Next week’s calendar lists one IPO and then the market is off for the holidays. Not to worry – this has been the historical pattern for years, but first things first.
The dozen companies on this week’s IPO roster are expected to raise over $2.6 billion. There are 10 new faces at the IPO window; the other two are carryovers from previous weeks.
And hey, what’s an IPO calendar without a favorite or two?
Of this week’s 12 deals, two are the “hands down” favorites and another two are on somebody’s “most wanted” list. The buzz on the balance will crystalize as their pricing dates approach. (Subscribers: Watch for the “IPO Alert” emails.)
The Favorites
The IPOs reportedly drawing the most interest are: LendingClub (LC – proposed) and New Relic (NEWR – proposed)
LendingClub, based in San Francisco, is an online financial marketplace connecting borrowers and investors. The company believes its platform has facilitated over $5 billion in loans since it first launched in 2007, including over $1 billion in the second quarter of 2014 alone.
Bankers plan to offer 57.7 million shares at $10 to $12 each to raise about $635 million. The company is offering 50 million shares and selling shareholders are offering 7.7 million shares in the underwriting.
The IPO is expected to start trading Thursday morning on the New York Stock Exchange.
New Relic, based in San Francisco, is building what it believes to be a new category of enterprise software. It offers a cloud-based suite of products that lets organizations collect, store and analyze massive amounts of software data in real time.
Bankers plan to offer 5 million shares at $18 to $20 each to raise $95 million. The company is offering all the stock in the underwriting.
The IPO is expected to start trading Friday morning on the New York Stock Exchange.
In Play: China and Data
The IPOs reportedly on somebody’s “most wanted” list are: Momo (MOMO – proposed) and Workiva (WK – proposed)
Momo, based in Beijing, believes it has established itself as one of China’s leading mobile social networking platforms. Alibaba Investment Limited owns about 21 percent of Momo, which is China’s top dating app, according to some press reports. The company offers what it calls a revolutionary mobile-based social networking platform for users to establish and expand social relationships based on location and interests.
Bankers plan to offer 16 million American Depositary Shares of Momo at $12.50 to $14.50 each to raise $216 million. The company is offering all the shares in the underwriting.
The IPO is expected to start trading Friday morning on the NASDAQ Global Market.
Workiva, based in Ames, Iowa, provides a cloud-based and mobile-enabled platform for enterprises to collaboratively collect, manage, report and analyze critical business data in real time. Workiva’s secure software platform, Wdesk, allows users to integrate and control all of their business data, regardless of format or location, with innovative live-linking technology.
Bankers plan to offer 7.2 million shares at $13 to $15 each to raise about $101 million. The company is offering all the shares in the underwriting.
The IPO is expected to start trading Friday morning on the New York Stock Exchange.
Looking into the week of Dec. 15, 2014, the calendar has one deal aiming to raise $170 million. But more names could pop onto the calendar by the time that Monday, Dec. 15, rolls around.
Stay tuned.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.