The IPO Buzz: Summer Rain and IPOs

The issuance of IPOs was mostly unaffected.
The calendar generated 17 offerings that raised about $7.2 billion. That was the most productive week since the week of Nov. 7, 2007, when 17 IPOs were priced, according to the U.S. Securities and Exchange Commission filings.
Last week’s calendar resulted in five IPOs priced above their filing ranges, six priced within range and six priced below their filing ranges. By the closing bell on Friday, Aug. 1, 2014, eight IPOs were winners, six were losers, three were unchanged, and the average gain for all 17 was 7.69 percent. That’s not a bad showing, given the stock market conditions.
This brings us to this week and a calendar of nine IPOs. They are expected to raise about $990 million.
The Power of Three
Three on this week’s calendar are what some might call “IPOs of Interest,” while three are carryovers from last week and the jury is out on the other three. The IPOs of interest are: Hoegh LNP Partners LP (HMLP – proposed); iDreamSky Technology (DSKY – proposed) and Independence Contract Drilling (ICD – proposed).
Hoegh LNG Partners LP is a Bermuda-based growth-oriented limited partnership formed to own, operate and acquire floating storage and regasification units (FSRU), LNG carriers and other LNG infrastructure assets under long-term charters. The company intends to expand its business in the FSRU, LNG carrier and LNG infrastructure market through acquisitions from Höegh LNG Holdings and third parties. Hoegh plans to pay a quarterly dividend of 33.75 cents per share, at a rate of $1.35 per share on an annualized basis, to yield 6.75 percent at the mid-point of its price range.
(For more information, please click here: Hoegh LNG Partners LP)
iDreamSky Technology believes it is the largest independent mobile game publishing platform in China. The company delivers mobile games and entertainment to mobile users. iDreamSky’s proprietary distribution channels generated 97.7 million game downloads and activations in 2013. In 2014’s first quarter alone, the company’s channels generated 23.8 million game downloads and activations. The company’s game launches include Fruit Ninja and Subway Surfers. Tencent, one of China’s biggest Internet companies, is iDreamSky’s largest shareholder. The company has built business partnerships with some of the world’s biggest mobile game developers, including Disney and Sega.
(For more information, please click here: iDreamSky Technology)
Independence Contract Drilling is a Houston-based provider of
land-based contract drilling services to oil and natural gas producers targeting unconventional resource plays. The company builds, owns and operates a fleet of newly constructed and technologically advanced, custom-designed ShaleDrille rigs that are specifically engineered to carry out the best development of its customers’ oil and gas properties. All of the company’s operating rigs are drilling in the Permian Basin.
(For more information, please click here: Independence Contract Drilling)
Looking into the week of Aug. 11, 2014, the calendar has four IPOs planning to raise about $170 million. But more names could pop onto the calendar by the time next week rolls around.
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 opinions.