And the groundswell continues.
For the year to date, bankers have priced 116 IPOs, according to the U.S. Securities and Exchange Commission’s filings. That exceeds the 112 IPOs priced in 2008 and 2009. (The breakdown: 50 deals in 2008 and 62 IPOs in 2009.)
- The busiest two-year IPO traffic since 1980 was in 1996 and 1997 with 1,496 offerings.
- The slowest two-year IPO traffic since 1980 was in 2008 and 2009 with 112 offerings.
- So far, 2010 has surpassed 2008 and 2009 combined.
And the beat goes on, as the filings continue to pour into the IPO pipeline. From Jan. 1, 2010, through Friday, October 22, a total of 221 companies have filed plans to go public. That number is up from 76 filings over the same time span a year ago.
Now on to the future: This week’s calendar has six deals. Another six IPOs are lined up for November’s first week. Investment professionals bet that all will get done.
Doctors, Dresses and Veggies
The outlook for this week’s traffic is equally divided between those reportedly on the “most wanted” list and the rest. The favorites, listed below, make their money from the realms of doctors, dresses and veggies. (Perhaps there’s a message in reverse for the wannabe fashionistas among us: Eat veggies, shop for dresses in a smaller size and skip some doctors’ appointments.)
ExamWorks Group (EXAM – proposed) is an Atlanta-based provider of independent medical examinations, peer reviews, bill reviews and other related services to the insurance and legal industries, third-party administrators, self-insured parties and federal and state agencies.
For the three months ending Sept. 30, 2010, ExamWorks reported net income of $77,000 on total revenues of $48.6 million, compared with a net loss of $922,000 on total revenues of $14.2 million for the same period a year ago.
The company competes in the healthcare industry. The sector, Dow Jones U.S. Health Care Index (DJUSHC), has been strong. On Friday, the Index closed at 324.26, UP 11.6 percent from 290.67, its recent low on Aug. 31.
ExamWorks plans to price 10.3 million shares at $16 to $18 each. The company will offer 7.7 million shares and selling shareholders will offer 2.6 million shares. The deal is expected to be priced on Wednesday evening to trade on Thursday, Oct. 28, 2010.
Mecox Lane Limited (MCOX – proposed), based in Shanghai, operates an online platform to sell apparel and accessories in China to young urban women and girls.
For the three months ending June 30, 2010, Mecox reported net income of $4.1 million on total revenues of $58.8 million, compared with net income of $1.9 million on total revenues of $27.3 million for the same period a year ago.
Mecox Lane plans to price 11.7 million American Depositary Shares (ADS) at $8 to $10 each. The company will offer 9.4 million ADS and selling shareholders will offer 2.3 million ADS. The deal is expected to be priced on Monday evening to trade on Tuesday, Oct. 26, 2010.
You’ve got to love this one.
Le Gaga Holdings Limited (GAGA – proposed) is based in Hong Kong. The company believes it is one of the largest greenhouse vegetable producers in China. (No connection to pop music sensation Lady Gaga. But this does raise a question: Will Lady Gaga raid their warehouse for veggies to create her next awards ceremony dress – leaving her red meat couture behind?)
For the three months ending June 30, 2010, Le Gaga reported net income of RMB23.5 million ($3.5 million) on total revenues of RMB83.3 million ($12.3 million), compared with net income of RMB28.3 million on total revenues of RMB53.8 million for the same period a year ago.
Le Gaga plans to price 10.9 million ADS at $7.50 to $9.50 each. The company will offer 9.2 million ADS and selling shareholders will offer 1.7 million ADS. The deal is expected to be priced on Thursday evening to trade on Friday, Oct. 29, 2010.
After that, it’s on to the next week and the six deals on its calendar.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do they trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.