Real Goods Solar IPO Offers Exposure to Residential Market

Real Goods Solar, Inc. (RSOL) is a residential and commercial solar energy integrator. It begins trading publicly this Thursday.

American Water Works IPO Analysis: Just an Exit Strategy for Parent Company RWE
Bill Simpson submits:

On April 11, Bill Simpson wrote an analysis of American Water Works (AWK). In the April 23 IPO, the company raised $1.25 billion by selling 58 million shares, priced at $21.50, below its estimated range of $24-$26 a share. Tuesday the stock closed at $21.07.

Learning From a Canadian Hedge Fund-Related IPO
Larry MacDonald submits:

Billionaire money manager Stephen Jarislowsky has some views on initial public offerings (IPOs) that might give pause to investors considering the impending IPO of Sprott Asset Management Inc., the rapidly growing manager of Canadian hedge funds and mutual funds. Mr. Jarislowsky says:

“My experience is that you can buy nine out of ten new issues at a lower price a year or two later. Companies usually go public when they can get a high price at the outset … because of this I generally avoid new issues … all told, this policy has saved me enormous pain.”

Complete Story »

A Closer Look at Rackspace, With IPO Filed
Erick Schonfeld submits:

Web hosting provider Rackspace [RAX] filed for an initial public offering with the SEC Friday night, as we predicted it would. The company will try to raise $400 million, and it intends to set the IPO price through an auction, much like Google did. The underwriters are Goldman Sachs, Merrill Lynch, Credit Suisse, and WR Hambrecht & Co. (the leading proponent of such IPO pricing). Pricing through an auction is designed to make sure the company raises the most money possible instead of giving up a first-day pop to investors who are allocated shares by the investment banks doing the deal. Shares will still be allocated to such clients, but anyone who bids beforehand in the auction at or above the eventual IPO price will also get shares. All in all, it is a much more efficient way to price an IPO and more companies should do it.

With the filing we also get a clearer picture of Rackspace’s business and financials. Its revenues grew 62 percent last year to $362 million, but it posted net profits of $17.8 million, which were down 10 percent from the year before. Cash flows from operations, though, remained healthy at $105 million last year, up from $61 million in 2006. (Click here for a bigger image and more data):

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Rackspace IPO an Important Sector Indicator

Internet infrastructure specialist Rackspace, Inc. has filed for an IPO in which it hopes to raise $400 million. The shares will be sold through a "dutch auction" process similar to that used by Google (GOOG) in 2004. The offering could serve as an important indicator of future IPO prospects for the managed hosting sector, which has been a focus for investment by venture capital and private equity firms.

Rackspace is the world’s largest privately-held managed hosting specialist, and has become known for its strong brand, built on a commitment to "Fanatical Support." The San Antonio, Texas company filed for a public offering in 2000, only to withdraw its plans after the dot-com crash chilled the market for Internet-related IPOs.

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Intrepid Potash IPO: Soaring Shares Signal Fertilizer Bubble?
Abbi Adest submits:

Get your noseplugs ready. According to Bloomberg, Intrepid Potash's (IPI) surging shares on its first day of public trading may be a sign of a nascent fertilizer bubble:

After surging 58 percent in its first day of trading, Intrepid -- the largest U.S. producer of potash, according to its IPO prospectus -- is valued at 201 times last year's pro-forma earnings of 25 cents a share.

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Hot IPOs: Intrepid Potash and American Water Works
Tate Dwinnell submits:

Last year was a big year for IPO's, but it's been a slow start this year with the market languishing. Outside of the Visa (V) IPO, there has been little for traders to get excited about. That is until yesterday when the largest producer of potash, Intrepid Potash (IPI) began trading and soaring more than 50%.

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IPO Lessons from Africa
Knockout Analyst submits:

Last week, the Wall Street Journal had a piece about the IPO of State-owned Telecom Safaricom. Normally, an IPO of any Kenyan company - especially on a local exchange - would simply fly under the radar of international observers. However, there are important lessons that can be learned here, and I'd be remiss if I passed up this opportunity.

The situation is best summed up as mass hysteria.

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Why a Severe IPO Drought Is Actually Extremely Bullish

Although I’ve previously touched on the predictive quality of the IPO market, I wanted to bring it up again because what last year was a slow trickle has now dried up to an outright drought.

So far in the first quarter of 2008 we’ve had only 12 IPOs: 5 in January, 4 in February and 3 in March. The last one being the high profile initial public offering of Visa (V). It added an enormous $18 billion to the quarterly value number, leaving less than a billion dollars for the other 11 IPOs.

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Materials IPO: Intrepid Potash Competes with Mosaic

Intrepid Potash (IPI) is the largest US-based producer of potash – potassium chloride.

Complete Story »

Gaming Software IPO: Digital Domain Competes With Electronic Arts, Activision

Digital Domain (DTWO) creates digital imagery for films, TV ads, interactive visuals, and video games.

All quotations are from the company’s most recent S-1 filing with links provided.

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Water Utility IPO: American Water Works

American Water Works (AWK) provides water and waste water services to 32 states in US plus Ontario, Canada.

All quotations are from the company’s most recent S-1 filing with links provided.

Complete Story »

Visa and Mastercard: The Mortgage Brokers of the Credit Card Industry
Sean Miller submits:

There is definitely a shift from cash to credit cards worldwide, just as there was a shift from renting to home ownership based on the wide availability of mortgages, but is only a matter of time before this comes to a screeching halt.

Visa (V) and MasterCard (MA) get paid a fee which is equal to a percentage of each transaction, and have no credit risk. Mortgage brokers have no direct credit risk either and they get an upfront fee when the transaction closes. If a borrower defaults, mortgage brokers do not lose a penny. The losers are those who bought the securitized mortgages. Mortgage brokers were doing great until borrowers began to default. The rating agencies downgraded the debt, and now, it is virtually impossible to securitize pools of mortgages. There are still plenty of houses for sale, but the number of transactions has plummeted, and the unemployment rate among mortgage brokers has skyrocketed.

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Upcoming IPOs: Slim Pickings Make Penthouse Look Like a Winner
J. Christoph Amberger submits:

I just received a mass emailing by an old associate in the financial publishing business. It contained tantalizing glimpses of a new product the team back home at the ranch is working on. Also included was the promise of a brand-spanking new trading information service, run by a mysterious man writing under a somewhat mawkish pen name. (Yes, he's that much of an insider.)

Two parts of the promise intrigued me: Access to his "Rolodex full of contacts". And his help to profit on IPOs, "Wall Street-style". Especially the last promise had me scratch my head. Because search as I might, these are lean days when it comes to IPOs.

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Apollo's Discount IPO
Felix Salmon submits:

One thing the stock market has in common with the art market is a very strong allergy against primary-market offerings which have fallen in price from the last time round. It's one of the reasons why gallerists invariably sell their artists' work well below the secondary-market price: They want to leave enough room so that they can be sure to be able to raise that artist's prices at her next show. And the same thing goes for companies: Each round of fundraising, from angel to VC to IPO to secondary offering, is generally priced at a significant premium to the last, and it's a sign of desperation and/or distress when a company raises equity at a lower price than it has in the past.

None of which, it seems, is something which keeps Apollo Management's Leon Black up at night. He's going public, despite having privately listed his stock at a higher price:

Complete Story »

Weakened Financials Show Off Their Visa IPO Profits
Money Morning submits: by Mike Caggeso

Visa Inc.’s (V) record-setting $17.86 billion initial public offering last month provided a much-needed dose of good news to the economic mire we’re in.

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Visa: The Most Successful New Stock in Years?

Visa (NYSE: V), like its main rival MasterCard (NYSE: MA), is not a bank and it does not make loans, assume credit risk or set interest rates on credit cards -- the actual loan is made by the bank or consumer credit firm that issues the card. Rather, Visa simply handles the processing of card payments made with Visa branded cards. Visa derives revenues in two main ways ways: fees charged to merchants every time a payment is processed, and the licensing fees it charges banks for the use of its "Visa" brand.

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A Look Back At the Blackstone IPO
Roger Ehrenberg submits:

Amidst the detritus of today's broken markets, I felt compelled to look back and review some of my thoughts around the Blackstone (BX) IPO. Why? Because I had thought their filing had pretty much signaled a frothy equity market, and certainly a top for the private equity business, due both to the "perfect" environment for raising debt capital (e.g., savvy, opportunistic issuers coupled with liquidity-rich, brain-dead investors) and that some of the smartest money in the business wanted to take chips off the table and raise permanent capital. And were willing to take this step even in the face of much criticism and consternation from their LPs and others. Cries of hypocrisy came from every direction. But still Mr. Schwartzman pressed on.

Here is an extract from a post I had written 3/17/2007 titled Blackstone Going Public? Watch Your Wallet, Brothas:

Complete Story »

Xinyuan Real Estate: Depressed in Price, All Smiles in Value
Cameron Fous submits:

It's been a while since I found one of these great Chinese stocks that were so easy to find months ago (back then, it was like trying to find a piece of hay - in a pile of hay). Since Xinyuan’s (XIN) IPO in December, the trend has been in bear mode as the market has faced credit and housing issues all year long lead by the U.S., which hasn’t been in favor of upside movement for stocks. I’m not one to call a bottom in the housing sector by any means, but there are always short squeezes and short term opportunities to capitalize on in depressed stocks on the long side.

Fundamentally, XIN is deeply undervalued within the residential construction industry, carrying an extremely low forward price/earnings ratio of just 4.38x, compared to the industry average of 26.67x. For the recent fourth quarter, XIN posted strong results with income up 81%, excluding a one time charge, and revenue more than doubling to $91m.

Complete Story »

Neutral Tandem: Suffering from a Supply/Demand Imbalance
Zachary Scheidt submits:

One of the few successful IPO stocks from late in 2007 is Neutral Tandem Inc (TNDM). The company is a telecom technology firm that essentially facilitates the connection between carriers. The company offers an alternative to the traditional ILEC tandem services and it operates in specific geographic markets. Revenue is earned through the number of minutes the carrier actually uses as it connects calls through Neutral Tandem’s infrastructure.

Management has laid out a three part initiative to drive growth over the next several years:

Complete Story »

IPO Analysis from Seeking Alpha
'IPO Analysis' Tag RSS Syndication from SeekingAlpha.com

 

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.

VMware: All hail the August tech IPO

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.

 

New World's IPO raises £1.1bn
The Czech coal miner, the latest foreign mining company to list in London, priced its initial public offering at the top of the range and sold just over 83m shares

Yangtze China to raise $20m via Aim
A fund seeking to back companies that are expected to benefit from the growing affluence of the middle class in China is planning to float on Aim this month

India's Adani plans $1bn IPO
India's Adani Group is planning a $1bn-$1.5bn initial public offering of its power unit, making it the first company to test the waters in the country's stock market since the troubled listing of Reliance Power

UK float for Russian rail group
Globaltrans, Russia's largest private train operator, expects to raise $449m when it lists on the London Stock Exchange. Half of the proceeds will fund future investments

Private equity IPOs are top performers
Flotations by buy-out companies outstripped other types of initial public offerings by 9% and the overall London stock market by 20% in their first year of trading

Sacyr is forced to pull toll road IPO
The debt-laden Spanish construction and services group has withdrawn the planned public offering of its Itínere business, citing 'current market conditions'

Turk Telekom's IPO launched
Turkey launched the sale of a stake in Turk Telekom in a move that is expected to raise about $2bn, which would make it the biggest ever Turkish initial public offering

Rusal's IPO could be 'dual or triple listing'
Oleg Deripaska has said his United Company Rusal may float shares in Europe, Asia and Russia as the world's top aluminium producer seeks to push ahead with an initial public offering delayed from last year

Zijin Mining almost doubles on debut
Shares in Zijin Mining, the biggest gold producer in the world's biggest gold producing country, almost doubled in value on its debut in Shanghai

Cash from new listings up 18% in Shenzhen
Cash raised by fresh listings in Shenzhen has risen by 18.2 per cent in spite of the market dropping by more than a third in value and a fall in initial public offerings suffered by Shanghai

Russian railway signals higher IPO price
The first Russian railway company to float on the London Stock Exchange is to seek a higher-than-expected price when it lists in the next few months, it announced

Hilfiger to look again at European flotation
Tommy Hilfiger says it will look again at a flotation in Europe in the autumn of 2009 having shelved plans for a float earlier this year because of market volatility

China Southern Railway set for IPO
China South Locomotive and Rolling Stock plans to raise up to $2.1bn in a dual Shanghai and Hong Kong initial public offering scheduled for June, reflecting continued demand for China infrastructure stocks in spite of the slump in both markets

Battle for listings full of bluster
In the global battle for exchange listings, the sound of an exchange beating its chest over having won a big-name listing has become wearily familiar as the rivalry between New York and London has raged.

New World Resources plans London IPO
The Czech coal producer wants to raise at least €1bn to fund new mines in Poland and Ukraine and is likely to enter the FTSE 100 index if its listing is successful

FT.com - IPOs
FT.com - IPOs

 

Almost Family, Inc. Announces Exercise of Over-Allotment Option

The Cushing MLP Total Return Fund Completes Registered Sale of Equity

Petrohawk Energy Corporation Prices Senior Notes Offering

Petrohawk Energy Corporation Prices Common Stock Offering

Takeda Successfully Completes Tender Offer for Millennium Pharmaceuticals, Inc. and Announces Subsequent Offering Period

Fannie Mae Prices Offerings of $2.25 Billion of Common Stock and $2.25 Billion of Mandatory Convertible Preferred Stock

Hovnanian Enterprises Announces Pricing of Its Common Stock Offering

Colfax Corporation Announces Pricing of Initial Public Offering

Gomez Files Registration Statement for Proposed Initial Public Offering

Hovnanian Enterprises Inc. Announces Follow-On Offering of 14 Million Shares of Common Stock

NightHawk Radiology Holdings, Inc. Announces Dutch Tender Offer for Its Common Stock

Legg Mason Prices Offering of $1 Billion of Equity Units

American Stock Exchange Lists Merrill Lynch's Accelerated Return Notes Linked to the Nikkei 225 Index

Petrohawk Announces Public Offering of 21,000,000 Shares of Common Stock

Huntington Bancshares Incorporated Announces $69 Million Added to Convertible Preferred Stock Offering

Petrohawk Announces $500 Million Offering of Senior Notes

NewPage Group Inc. Files Registration Statement for Initial Public Offering of Common Stock

Kennedy Wilson Raising $40 Million Through Issuance of Preferred Shares

WuXi PharmaTech Announces Postponement of Proposed Follow-on Offering

Popular, Inc. Announces Proposed Offering of Non-Cumulative Perpetual Preferred Stock

PR Newswire: Offerings
Offerings press releases distributed via PR Newswire.

 

 

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