The lifeblood of the IPO calendar has, is and will always be companies filing to go public. And this year’s filing traffic is noteworthy.
Over the last three weeks, 16 companies filed for an IPO, according to the U.S. Securities and Exchange Commission. They aim to raise $3.0 billion. Those numbers are dramatically higher than in 2009.
Over the same period last year, only three companies had filed to go public. They hoped to raise $1.6 billion.
From Jan. 1 through July 9, 2010, 134 companies filed to go public. They were looking to raise $30.7 billion.
Flip the calendar back to a year ago: From Jan. 1 through July 10, 2009, only 17 companies had filed to go public. They hoped to raise $4.6 billion.
And there’s more.
Over the 12-month period from July 1, 2009, to July 1, 2010, the pipeline had 144 IPOs expecting to raise $36.7 billion.
Over the previous 12-month period from July 1, 2008, to July 1, 2009, the pipeline had only 43 IPOs looking to raise $12.7 billion.
This past week, four companies filed amendments announcing proposed offering terms, and three found their way on to the IPO calendar with pricing dates. That raises the visible new-issues calendar to eight — up from three a week ago. Admittedly, this is not exactly a landslide, but the IPO market does have just a few things going for it.
July’s stock market got off to a roaring start. The three major U.S. stock indexes scored a sharp rally, gaining over 5 percent each for the first week of July. (And that was a holiday-shortened week, to boot.) A 5 percent weekly gain is something that never hurts the IPO calendar.
Another factor: The three indexes are well below the 2010 closing highs set in late April. As of Friday’s close, the Dow Jones Industrial Average was off 9 percent, the Nasdaq Composite was off 13.2 percent and the S&P 500 was off 11 percent. That should leave plenty of room for the traditional “summer rally.”
Conclusion: A building IPO pipeline is being fanned by a strong stock market, which translates into a bountiful IPO calendar.
Four “Little Doggies”
This week’s calendar lists four IPOs and the dollar volume is large -– over $1 billion. And a couple of deals have caught the eyes of the IPO cowboys: Qlik Technologies (QLIK – proposed) and RealD (RLD – proposed).
Qlik Technologies is a Radnor, Pennsylvania-based provider of business intelligence software. Its platform software, QlikView, offers users software tools to search and query business data.
For the three months ending March 30, 2010, Qlik reported a loss of $119,000 on revenues of $43.8 million, compared with a loss of $4.3 million on revenues of $26.4 million for the same period a year ago.
Bankers plan to offer 11.2 million shares at $8.50 to $9.50 each to raise about $100 million. The IPO is to be priced Thursday evening, to start trading on Friday, July 16.
RealD is a Beverly Hills-based licensor of 3-D technology for movie theaters. The company has outfitted more than 5,300 theaters in 50 countries. RealD’s technology is also used by engineers, industrial designers and scientific researchers for applications in consumer electronics, education, aerospace, defense and health care.
For the three months ending March 26, RealD reported a loss of $20.9 million on revenues of $76.7 million, compared with a loss of $6.8 million on revenues of $20.6 million for the same period a year ago.
Bankers plan to price 10.75 million shares at $13 to $15 each to raise $150 million. The company plans on offering 6 million shares and selling shareholders plan to offer 4.75 million shares. The IPO is to be priced Thursday evening, to start trading on Friday, July 16.
Hello Again, Henry Kravis
On Thursday, July 15, KKR & Co. L.P. (KKR – proposed), the New York-based private equity firm founded by Henry Kravis and George Roberts, is scheduled to start trading on the New York Stock Exchange.
It is not an IPO.
KKR has registered 204.9 million common units with the U.S. Securities and Exchange Commission. The units are to be distributed to holders of common units of KKR & Co. (Guernsey) L.P. in exchange for their Guernsey common units. The exchange is a one-for-one swap.
On July 9, 2010, KKR Guernsey’s units closed on Euronext Amsterdam Exchange at $10.03 per common unit.
If you think you’ve got a “hot issue” in KKR — you can buy all you want in Europe ahead of its NYSE debut.
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.