This last week may have been riddled with mixed economic data and it may have been slow on initial public offerings as earnings season lightly got underway. We have several initial public offerings on the docket for the week ahead. Four stand out in our minds which investors will want to pay close attention to (in alphabetic order): Infoblox Inc. (BLOX); Proofpoint Inc. (PFPT); Splunk Inc. (SPLK); and Tumi Holdings Inc. (TUMI).
24/7 Wall St. has previewed each of these with minor detail on what each company does, who the underwriting firms are, and some basic detail on the expected price and size of the offering.
Infoblox Inc. (BLOX) is into network automation. It notes, “Infoblox is the market leader in automated network control. Our products automate the business-critical network services required to connect networks, applications and people. We help organizations manage constant change and growing complexity.” The IPO is expected to price late in the week for what looks to be a 7.5 million share IPO in a price range of $12.00 to $14.00 per share. Morgan Stanley, Goldman Sachs, and UBS Securities are leading the offering.
Proofpoint Inc. (PFPT) in data security is set to come public in the coming week. The company’s description: “Proofpoint is an innovative security-as-a-service vendor that delivers data protection solutions that help medium- and large-sized organizations protect their data from attack and enable them to effectively meet the complex and evolving regulatory compliance and data governance mandates that have been spawned from highly publicized data breaches.” We are looking for about 6.2 million shares to price late in the week and the indicated range is $10.00 to $12.00 per share. Credit Suisse and Deutsche Bank are leading the offering.
Splunk Inc. (SPLK) is a data harvesting company to make machine data more accessible across an enterprise. It notes, “Machine data is one of the fastest growing and most pervasive segments of “big data”–generated by websites, applications, servers, networks, mobile devices and the like that organizations rely on every day. By monitoring and analyzing everything from customer clickstreams and transactions to network activity and call records–and more, Splunk turns machine data into valuable insights no matter what business you’re in. It’s what we call operational intelligence.” The company is planning to sell 13.5 million shares with a price range projected at $8.00 to $10.00 per share. The deal is expected to price late in the week and the key underwriters are Morgan Stanley, Credit Suisse Securities, J.P. Morgan Securities, and BofA/Merrill Lynch.
Tumi Holdings Inc. (TUMI) is a luxury baggage and accessories maker that makes luggage, bags, backpacks, wallets and more. Chances are high that if you are in business or like to travel you have seen their products for sale or that you have bought one for travel or daily use. The approximately 18.8 million shares are expected to go off in a price range of $15.00 to $17.00 per share. Top underwriters are Goldman Sachs, Credit Suisse, and J.P. Morgan Securities.
JON C. OGG