The 22 initial public offerings (IPO) that were originally scheduled for last week added up to the highest total since 2000. The week ahead won’t match that, but it’s another busy week with 10 companies expected to come public.
What a year it’s been so far. According to Renaissance Capital, 181 IPOs have priced in the United States so far this year, up 56% from a year ago. Total proceeds raised come to $39.8 billion, up nearly 58% from 2013. In the month of July, IPO proceeds totaled $8.4 billion, the highest monthly total so far in 2014. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years.
The biggest event of the week is not an IPO but a secondary offering from U.K. soccer club Manchester United PLC (NYSE: MANU). The majority-owner Glazer family is selling 8 million shares (about 5%) of the English team. At Friday’s closing price of $18.50, that translates to $148 million. The underwriters have an overallotment option on 1.2 million additional shares. Following the offering, the Glazer family will own about 85% of ManU. The family also owns the NFL’s Tampa Bay Buccaneers.
IPOs scheduled last week for Lantheus Holdings, Mapi-Pharma and Sirva were postponed and have not been rescheduled.
Here is a brief look at each of the coming week’s IPOs.
Delayed from last week, Auris Medical Holding A.G. is a Switzerland-based clinical-stage biopharma company focused on treatment of inner ear disorders. The company plans to sell 6.9 million shares in a price range of $10 to $12 in order to raise about $76 million. No date has been fixed for the IPO. Shares will trade on the Nasdaq under the ticker symbol EARS.
In another IPO that had been scheduled for last week, Tobira Therapeutics Inc., a clinical stage biopharma developing therapies for liver disease and HIV, among others, plans to offer 4.6 million shares in a price range of $12 to $14, raising $60 million. Shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol TBRA.