IPO News This Week: BP Midstream Leads 8 Scheduled IPOs

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There were six initial public offerings (IPOs) on the calendar last week and five succeeded in gaining access to the public markets. The total amount raised was $2.15 billion and the average first-day pop was around 14%.

Eight IPO’s are on the coming week’s calendar and they are looking to raise a combined total of about $2.1 billion.

Here’s a recap of last week’s IPOs:

MongoDB Inc. (NASDAQ: MDB) raised $192 million after raising its expected range and then pricing above that range at $24 a share. The stock got a first-day pop of 33.6% and closed the week up 27.8%.

Sea Limited (NYSE: SE) raised $884 million in an upsized offering that priced above the expected range. The shares got a first-day pop of 8.4% on the Friday IPO.

Qudian Inc. (NYSE: QD) raised $900 million priced higher than its expected range at $24. The stock got a first-day pop of 21.6% and closed the week up 37.5%.

RISE Education Cayman Ltd. (NASDAQ: REDU) raised $160 million at an IPO price of $14.50, just above the expected range. Shares got a first-day pop of 14.6% on Friday.

RumbleOn Inc. (NASDAQ: RMBL) raised $16 million in an upsized offering that priced at $5.50, well below its last OTC price of $9.30. Shares dipped 7.5% on the stock’s first day of trading and closed the week down 6.4%.

Through the week ending October 20, IPO ETF manager Renaissance Capital reported that 117 IPOs have priced in the U.S. so far this year, up 33% year over year. Total proceeds raised through last week equaled $27.8 billion, up 96% year over year.

For 2016, Renaissance Capital reported a total of 105 IPOs, down 38% year over year from 170 in 2015. Total 2016 proceeds amounted to $18.8 billion compared with a 2015 total of $30 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

Here are the eight companies seeking a place in the public markets next week.

Ablynx NV is a Belgium-based late-stage biopharmaceutical company developing single-domain antibodies for a number of diseases. The company, which already trades on the Euronext Brussels exchange, plans to offer 7.9 million shares at an IPO price of $19.08 to raise $150 million at an implied market cap of $583 million. Underwriters include BofA/Merrill Lynch; J.P. Morgan; Jefferies; Baird; Bryan, Garnier & Company; and Ladenburg Thalmann. Shares are expected to begin trading Wednesday on the Nasdaq under the ticker symbol ABLX.

Haymaker Acquisition Corp. is a blank-check company looking to acquire a consumer and consumer-related products and services business. The firm plans to offer 30 million units (one share and one-half of one redeemable warrant) to raise $300 million at an implied market cap of $375 million. The sole underwriter is Cantor Fitzgerald. Units will begin trading Wednesday on the Nasdaq under the ticker symbol HAYU.

BP Midstream Partners LP is a master limited partnership formed by a wholly owned subsidiary of BP to own, operate, develop, and acquire pipelines and other midstream energy assets. The company plans to offer 42.5 million common units in an expected price range is $19 to $21 to raise $850 million at an implied market cap of $1.05 billion. Underwriters include Citi, Goldman Sachs, Barclays, Credit Suisse, J.P. Morgan, UBS Investment Bank, BofA/Merrill Lynch, Deutsche Bank, Mizuho Securities, MUFG, BNP Paribas, Credit Agricole CIB, and Societe Generale. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol BPMP.

CM Seven Star Acquisition Corp. is a Hong Kong-based blank-check company with no special acquisition target. The firm plans to offer 15 million units (one share and one-half of one redeemable warrant) at an IPO price of $10 to raise $150 million. Underwriters are EarlyBirdCapital and I-Bankers Securities. Units are expected to begin trading Thursday on the Nasdaq under the ticker symbol CMSSU.

National Vision Holdings Inc. is a U.S. optical retailer. The company plans to offer 15.8 million shares in an expected price range of $18 to $20 to raise $300 million at an implied market cap of $1.35 billion. Underwriters include BofA/Merrill Lynch, Goldman Sachs, Citi, KKR, Morgan Stanley, Jefferies, UBS Investment Bank, Wells Fargo Securities, Guggenheim Securities, Mizuho Securities, and Macquarie Capital. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol EYE.

ForeScout Technologies Inc. is an enterprise-level network security software provider. The company plans to offer 4.8 million shares in an expected price range of $20 to $22 to raise $101 million at an implied market cap of $942 million. Underwriters include Morgan Stanley, J.P. Morgan, Citi, BofA/Merrill Lynch, UBS Investment Bank, and KeyBanc Capital Markets. Shares are set to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol FSCT.

Merchants Bancorp is a bank holding company based in Carmel, Indiana. The company plans to offer 5.6 million shares in an expected price range of $17 to $19 to raise $100 million at an implied market cap of $487 million. Underwriters are Sandler O’Neill, Stephens Inc., Raymond James, and SunTrust Robinson Humphrey. Shares are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol MBIN.

Nexa Resources SA is a Luxembourg-based zinc miner with operations in Latin America. The company plans to offer 31 million shares in an expected IPO price range of $18 to $21 to raise $604 million at an implied market cap of $2.6 billion. Underwriters include J.P. Morgan, BMO Capital Markets, Morgan Stanley, Credit Suisse, BofA/Merrill Lynch, Citi, Scotia Capital, Bradesco BBI, Credicorp Capital, ABN AMRO, Banco do Brasil Securities LLC, Macquarie Capital, MUFG, National Bank of Canada, and RBC Capital Markets. Shares are scheduled to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol NEXA.