Sources announces preliminary tender offer results
NEW YORK, July 30 /PRNewswire-Asia/ -- Global Sources Ltd. (Nasdaq: GSOL)
(http://www.globalsources.com ) announced today the preliminary results of its
cash tender offer to purchase up to 11,121,000 shares of its outstanding
common shares at a price of $9.00 per share. The offer to purchase sha
PanAmericano Closes its Foreign Issue of US$ 300 Million
SAO PAULO, July 29 /PRNewswire/ -- Banco PanAmericano, a financial institution that is part of the Silvio Santos Group in Brazil, closed its issue of senior debt (Medium Term Notes) in the international markets, where the banks Itau, Bradesco, UBS Investment Bank and Standard Bank were the coordinat
Mylan Announces Proposed Add-On Private Placement of its Senior Notes Due 2020
PITTSBURGH, July 29 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that it intends to privately place $300 million in aggregate principal amount of senior notes through a reopening of its Senior Notes due 2020, subject to market and other conditions. The notes are being offered a
Cedar Fair Completes Issuance of $405 Million of Senior Unsecured Notes
SANDUSKY, Ohio, July 29 /PRNewswire-FirstCall/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that it has completed the issuance of $405 million aggregate principal amount of 9.125% senior unsecured notes d
Elbit Imaging Announces Results of "Dutch Auction" to the Public for its Debenture Offering in Israel
TEL AVIV, Israel, July 29, 2010 /PRNewswire-FirstCall/ -- Elbit Imaging
Ltd. (NASDAQ: EMITF) ("Elbit") announced today, following its previous report
dated July 28, 2010, that the offering by way of "Dutch Auction" to the
public in connection with a proposed public offering in Israel by way of
e
CEO of FullCircle Registry, Inc. Issues Letter to Shareholders; Announces New Stock Offering and Discusses Future Plans
SHELBYVILLE, Ky., July 29 /PRNewswire-FirstCall/ -- On July 28, 2010, Norman L. Frohreich, the President and CEO of FullCircle Registry, Inc., published a letter to the company's shareholders communicating recent activities involving its Form S-1 registration statement filed with the Securities and
Park Sterling Bank Announces Commencement of Common Stock Offering
CHARLOTTE, N.C., July 29 /PRNewswire/ -- Park Sterling Bank announced today that it has commenced a public offering of 23 million shares of its common stock, with Keefe, Bruyette & Woods acting as lead manager and sole book runner and Sandler O'Neill + Partners, L.P., Morgan Keegan & Company
Habersham Bancorp Announces Intrastate Public Offering of Up to $25,000,000
CORNELIA, Ga., July 29 /PRNewswire-FirstCall/ -- Habersham Bancorp (OTC Bulletin Board: HABC) announced today that it is commencing an intrastate public offering of Units to raise a minimum of $5,000,000 and a maximum of $25,000,000. Each Unit shall be offered for $1.30 and consist of one shar
Apache Completes Equity Offerings; Net Proceeds Total $3.48 Billion
HOUSTON, July 28 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE, Nasdaq: APA) today announced the completion of the previously announced sale of common stock and depositary shares with net proceeds from the offerings to the company totaling approximately $3.48 billion after underwriting discount
Crown Holdings, Inc. Announces Redemption of 7 5/8% Senior Notes Due 2013
PHILADELPHIA, July 28 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (the "Company") (NYSE: CCK) today announced that Crown Americas LLC and Crown Americas Capital Corp., each a wholly-owned subsidiary of the Company (collectively, the "Issuers"), have notified the holders of the Issuers' 7 5/8% Sen
Alimentation Couche-Tard responds to Casey's General Stores' rejection of increased $36.75 all-cash tender offer
ATD.A, ATD.B / TSX
LAVAL, QC, July 28 /PRNewswire-FirstCall/ - Alimentation Couche-Tard Inc. ("Couche-Tard") today responded to the announcement by Casey's General Stores, Inc. ("Casey's") (NASDAQ: CASY) that its Board of Directors has rejected Couche-Tard's increased tender offer of $36.75 per sha
Midroog Ltd., an Affiliate of Moody's Investors Services Approves Expansion of Potential New Debt of Elbit Imaging
TEL AVIV, Israel, July 28, 2010 /PRNewswire-FirstCall/ -- Elbit Imaging
Ltd. (NASDAQ: EMITF) ("Elbit") announced today that Midroog Ltd., an
affiliate of Moody's Investors Services, approved a rating of "A2/Negative",
on a local scale, for an additional principal amount of NIS 10 million of
Seri
China Ceramics Launches Warrants Exchange Offer
JINJIANG, China, July 28 /PRNewswire-Asia-FirstCall/ -- China Ceramics Co.,
Ltd. (OTC Bulletin Board: CCLTF, CCLWF, CCLUF) ("China Ceramics" or the
"Company"), a leading Chinese manufacturer of ceramic tiles used for exterior
siding and for interior flooring and design in residential and commerc
Elbit Imaging Announces Results of "Dutch Auction" to Institutional Investors for its Debenture Offering in Israel
TEL AVIV, Israel, July 28, 2010 /PRNewswire-FirstCall/ -- Elbit Imaging
Ltd. (NASDAQ: EMITF) ("Elbit") announced today that the offering by way of
"Dutch Auction" to institutional investors in connection with a proposed
public offering in Israel by way of extending its existing Series G
Debentur
Aircastle Announces Pricing of Private Placement of $300 Million Aggregate Principal Amount of Senior Unsecured Notes due 2018
STAMFORD, Conn., July 27 /PRNewswire-FirstCall/ -- Aircastle Limited (NYSE: AYR) ("Aircastle") announced today the pricing of $300 million aggregate principal amount of 9.75% senior unsecured notes due 2018. The notes will be issued at 98.645% of par. The notes will be offered only to qu
Rights Offering
NEW YORK, July 27 /PRNewswire-FirstCall/ -- Terra Nova Royalty Corporation (NYSE: TTT) (the "Company") is pleased to announce that it is proceeding with a rights offering to holders of common shares (the "Shares") of the Company (the "Rights Offering") to raise proceeds of up to approximately USD$50
Cell Therapeutics, Inc. Announces the Successful Closing of a Private Offering of $4.06 Million of Securities
SEATTLE, July 27 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) (the "Company") today announced the successful closing of its previously announced sale of $4.06 million of securities to an accredited investor in a private offering pursuant to Section 4(2) of the Securi
ComEd Announces $500 Million Bond Sale
CHICAGO, July 27 /PRNewswire/ -- ComEd announced it sold $500 million of First Mortgage Bonds maturing on Aug. 1, 2020, with a coupon of four percent. This represents the third lowest 10-year coupon ever in the utility sector, the lowest 10-year coupon in the current debt portfolio of parent c
PR Newswire: Stock Offering
Press Releases from PR Newswire about Stock Offering