The IPO Buzz: February Starts with a Full Plate

As the 2017 calendar flips to February, it boasts seven IPOs. They are expected to raise almost $2.8 billion. And this marks just the first week of the month. A year ago, the 2016 IPO market opened in February – and the entire month produced only five IPOs that raised $849 million.

This week, a couple of IPOs have drawn some investors’ interest.

Housing and Education

In the crosshairs are Invitation Homes (INVH – proposed) and Laureate Education (LAUR – proposed).

Invitation Homes, based in Dallas, is a real estate investment trust (REIT) renting over 48,000 single-family houses in 13 markets in the United States. The company, controlled by the Blackstone Group, was formed in 2012. For the nine-month period ended Sept. 30, 2016, Invitation Homes generated revenues of $688 million.

Bankers plan to offer 77 million shares at $18 to $21 each to raise $1.5 billion.

(Note: For company profiles, pricing information and trading dates, please check IPOScoop.coms website.)

Laureate Education, based in Baltimore, believes it is the world’s largest network of degree-granting higher education institutions. The for-profit education company offers its services to more than 1 million students enrolled in 71 institutions in 25 countries on more than 200 campuses. The company was formed in 1999. For the 12-month period ended Dec. 31, 2016, Laureate reported net income of $313.9 million on revenues of $4.2 billion.

Bankers plan to offer 29 million shares at $17 to $20 each to raise $536.5 million.

Drugs and Energy

Rounding out February’s first week are five other deals:

Braeburn Pharmaceuticals (BBRX – proposed), based in Princeton, N.J., is a commercial-stage pharmaceutical company focused on the development and commercialization of novel long-acting medications to treat opioid addiction, pain and other serious disorders of the central nervous system.

IC Power Ltd. (ICP – proposed), based in Singapore, owns and operates power generation facilities located in key energy markets in Latin America, the Caribbean and Israel.

Kimbell Royalty Partners (KRP – proposed), based in Fort Worth, Texas, is a limited partnership formed to own and acquire mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, Kimbell Royalty owned mineral and royalty interests in about 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with about 44 percent of its aggregate acres located in the Permian Basin

Ramaco Resources (METC – proposed), based in Lexington, Kentucky, is a developer of high-quality, low-cost metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania.

Visterra (VIST – proposed), based in Cambridge, Massachusetts, is a clinical biopharmaceutical company developing precision antibody-based drugs to treat the flu and other infectious diseases. Insiders are looking to invest up to about $26.4 million in the IPO.

Next week’s IPO calendar has just one deal so far, but that could change when the U.S. Securities and Exchange Commission’s filing window opens on Monday morning.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinion.