Azrieli Group lowers its IPO offer price

According to an amended registration statement filed with the Tel Aviv Stock Exchange by Azrieli Group Ltd., the share price of the offering will now be ILS877 per unit, 2.7% lower than the previously indicated offer price of ILS901 per unit. The company will now raise around ILS2,631 mn (USD683 mn) from its 3 mn unit sale. The institutional offer will be made on 31 May 2010 and the public offer will take place on 03 June 2010, as reported by Bloomberg according to sources who declined to be identified.

Cognis Holding Group still preparing IPO

Cognis Holding Group, which was previously reported to be a likely acquisition target by BASF, is still preparing for an IPO, as reported by Dow Jones Newswires citing unidentified company sources. The company has been preparing for its offering since the beginning of the year, and is also considering other options. Source: Bloomberg

International Taifeng Holdings announces offer details for its IPO

As reported by multiple Chinese news portals, citing people familiar with the deal, International Taifeng Holdings has announced that it will offer 280 mn shares at an indicative price range of HKD2.06 – HKD3.09 per share. At the top of the set price range, the company could raise up to HKD865 mn (USD111 mn) from the offering. We have reinstated GEO Monitor coverage of this IPO as the company now expects to raise greater than USD50 mn. The company started the roadshow for its offering on 24 May 2010 and is expected to conduct its subscription period from 31 May 2010 to 03 June 2010, announcing the offer price on 04 June 2010. The shares are expected to commence trading on the Hong Kong Stock Exchange on 11 June 2010. Source: CNFOL, HK Daily News

Youyuan International Holdings sets IPO offer price at lower end of price range

According to the latest company announcement filed with the HKEx, Youyuan International Holdings has priced its share offering at HKD2.58 per share, which is at the lower end of the price range of HKD2.58-HKD3.38 per share. At the set price, the company will raise HKD645 mn (USD82.7 mn) by offering 250 mn shares. The net proceeds, after deduction of related underwriting commission and expenses, will be approximately HKD582.2 mn (USD74.6 mn). The company is expected to list its shares on the Hong Kong Stock Exchange on 27 May 2010. The over-allotment option of 37.5 mn shares for the international underwriters will be exercisable from 18 June 2010. Sources: Company filing

Mirion Technologies postpones IPO

Mirion Technologies has postponed its IPO citing unfavourable market conditions, as reported by Reuters and Dow Jones Newswires, quoting unidentified underwriters of the offering. The company was expected to price its IPO on 26 May 2010, with the shares listing on the NASDAQ on 27 May 2010. Source: Reuters, Dow Jones Newswires

Guangzhou Zhujiang Brewery receives approval for Shenzhen IPO

Guangzhou Zhujiang Brewery Company, a large China-based beer manufacturer, has received approval from the CSRC to issue shares on the Shenzhen Stock Exchange, according to an announcement on the CSRC website. The company plans to issue 70 mn shares, with the proceeds from the offering to be used for the development of 2 large production projects, at an estimated cost of CNY1,066.8 mn (USD156 mn). Guangzhou Securities Co. Ltd has been selected as the main underwriter for the offering. Source: CSRC announcement

Intesa Sanpaolo to consult investors on Banca Fideuram’s offering

Intesa Sanpaolo SpA intends to consult investors over the coming days to gauge their interest in the upcoming IPO of Banca Fideuram, before the company’s board members decide on 04 June 2010 whether to proceed with the offering, as reported by Bloomberg citing unnamed sources. The company is also in talks with Hellman & Friedman LLC regarding selling a stake in the asset manager through the IPO, with talks expected to be completed this week. The company is yet to secure approval from the securities regulator and the Milan stock exchange for the offering. According to the Intesa’s CEO, the timing of the IPO has still not been decided. Source: Bloomberg

RealD Inc. appoints additional managers for IPO

US-based 3D technology developer, RealD Inc., filed an S-1/A amendment with the US SEC on 26 May 2010. According to the filing, the company has appointed additional underwriters for its IPO, namely; William Blair & Company, Thomas Weisel Partners LLC and BMO Capital Markets. The shares are expected to list on the NYSE under the ticker symbol; RLD. Source: SEC Filing

Shenzhen Aisidi Company set to list on 28 May 2010

Shenzhen Aisidi Company has announced the listing date for its offering as 28 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163

Jiangsu Changfa Refrigeration set to list on 28 May 2010

Jiangsu Changfa Refrigeration Company has announced the listing date for its offering as 28 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163

Hangzhou Hikvision Digital Tech set to list on 28 May 2010

Hangzhou Hikvision Digital Tech Company has announced the listing date for its offering as 28 May 2010, as reported by multiple Chinese language new portals. Sources: Sohu, Money163

Youyuan International Holdings falls on Hong Kong listing debut

Youyuan International Holdings Ltd. made its listing debut on the Hong Kong Stock Exchange on 27 May 2010. The shares opened at HKD2.30, 10.8% below the offer price of HKD2.58 per share, reaching an intraday high of HKD2.55 and an intraday low of HKD2.25, before closing at HKD2.52, 2.3% below the offer price. Approximately 66.9 mn shares were traded on the first day. Source: Bloomberg

Fujian Star-net Communication receives approval to revive its listing plan

According to the latest announcement from the CSRC, Fujian Star-net Communication Company received regulatory approval on 26 May 2010 to revive its postponed IPO plan. The company plans to issue 44 mn shares on the Shenzhen Stock Exchange under the ticker symbol: 002396. No further information regarding the timeline details of the offering have been provided. Source: CSRC

Strikeforce Mining delays listing

Strikeforce Mining Resources (SMR) has delayed the listing of its shares on the Hong Kong stock exchange, which was expected to take place on 27 May 2010, as reported by Bloomberg. SMR has secured approval for its offering but has postponed its IPO due to unfavourable market conditions. There are no further details regarding the schedule for its offering. Source: Bloomberg

Turkish Aerospace Industries may go public soon

According to Turkish news portal, Dogan Haber Ajansi, Tusas Havacilik ve Uzay Sanayi (Turkish Aerospace Industries, Inc.) may float in the short term. The aerospace company's general director, Muharrem Dortkasli, issued a statement to the press implying that the company's value was set to rise shortly, after which the company would go public. TAI generated revenues of around USD360 mn in 2009. Source: Dogan Haber Ajansi

Ncondezi may list in the second week of June 2010

According to sources close to the offering, Ncondezi Coal Company may list on the AIM board of the LSE on 11 June 2010.

Falck IPO may be delayed

Yesterday, citing Danish newspaper Borsen, Bloomberg reported that privately owned ambulance company Falck A/S may delay its offering due to a strike at the company. Citing unnamed sources, Borsen identified that the company was expected to begin its listing process as early as this week, but may have to postpone the offering until after the summer holidays if the strike is not resolved in 14 days. Source: Bloomberg

Mungana Goldmines to list on 09 June 2010

As reported by miningweekly.com citing a company statement by Kagara, the company has achieved the minimum subscription level of AUD53 mn (USD43.80 mn) to achieve uptake of shares in its Mungana Goldmines Ltd. unit. The retail subscription of the Mungana IPO has now been closed, while the institutional subscription is set to commence on 28 May 2010. The company is set to list on the Australia Stock Exchange on 09 June 2010. Source: miningweekly.com

PTC India Financial Services seeks to raise INR10 bn (USD211 mn)

PTC India Financial Services Ltd. (PFS), the financial services unit of PTC India Ltd., India’s largest power trading company, is intending to raise INR10 bn (USD211 mn) through an IPO by the end of September 2010, as reported by Bloomberg, citing the chairman of PTC. PFS currently invests in electricity generation plants and assets and the proceeds from the IPO will be used for investing in various national power projects in the South-Asia region. PTC has a 77% stake in PFS and plans to retain a 51% holding after the IPO. Goldman Sachs & Macquarie currently hold 11.5% each in PFS. The Lead Managers underwriting the offer are JM Financial Ltd., SBI Capital Markets Ltd. & ICICI Securities Ltd. Source: Bloomberg.

Mining consortium places USD4 bn bid for Queensland Rail

Queensland Rail, Australia’s largest rail coal transporter, has received a bid from a consortium of 13 mining companies, which includes BHP Billiton Ltd and Rio Tinto Plc, to acquire the state-owned rail track network for AUD4.85 bn (USD4.0 bn), in an attempt to disrupt the planned IPO, as reported by Reuters and Dow Jones Newswires. The acquisition bid is conditional upon the Queensland state to cancel its planned IPO of the track network and the coal haulage business. The consortium claims that its acquisition offer could be completed within 3 months. The Queensland government has not yet responded to the offer bid. Source: Reuters, Dow Jones Newswires

Long Bay to list on 04 June 2010

Long Bay Re is expected to list on the London Stock Exchange’s Alternative Investment Market (AIM) on 04 June 2010, according to filing submitted with the LSE. Source: Company filing

iMarket Korea secures regulatory approval for IPO

iMarket Korea Inc. received regulatory approval on 27 May 2010 to raise KRW144 bn (USD115 mn) through its IPO and list its shares on the Korea Stock Exchange (KSE), as reported by Bloomberg citing a statement issued by the KSE. Source: Bloomberg

GIC Real Estate may list overseas assets

GIC Real Estate, the real-estate business of Government of Singapore Investment Corp, is considering the floatation of its assets outside of Singapore. There is speculation in the media that GIC Real estate will float its Japanese assets, its logistics business or its Chinese assets. According to the Financial Times, the IPO is likely to focus on property holdings in China and Japan that were acquired from US logistics and distribution company, ProLogis. The FT reported that a source familiar with the discussions indicated the deal would aim to raise around USD500 mn or greater, depending on prevailing market conditions. A number of sources are reporting that Citigroup and JP Morgan are being considered as lead managers for the deal. The FT suggested that the assets could be floated as a REIT. Dow Jones quoted a person familiar with the situation as saying that a decision will be made next month. Neither GIC Real Estate or its parent company has commented on the rumours in the media. Source: Financial Time, Dow Jones, SupplyChainDigital, Reuters

Cebu Pacific IPO on hold due to market uncertainties

The initial public offering of Cebu Pacific Air has been delayed indefinitely due to the volatile global market conditions, as reported by Manila Standard Today, citing a statement issued by the President of JG Summit Holdings Inc, the holding company of Cebu Pacific Air. Source: Manila Standard Today

Romero group to list its port operations holding company

As reported by Manila Times, a Philippines daily, Harbour Centre Port Holdings is expected to go public in 4Q 10. The firm is the holding company of the Romero family's port operations. According to the president and chief executive of Harbour Centre Port Holdings Inc., Michael Romero, the IPO is targeted to raise approximately PHP1,500 mn – PHP3,000 mn (USD32 mn – USD64 mn). Source: Poten & Partners, Manila Times

Bernaerts plans for USD110 mn IPO

Belgium based property developer; Bernaerts, is planning to float a 30% stake through an IPO, as reported by Reuters citing the managing director of the company. Bernaerts aims to raise EUR90 mn (USD110 mn) from the offering with net proceeds used to pay the company’s tax liability and for general corporate purposes. The company is expected to list on the Euronext Brussels by 2H 10 and possibly by Sep 10 or Oct 2010, according to Bernaerts’ managing director. No further details regarding the offering have been revealed. Source: Reuters

Orient Express Bank planning to float

Reuters reported on 24 May 2010 that Russia-based banking services provider Orient Express Bank, is considering an IPO in 2010. This will be Russia’s first IPO in the banking sector since the financial crisis of 2008. The bank’s CEO Sergei Vlasov has said that the firm intends to raise at least USD200 mn (RUB6,245 mn) through the IPO, in order to finance M&A;activity as it targets aggressive growth. Further IPO details will be discussed in June. The company’s current major shareholders include a number of Russian businessmen and investment funds under the management of Renaissance Capital with non-blocking stakes of 11-17%. Source: Reuters