EQP G.P. Holdings L.P. (NYSE: EQGP) displaced the previous week’s IPO of Tallgrass Energy G.P. L.P. (NYSE: TEGP) as the largest for the year to date as it sold 26.45 million common units at an IPO price of $27. The original plan called for 20 million shares in a price range of $20 to $24. The underwriters’ allotment of 3.45 million units was fully exercised at the IPO and those units are included in the total. EQT Corp. (NYSE: EQT) now owns about 90.1% of EQT G.P. Holdings and the public owns the rest.
In the week ahead there are six companies making a first run at an IPO. All three potential IPOs that did not price last week have been postponed: Anterios Inc., Gelesis Inc. and MultiVir Inc. Of the five biotechs on last week’s calendar, only two completed their IPOs: Galapagos N.V. (NASDAQ: GLPG) and Arcadia Biosciences Inc. (NASDAQ: RKDA).
IPO ETF manager Renaissance Capital reported that 63 IPOs have priced in the United States so far this year, down 42% from a year ago. Total proceeds raised through May 15 equaled $11.2 billion, down 45% compared with the same period in 2014. Of the 63 IPOs that have gone off this year, 30 have come from the health care sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past 10 years. Renaissance Capital does not include “best efforts” or blank check companies in its totals.
ALSO READ: Major Portfolio Changes for Warren Buffett and Berkshire Hathaway
Here are the seven IPOs scheduled for the week beginning May 18. No health care companies are among this week’s hopefuls.
Code Rebel Corp. is a software company that develops, markets, and licenses terminal services products that all users of Windows-based PCs or Apple Macs simultaneously to access programs to access programs on their PCs and Macs through a single device. The company plans to offer 2 million shares at an expected price of $5 per share to raise $10 million at a market cap of $63 million. The sole underwriter is Burnham Securities and this is a “best efforts” offering. Shares are expected to begin trading Tuesday on the Nasdaq under the ticker symbol CDRB.
G.P. Investments Acquisition Corp. is a blank check company that plans to offer 15 million units at $10 per unit to raise $150 million against a market cap of $187.5 million. Each unit consists of one ordinary share and one-half of one warrant; one whole warrant entitles the holder to purchase one ordinary share at a price of $11.50. Underwriter for the offering is Citigroup. The units will begin to trade Wednesday on the Nasdaq under the ticker symbol GPIAU. Once the underlying securities begin trading they will be listed on the Nasdaq under the symbol GPIA and the warrants will trade under the symbol GPIAW.
Black Knight Financial Services Inc. services provider to the mortgage industry and is being spun off from parent Fidelity National Financial Inc. (NYSE: FNF). The company plans to offer 17 million shares in a price range of $22 to $25 to raise about $400 million at a market cap of around $3.5 billion. Joint bookrunners for the offering include J.P. Morgan, Bank of America Merrill Lynch, Wells Fargo Securities, Goldman Sachs, Citigroup, Credit Suisse, Deutsche Bank, and Suntrust Robinson Humphrey. Co-managers are Dowling & Partners, Keefe Bruyette Woods, and Mizuho Securities. Shares are scheduled to price on Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol BKFS.
ALSO READ: 5 Analyst Stocks Under $10 With Massive Upside Targets
Baozun Inc. is a Shanghai-based e-commerce company that claims about 20% of the Chinese market. The company plans to offer 11 million shares in an IPO price range of $12 to $14 to raise $143 million at a market cap of about $632 million. Joint bookrunners for the offering are Morgan Stanley, Credit Suisse, and Bank of America Merrill Lynch. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol BZUN.
Community Healthcare Trust Inc. is a health care REIT that acquires and owns properties that are leased to healthcare services providers primarily outside of urban centers. The company plans to offer 6.3 million shares in an expected price range of $19 to $21, raising $125 million at a market cap of around $131 million. Joint bookrunners for the offering are Sandler O’Neill, Evercore Partners, and Suntrust Robinson Humphrey. Co-managers include Janney Montgomery Scott, Oppenheimer & Co., and BB&T Capital Markets. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol CHCT.
Press Ganey Holdings Inc. (formerly PGA Holdings Inc.) is a patient experience measurement, performance analytics and strategic advisory solutions for healthcare organizations. The company plans to offer 8.9 million shares in an expected price range of $22 to $24 to raise about $205 million at a market cap of $1.2 billion. Joint bookrunners for the offering include Barclays, Goldman Sachs, William Blair, and Wells Fargo Securities. Co-managers include Raymond James, Baird, BMO Capital Markets, and Avondale Partners. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol PGND.
ALSO READ: The Most Popular Stores in America
Shopify Inc. is an Ottawa-based firm that provides a cloud-based commerce platform for small and medium-sized businesses. The company expects to offer 7.7 million shares in an IPO price range of $12 to $14, raising about $100 million at a market cap of around $968 million. Shares are expected to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol SHOP. Shares will also trade on the Toronto Stock Exchange under the ticker symbol SH.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.