Investing

IPO Preview: Another Big Week Ahead

IPO
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Following a week with eight initial public offerings (IPO) launched, the coming week has 11 more on the table, including 2 that didn’t make it out last week. The one everyone will be watching is Chinese social media firm Weibo, the Twitter of China. Another one that should draw some interest is Sabre, the parent of online travel reservation site Travelocity.

Weibo Corp. plans to offer 20 million American Depositary Shares (ADSes) in an anticipated price range of $17 to $19, using the ticker “WB.” One ADS is equal to one Class A ordinary share. The company’s majority owner is Sina Corp. (NASDAQ: SINA) which will retain a controlling interest of 57% of the Class A shares following the IPO. Sina will also hold 80% of Weibo’s Class B shares which have 3 votes each but are otherwise identical to the Class A shares.

Another Chinese company that has filed for an IPO is Alibaba. The web-search company owns about 18% of Weibo and has indicated that it intends to exercise its option to raise its stake to 32% and to appoint one member to Weibo’s board of directors. There is even some speculation that Alibaba will try to acquire Weibo once the dust settles on this IPO.

Yahoo! Inc. (NASDAQ: YHOO), which owns 24% of Alibaba, will also be paying attention to Weibo’s IPO.

City Office REIT Inc. delayed its IPO from last week and is now expected to begin trading on Tuesday. The company plans to offer 6.67 million shares in an expected price range of $14 to $16. The company is based in Vancouver, B.C., and owns and operates office properties in the southern and western United States. The stock will trade on the New York Stock Exchange under the ticker symbol “CIO”.

Beijing-based Leju Holdings Ltd. is an online-to-offline real-estate services provider in China. The company plans to offer 17.7 million American Depositary Receipts (ADRs) in a price range of $10 to $12. Each ADR is equal to one ordinary share. The ADRs are expected to price on Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol “LEJU”.

Moelis & Co. is a global investment bank based in New York. The bank plans to offer 7.3 million shares in an expected price range of $26 to $29 a share. Shares are expected to price on Monday and begin trading Tuesday on the New York Stock Exchange under the ticker symbol “MC”.

Opus Bank is a California-chartered commercial bank. The bank plans to offer 5.8 million shares in an expected price range of $34 to $36 a share. The stock is expected to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol “OPB”.

Paycom Software Inc. is another IPO delayed from last week. The company provides cloud-based human resources management software. The company plans to offer 6.65 million shares in an expected price range of $18 to $20. The shares price on Monday and begin trading Tuesday on the New York Stock Exchange under the ticker symbol “PAYC”.

Quotient Ltd. is a commercial-stage medical diagnostics firm. The company plans to offer 5 million shares in an planned price range of $14 to $16. Quotient plans to price the shares on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol “QTNT”.

Sabre Corp. provides technology solutions to the global travel and tourism industry, including online reservations service Travelocity. The company plans to issue 44.7 million shares in an expected price range of $7 to $8 a share. Sabre expects to price the shares on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol “SABR”.

Sportsman’s Warehouse Holdings Inc. is an outdoor sporting goods retailer with 47 stores in 18 states primarily in the western U.S. The company plans to offer 12.5 million shares in an expected price range of $11 to $13. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol “SPWH”.

Trivascular Technologies Inc. is a maker of medical devices to treat abdominal aortic aneurysms. The company plans to offer 6.5 million shares in an expected price range of $13 to $15. Shares are expected to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol “TRIV”.

Vital Therapies Inc. is a development stage biotherapeutic firm developing a cell-based therapy to treat all forms of acute liver failure. The company plans to sell 4.5 million share in a price range of $13 to $15. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol “VTL”.

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