US Treasury Department appoints advisor for GM IPO
The US Treasury Department has appointed Lazard Ltd. as an advisor on the planned IPO for General Motors, as reported by Reuters citied by the source familiar to the deal. The US Treasury Department holds a 61% stake in the company while a 12% stake is held by Canada and the province of Ontario. As stated in the agreement, Lazard will receive USD0.50 mn per month for the first 12 months and the contract will last for 18 months, which could be extended. GM will float its issue later this year or by 2011. Source: Reuters
Chesapeake Midstream increases offer size
Chesapeake Midstream Partners L.P. filed an amended S-1/A registration statement with the US SEC on 24 May 2010. According to the filing, the company now intends to raise USD488.75 mn from its offering, higher than the previous expectation of USD345 mn. The shares are expected to commence trading on the New York Stock Exchange under the ticker symbol; CHKM. Source: SEC Filing, Bloomberg
NXP updates IPO details
NXP Semiconductors NV filed an amendment to its F-1 registration statement with the US SEC on 24 may 2010. According to the filing, the company has appointed KKR Capital Markets LLC to the team of lead managers for its USD1.150 bn IPO. The company has also selected the NASDAQ Global Market to list its shares. Source: SEC filing, Bloomberg
Severstal Gold plans for London Listing
Severstal Gold has commenced discussions with JP Morgan and Renaissance Capital to become advisors for the floatation of its gold division, as reported by the Mail citing unidentified source. The company is planning to raise approximately GBP1 bn (USD1.5 bn) from its offering and intends to list on the London Stock Exchange by the end of 2010. Proceeds from the offering will be used to repay outstanding debt and to fund the company’s expansion plans. Source: The Mail
Shenzhen Fastprint Circuit Tech Company announces its IPO schedule
As reported by Bloomberg and a number of Chinese language news portals, Shenzhen Fastprint Circuit Tech Company has announced its plans to list on the Shenzhen Stock Exchange, under the ticker symbol: 002436. The company plans to conduct its road show and price enquiries from 26 May 2010-28 May 2010 and to announce the offer price on 01 June 2010. The subscription date is set for 02 June 2010 for both online and offline offerings. Source: Sohu, Money163, Bloomberg
Zhejiang Wanliyang Transmission Company announces its IPO schedule
As reported by Bloomberg and a number of Chinese language news portals, Zhejiang Wanliyang Transmission Company has announced its plans to list on the Shenzhen Stock Exchange, under the ticker symbol: 002434. The company plans to conduct its road show and price enquiries from 26 May 2010-28 May 2010 and to announce the offer price on 01 June 2010. The subscription date is set for 02 June 2010 for both online and offline offerings. Source: Sohu, Money163, Bloomberg
Guangdong Pibao Pharmaceutical announces its IPO schedule
As reported by Bloomberg and a number of Chinese language news portals, Guangdong Pibao Pharmaceutical Company has announced its plans to list on the Shenzhen Stock Exchange, under the ticker symbol: 002433. The company plans to conduct its road show and price enquiries from 26 May 2010-28 May 2010 and to announce the offer price on 01 June 2010. The subscription date is set for 02 June 2010 for both online and offline offerings. Source: Sohu, Money163, Bloomberg
Chang Jiang Runfa Machinery announces its IPO schedule
As reported by Bloomberg and a number of Chinese language news portals, Chang Jiang Runfa Machinery Company has announced its plans to list on the Shenzhen Stock Exchange, under the ticker symbol: 002435. The company plans to conduct its road show and price enquiries from 26 May 2010-28 May 2010 and to announce the offer price on 01 June 2010. The subscription date is set for 02 June 2010 for both online and offline offerings. Source: Sohu, Money163, Bloomberg
Glodon Software Company drops on Shenzhen listing
Glodon Software Company Ltd. made its debut on the Shenzhen Stock Exchange on 25 May 2010. The shares opened at CNY58.91, 1.6% above the set offer price of CNY58.00 per share, reaching an intraday high of CNY59.48 and an intraday low of CNY56.01, before closing at CNY56.69, 2.3% below the offer price. A total of 6.7 mn shares were traded on the first day. Source: Bloomberg
Knowledge Economic City starts subscription period
Knowledge Economic City commenced its roadshow on 24 May 2010 and is expected to end on 30 May 2010, as reported by arabnews.com. The company is planning to raise SAR1,021 mn (USD272 mn) from its offering and is expected to list on the Saudi Stock Exchange. Source: Arab News
Kulczyk makes a weak Warsaw debut
Kulczyk Oil Ventures made its debut on the Warsaw Stock Exchange on 25 May 2010. The shares opened at PLN1.77, 6% below the offer price of PLN1.89 per share. The stock reached an intraday high of PLN1.91, an intraday low of PLN1.74 and closed at PLN1.83, 3% below the offer price. A total of 4.43 mn shares were traded on the stock’s debut. Kulczyk Oil Ventures completed its IPO by offering 191.394 mn shares, comprising 5.7 mn shares for retail investors and 160.694 mn shares offered via placement. The company priced its offering at PLN1.89 per share, raising PLN361.73 mn (USD109.41 mn) from the offering. Source: Bloomberg
Prometheus revises offer details
Prometheus Laboratories Inc. filed an S-1/A amendment with the US SEC on 24 May 2010. According to the filing, the company intends to raise USD151.31 mn from the offering, compared to the previous offer size of USD100 mn. The company has appointed Goldman Sachs & Co., Credit Suisse, Sun Trust Robinson Humphrey, Cowen and Company and Wedbush PacGrow Life Sciences as the underwriters. The shares will trade on the NASDAQ under the ticker symbol; RXDX. Source: SEC Filing, Bloomberg
Hunan Hansen Pharmaceutical rises 20.6% on Shenzhen debut
Hunan Hansen Pharmaceutical Company made its listing debut on the Shenzhen Stock Exchange on 25 May 2010. The stock opened at CNY42.33, up 18.2% from the retail launch price of CNY35.80. It reached an intraday high of CNY43.50, and an intraday low of CNY39.50. The stock closed at CNY43.17, up 20.59% from the offer price. A total of 12 mn shares were traded on the first day of trading. Source: Bloomberg
Jiangsu Jiujiujiu Technology makes an impressive Shenzhen debut
Jiangsu Jiujiujiu Technology Co. Ltd. made a strong debut on the Shenzhen Stock Exchange on 25 May 2010. The shares opened at CNY33.02, 28% above the offer price of CNY25.80 per share, reaching an intraday high of CNY39.57 and an intraday low of CNY33.01, before closing at CNY39.30, 52% above the offer price. A total of 15.4 mn shares were traded on the first day. Source: Bloomberg
Jiangsu Yoke Technology makes a robust Shenzhen debut
Jiangsu Yoke Technology made its Shenzhen Stock Exchange debut on 25 May 2010. The shares opened at CNY30.56, 2% above the set offer price of CNY30 per share, reaching an intraday high of CNY34.13 and an intraday low of CNY30.56, before closing at CNY32.65, 9% above the offer price. Approximately 15 mn shares were traded on the first day. Source: Bloomberg
Transaero Airlines plans for USD200 mn IPO
Russia based airline company, OAO Transaero Airlines, is planning to conduct an IPO in 2010, as reported by Reuters citing sources close to the situation. The company aims to raise RUB6.2 bn (USD200 mn) and intends to launch the offering in the Autumn of 2010. No further details have been announced regarding the development. Source: Reuters
Cie Automotive SA plans to float its Brazilian subsidiary
Spain based automotive accessories company, Cie Automotive SA, is planning to list its Brazilian subsidiary; Autometal SA, through an IPO, as reported by Bloomberg quoting Valor Economico. The company intends to raise BRL800 mn (USD432 mn) through the offering and is expected to list on the Bovespa. No further details have been disclosed. Source: Bloomberg
Yunnan Lincang Xinyuan Germanium prices IPO at CNY30.00 per share
As reported by multiple Chinese language news portals, Yunnan Lincang Xinyuan Germanium Company has set its issue price at CNY30.00 per share. The corresponding P/E ratio is 65.22x based on FY 2009 earnings. At the set price, the company plans to raise CNY960 mn (USD140.6 mn) by issuing 32 mn shares, which will trade on the Shenzhen Stock Exchange. The subscription date is set for 26 May 2010 for both online and offline offerings. Sources: Sohu, Money163, Bloomberg
Hyundai Home Shopping Network Corp. to issue 3 mn new shares
As reported by various Korean news portals, Hyundai Home Shopping Network Corp. is planning to issue 3 mn new shares in order to raise KRW300 bn (USD251 mn). The IPO is expected to be completed in mid August 2010. The company will be listed on the Korea Exchange. Source: mt.co.kr
Kaiser China Holding Company prices IPO at CNY22.00 per share
As reported by multiple Chinese language news portals, Kaiser China Holding Company has set its issue price at CNY22.00 per share. The corresponding P/E ratio is 43.14x based on FY 2009 earnings. At the set price, the company plans to raise CNY594 mn (USD87 mn) by issuing 27 mn shares, which will trade on the Shenzhen Stock Exchange. The subscription date is set for 26 May 2010 for both online and offline offerings. Sources: Sohu, Money163, Bloomberg
Suzhou Victory Precision Manufacture prices IPO at CNY13.99 per share
As reported by multiple Chinese language news portals, Suzhou Victory Precision Manufacture Company has set its issue price at CNY13.99 per share. The corresponding P/E ratio is 34.89x based on FY 2009 earnings. At the set price, the company plans to raise CNY561 mn (USD82.1 mn) by issuing 40.1 mn shares, which will trade on the Shenzhen Stock Exchange. The subscription date is set for 26 May 2010 for both online and offline offerings. Sources: Sohu, Money163, Bloomberg
Agricultural Bank of China may issue 53 bn shares in IPO
Agricultural Bank of China (ABC) is planning to issue 53 bn shares, comprising of A and H shares, which could raise CNY178 bn - CNY205 bn (USD26 bn - USD30 bn), as reported by China Daily and multiple Chinese language news portals. The company has not disclosed the proportion of H and A shares out of the 53 bn shares in the offering. According to sources, the bank plans to submit its listing applications with the CSRC and the Hong Kong Stock Exchange on 28 May 2010 and 10 June 2010, respectively. The IPO is expected to be launched in Shanghai and Hong Kong by July 2010. National Social Security Fund, the largest strategic investor of the Agricultural Bank of China (ABC), has invested CNY15 bn (USD2.2 bn) for the IPO. According to market sources, the Agricultural Bank of China is likely to offer pre-IPO placement to its strategic investors at a price range of CNY1.50 - CNY1.80 per share. Source: China Daily, Sohu, CFNOL
Zhejiang Unifull Industrial Fiber Company prices IPO at CNY13.50 per share
As reported by multiple Chinese language news portals, Zhejiang Unifull Industrial Fiber Company has set its issue price at CNY13.50 per share. The corresponding P/E ratio is 40.91x based on FY 2009 earnings. At the set price, the company plans to raise CNY621 mn (USD90.9 mn) by issuing 46 mn shares, which will trade on the Shenzhen Stock Exchange. The subscription date is set for 26 May 2010 for both online and offline offerings. Sources: Sohu, Money163, Bloomberg
Agricultural Bank of China may issue 53 bn shares in IPO
Agricultural Bank of China (ABC) is planning to issue 53 bn shares, comprising of A and H shares, which could raise CNY178 bn - CNY205 bn (USD26 bn - USD30 bn; HKD203 bn – HKD234 bn), as reported by China Daily and multiple Chinese language news portals. The company has not disclosed the proportion of H and A shares out of the 53 bn shares in the offering. According to sources, the bank plans to submit its listing applications with the CSRC and the Hong Kong Stock Exchange on 28 May 2010 and 10 June 2010, respectively. The IPO is expected to be launched in Shanghai and Hong Kong by July 2010. National Social Security Fund, the largest strategic investor of the Agricultural Bank of China (ABC), has invested CNY15 bn (USD2.2 bn; HKD17 bn) for the IPO. According to market sources, the Agricultural Bank of China is likely to offer pre-IPO placement to its strategic investors at a price range of CNY1.50 - CNY1.80 (HKD1.7 – HKD2.0) per share. Source: China Daily, Sohu, CFNOL
Shenzhen InfoTech Technologies Company set to list on 26 May 2010
Shenzhen InfoTech Technologies Company has announced the listing date for its offering as 26 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163
Hainan Honz Pharmaceutical Company set to list on 26 May 2010
Hainan Honz Pharmaceutical Company has announced the listing date for its offering as 26 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163
Wuhu Token Science Company set to list on 26 May 2010
Wuhu Token Science Company has announced the listing date for its offering as 26 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163
Winall Hi-tech Seed Company set to list on 26 May 2010
Winall Hi-tech Seed Company has announced the listing date for its offering as 26 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163
