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Bridget,
When this comes to market to you expect any pull back at all?
Visa (VISA)
Visa (VISA)
keep checking for amended S-1: http://www.sec.gov/Archives/edgar/data/1403161/000119312507242653/ds1.htm
The following charts show a comparison of total volume and total transactions relative to our major competitors for the 2006 calendar year:
Employees 5581
Revenues $3,343,000,000
Net Income $723,000,000
P.O. Box 8999
San Francisco, CA
Phone Number (415) 932-2100
http://www.visa.com
UNDERWRITERS
J.P. Morgan
Goldman Sachs
Banc of America
Citi
HSBC Corporation
Merrill Lynch
UBS Investment Bank
Wachovia Securities
Visa Plans $10 Billion Public Offering
NEW YORK (Dow Jones) -- Visa Inc. is moving forward with an initial public stock offering that will likely be the largest in years in the U.S.
According to a filing with the Securities and Exchange Commission on Friday, the San Francisco payments giant plans to sell shares in a deal that could be valued at $10 billion. While that number is viewed as a placeholder that could change as the event, expected early next year, gets closer, it would still make it the second-largest public offering by a U.S. company, behind AT&T Wireless Group's $10.62 billion IPO in 2000, according to research firm Dealogic.
Visa first announced plans to go public more than a year ago, but has been focused in recent months on a complicated restructuring that united its regional divisions under one company. At the time, Visa said it would sell a majority stake to the public. If that holds true, the offering could surpass $10 billion and approach last year's record IPO of Industrial & Commercial Bank of China.
Since October 2006, Visa's direct competitor MasterCard Inc. has seen its stock more than double, giving it a market value of $25 billion. Visa is expected to have a larger market value once it goes public.
Friday, Visa said its underwriting team will be led by the securities units of J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. Visa is expected to use the IPO to help it form alliances and become less dependent on its bank owners. The move toward an IPO means Visa will be required to report more financial data than it has in the past.
The electronic-payments industry is rolling out products and services such as mobile payments through cellphones and checkout counters that read a fingerprint. Visa dominates the industry and has aggressively pursued new forms of payment, particularly in debit cards, which are linked directly to bank checking accounts.
In fiscal year 2006, Visa U.S.A. operating revenue grew to about $3 billion from $2.7 billion the prior year, driven mainly by increases in card services and data processing fees that came from a fast-growing market for payment volumes and transactions.
During 2006, Visa handled $3.2 trillion in 44 billion transactions, making it the largest player in the industry followed by MasterCard, American Express Co. and Discover Financial Services. Its net income for the three quarters ended June 30 was $771 million, up 76% from fiscal year 2006's $437 million.
http://www.smartmoney.com/bn/smw/index.cfm?story=20071112103106
NOV: IPOs priced & trading
http://www.ipohome.com/marketwatch/priced.asp
AMCN, APEI, AREX, ARYX, BFRM, ENSG, GPH-U, GRO, ICXT, LL, NPD, OSP, QELP, SD, TNDM
http://finance.yahoo.com/q/cq?d=v1&s=AMCN%2c+APEI%2c+AREX%2c+ARYX%2c+BFRM%2c+ENSG%2c+GPH-U%2c+GRO%2c+ICXT%2c+LL%2c+NPD%2c+OSP%2c+QELP%2c+SD%2c+TNDM
Comparison charts:
AMCN, APEI, AREX, ARYX, BFRM
http://finance.yahoo.com/q/bc?s=AMCN&t=5d&l=on&z=l&q=l&c=APEI,AREX,ARYX,BFRM
GRO, ENSG, GPH-U, ICXT, LL
http://finance.yahoo.com/q/bc?s=GRO&t=5d&l=on&z=l&q=l&c=ENSG,GPH-U,ICXT,LL
SD, NPD, OSP, QELP, TNDM
http://finance.yahoo.com/q/bc?s=SD&t=5d&l=on&z=l&q=l&c=NPD,OSP,QELP,TNDM
Recently Postponed IPOs
Postponed IPOs
Company Name* Symbol File Date Underwriter Date Postponed
Affinion Group Holdings AFI 6/27/07 Morgan Stanley 10/9/07
Venture Financial Group VNBK 7/17/07 Keefe Bruyette Woods 9/27/07
CCS Medical CCSM 5/11/07 Lehman Brothers 8/15/07
Tully's Coffee TULY 4/27/07 KeyBanc Capital 8/13/07
NanoDynamics NDMX 5/4/07 Jefferies 8/8/07
GeoVera Insurance GEOV 3/26/07 J.P. Morgan 6/13/07
Photowatt Technologies PHWT 9/1/06 BMO Capital Markets 3/22/07
IPO Lockup Period Dates
Upcoming IPO Lockup Period Dates
Company Name Symbol Offer Date Lockup Days Lockup Expires
Aecom Technology Corporation ACM 5/9/07 180 11/5/07
Biodel BIOD 5/10/07 180 11/6/07
JMP Group JMP 5/10/07 180 11/6/07
Continental Resources CLR 5/14/07 180 11/10/07
Insulet PODD 5/14/07 180 11/10/07
Pinnacle Gas Resources PINN 5/14/07 180 11/10/07
Skilled Healthcare Group SKH 5/14/07 180 11/10/07
CAI International CAP 5/15/07 180 11/11/07
China Sunergy CSUN 5/16/07 180 11/12/07
Eurand EURX 5/16/07 180 11/12/07
TechTarget TTGT 5/16/07 180 11/12/07
EnerNOC ENOC 5/17/07 180 11/13/07
TriMas Corporation TRS 5/17/07 180 11/13/07
B&G Foods BGS 5/22/07 180 11/18/07
RSC Equipment Rental RRR 5/22/07 180 11/18/07
Sirtris Pharmaceuticals SIRT 5/22/07 180 11/18/07
Greenlight Capital Re GLRE 5/23/07 180 11/19/07
Helicos BioSciences HLCS 5/23/07 180 11/19/07
STARLIMS LIMS 5/23/07 180 11/19/07
Clean Energy Fuels CLNE 5/24/07 180 11/20/07
Amicus Therapeutics FOLD 5/30/07 180 11/26/07
Jazz Pharmaceuticals JAZZ 5/31/07 180 11/27/07
LDK Solar LDK 5/31/07 180 11/27/07
Response Genetics RGDX 6/4/07 180 12/1/07
Starent Networks STAR 6/5/07 180 12/2/07
Infinera Corporation INFN 6/6/07 180 12/3/07
Einstein Noah Restaurant Group BAGL 6/7/07 180 12/4/07
FBR Capital Markets FBCM 6/7/07 180 12/4/07
Limelight Networks LLNW 6/7/07 180 12/4/07
Yingli Green Energy YGE 6/7/07 180 12/4/07
BWAY Holding Company BWY 6/12/07 180 12/9/07
BioFuel Energy BIOF 6/13/07 180 12/10/07
Care Investment Trust CRE 6/21/07 180 12/18/07
AuthenTec AUTH 6/26/07 180 12/23/07
ComScore SCOR 6/26/07 180 12/23/07
Data Domain DDUP 6/26/07 180 12/23/07
Spectra Energy Partners SEP 6/26/07 180 12/23/07
Spreadtrum Communications SPRD 6/26/07 180 12/23/07
Polypore International PPO 6/27/07 180 12/24/07
PROS Holdings PRO 6/27/07 180 12/24/07
ShoreTel, Inc. SHOR 7/2/07 180 12/29/07
Dice Holdings DHX 7/17/07 180 1/13/08
Encore Bancshares EBTX 7/17/07 180 1/13/08
SemGroup Energy Partners SGLP 7/17/07 180 1/13/08
Silver State Bancorp SSBX 7/17/07 180 1/13/08
Limco-Piedmont LIMC 7/18/07 180 1/14/08
MF Global Ltd. MF 7/18/07 180 1/14/08
Netezza Corporation NZ 7/18/07 180 1/14/08
Airvana AIRV 7/19/07 180 1/15/08
hhgregg HGG 7/19/07 180 1/15/08
Orbitz Worldwide OWW 7/19/07 180 1/15/08
Meruelo Maddux Properties MMPI 1/24/07 360 1/19/08
BladeLogic BLOG 7/24/07 180 1/20/08
Monotype Imaging TYPE 7/24/07 180 1/20/08
Rex Energy REXX 7/24/07 180 1/20/08
Validus Re VR 7/24/07 180 1/20/08
ImaRx Therapeutics IMRX 7/25/07 180 1/21/08
Perfect World PWRD 7/25/07 180 1/21/08
Voltaire Ltd. VOLT 7/25/07 180 1/21/08
lululemon athletica LULU 7/26/07 180 1/22/08
Alternative Asset Management Acquisition AMV-U 8/1/07 180 1/28/08
Dolan Media DM 8/1/07 180 1/28/08
Genpact Limited G 8/1/07 180 1/28/08
Sucampo Pharmaceuticals SCMP 8/1/07 180 1/28/08
Concho Resources CXO 8/2/07 180 1/29/08
Virtusa VRTU 8/2/07 180 1/29/08
Quicksilver Gas Services LP KGS 8/6/07 180 2/2/08
E-House (China) Holdings EJ 8/7/07 180 2/3/08
HireRight HIRE 8/7/07 180 2/3/08
Masimo Corporation MASI 8/7/07 180 2/3/08
DemandTec DMAN 8/8/07 180 2/4/08
WuXi PharmaTech WX 8/8/07 180 2/4/08
MercadoLibre MELI 8/9/07 180 2/5/08
Paragon Shipping PRGN 8/9/07 180 2/5/08
VMware VMW 8/13/07 180 2/9/08
Encore Energy Partners ENP 9/11/07 180 3/9/08
athenahealth ATHN 9/19/07 180 3/17/08
Babcock & Brown Air LTD FLY 9/26/07 180 3/24/08
China Architectural Engineering RCH 9/27/07 180 3/25/08
Duff & Phelps DUF 9/27/07 180 3/25/08
Constant Contact CTCT 10/2/07 180 3/30/08
China Digital TV STV 10/4/07 180 4/1/08
MAP Pharmaceuticals MAPP 10/4/07 180 4/1/08
Compellent Technologies CML 10/9/07 180 4/6/08
Targanta Therapeutics TARG 10/9/07 180 4/6/08
Textainer Group Holdings TGH 10/9/07 180 4/6/08
Virgin Mobile USA VM 10/10/07 180 4/7/08
Rodman & Renshaw Capital RODM 10/15/07 180 4/12/08
TranS1 TSON 10/16/07 180 4/13/08
NRDC Acquisition NAQ 10/17/07 180 4/14/08
DuPont Fabros Technology DFT 10/18/07 180 4/15/08
Maxcom Telecommunications MXT 10/18/07 180 4/15/08
Noah Education Holdings NED 10/18/07 180 4/15/08
CVR Energy CVI 10/22/07 180 4/19/08
Fuqi International FUQI 10/22/07 180 4/19/08
Longtop Financial Technologies LFT 10/23/07 180 4/20/08
Vanguard Natural Resources VNR 10/23/07 180 4/20/08
FGX International Holdings FGXI 10/24/07 180 4/21/08
Pzena Investment Management PZN 10/24/07 180 4/21/08
Ulta Beauty ULTA 10/24/07 180 4/21/08
Power Medical Interventions PMII 10/25/07 180 4/22/08
Genoptix GXDX 10/29/07 180 4/26/08
012 Smile.Communications SMLC 10/30/07 180 4/27/08
CNinsure Inc. CISG 10/30/07 180 4/27/08
Deltek PROJ 10/31/07 180 4/28/08
Giant Interactive Group GA 10/31/07 180 4/28/08
Nanosphere NSPH 10/31/07 180 4/28/08
SoundBite Communications SDBT 10/31/07 180 4/28/08
Neutral Tandem TNDM 11/1/07 180 4/29/08
Cosan Limited CZZ 8/15/07 1095 8/14/10
IPO Quiet Period Dates
Upcoming IPO Quiet Period Dates
Company Name Symbol Offer Date Lead Underwriter Quiet Period Expires
Babcock & Brown Air LTD FLY 9/26/07 Morgan Stanley 11/5/07
China Architectural Engineering RCH 9/27/07 Westpark Capital 11/6/07
Duff & Phelps DUF 9/27/07 Goldman Sachs 11/6/07
Constant Contact CTCT 10/2/07 CIBC World Markets 11/11/07
China Digital TV STV 10/4/07 Morgan Stanley 11/13/07
MAP Pharmaceuticals MAPP 10/4/07 Merrill Lynch 11/13/07
Compellent Technologies CML 10/9/07 Morgan Stanley 11/18/07
Targanta Therapeutics TARG 10/9/07 Credit Suisse 11/18/07
Textainer Group Holdings TGH 10/9/07 Credit Suisse 11/18/07
Virgin Mobile USA VM 10/10/07 Lehman Brothers 11/19/07
Rodman & Renshaw Capital RODM 10/15/07 Sandler O'Neill 11/24/07
TranS1 TSON 10/16/07 Lehman Brothers 11/25/07
NRDC Acquisition NAQ 10/17/07 Banc of America 11/26/07
DuPont Fabros Technology DFT 10/18/07 Lehman Brothers 11/27/07
Maxcom Telecommunications MXT 10/18/07 Morgan Stanley 11/27/07
Noah Education Holdings NED 10/18/07 Deutsche Bank 11/27/07
CVR Energy CVI 10/22/07 Goldman Sachs 12/1/07
Fuqi International FUQI 10/22/07 Merriman Curhan Ford 12/1/07
Longtop Financial Technologies LFT 10/23/07 Goldman Sachs 12/2/07
Vanguard Natural Resources VNR 10/23/07 Citi 12/2/07
FGX International Holdings FGXI 10/24/07 William Blair 12/3/07
Pzena Investment Management PZN 10/24/07 Goldman Sachs 12/3/07
Ulta Beauty ULTA 10/24/07 J.P. Morgan 12/3/07
Power Medical Interventions PMII 10/25/07 Jefferies 12/4/07
Genoptix GXDX 10/29/07 Lehman Brothers 12/8/07
012 Smile.Communications SMLC 10/30/07 CIBC World Markets 12/9/07
CNinsure Inc. CISG 10/30/07 Morgan Stanley 12/9/07
Deltek PROJ 10/31/07 Credit Suisse 12/10/07
Giant Interactive Group GA 10/31/07 Merrill Lynch 12/10/07
Nanosphere NSPH 10/31/07 Credit Suisse 12/10/07
SoundBite Communications SDBT 10/31/07 Cowen & Company 12/10/07
Neutral Tandem TNDM 11/1/07 Morgan Stanley 12/11/07
Virtual Radiologic, a health instruments company, announces terms for its IPO
11/2/2007
A leading provider of remote diagnostic image interpretation services to hospitals, radiology practices and clinics, Virtual Radiologic, plans to offer 4 million shares at a price range of $16 to $18. Goldman Sachs is the lead manager on the deal
http://www.ipohome.com/marketwatch/iponews.asp
CreditCards.com announces terms for its IPO
11/2/2007
CreditCards.com, which enables consumers to search for, compare and apply for credit cards and offer credit card issuers an online channel to acquire qualified applicants, announced terms Friday. The company plans to sell 10.7 million shares, of which 2.3 million are being sold by insiders, at a price range of $13 to $15. Credit Suisse and Citi are the joint book runners on the deal.
http://www.ipohome.com/marketwatch/iponews.asp
Software company SuccessFactors announces IPO terms
11/2/2007
SuccessFactors, a leading provider of on-demand performance and talent management solutions software, plans to sell 10.8 million shares at a price range of $8 to $10. Of these 10.8 million shares, 790,000 are being sold by insiders. Morgan Stanley and Goldman Sachs are the joint lead managers on the deal.
http://www.ipohome.com/marketwatch/iponews.asp
Namemedia, online media and domain name business, files for an IPO
11/2/2007
A leading targeted on line media business and an on line marketplace for domain names, NAME MEDIA, submitted a filing Friday for its IPSO. The company has not yet decided on the number of shares or the price range of its offering. Credit Susie is the lead manager on the deal.
http://www.ipohome.com/marketwatch/iponews.asp
Utility storage solutions company 3Par announces terms for its IPO
11/2/2007
Provider of utility storage solutions for large to medium enterprises, business-oriented service providers, consumer-oriented Internet companies and government entities, 3PAR plans to sell 7.5 million shares at a price range of $11 to $13. Goldman Sachs and Credit Suisse are the lead underwriters on the deal.
http://www.ipohome.com/marketwatch/iponews.asp
IPO : research items on several upcoming
ie Approach, BioForm, EnergySolution, EnteroMedics, Symetra, Navios
Pipeline: alphabetical
http://www.iposcoop.com/index.php?option=com_jreviews&task=listcategory§ion=1&cat=14&dir=1&Itemid=122
Retail Roadshows: Approach, BioForm, EnergySolution, EnteroMedics, and Symetra Financial ; but none for Navios
http://www.retailroadshow.com/roadshows.asp
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FIDO IPO offers: (info on each is below the single line)
Approach Resources, Inc. ( AREX )
Shares (millions): 7.67
Price Range: $14.00 - $16.00
BioForm Medical ( BFRM )
Shares (millions):10.00
Price Range:$9.00 - $11.00
EnergySolutions, Inc. ( ES )
Shares (millions):30.00
Price Range:$19.00 - $21.00
EnteroMedics, Inc. ( ETRM )
Shares (millions): 5.0
Price Range: $14.00 - $16.00
Navios Maritime Partners L.P. ( NMM )
Shares (millions):10.00
Price Range:$ - $
Symetra Financial Corporation ( SYA )
Shares (millions):39.50
Price Range:$18.00 - $20.00
--------------------------------------------------------------------------------
Approach Resources, Inc.
Retail Roadshow:
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123jump : report
NONE
IPOscoop:
http://www.iposcoop.com/index.php?option=com_content&task=view&id=809&Itemid=122
We are an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties. Our principal operations are located in the Ozona Northeast field in West Texas, where we originally acquired approximately 28,000 gross (27,000 net) acres of leasehold interests in 2004 through a Farmout Agreement with the predecessors of Neo Canyon Exploration, L.P. Since that time, through a series of strategic leasehold acquisitions, we have increased our West Texas acreage to 66,500 gross (51,700 net) acres located in the Ozona Northeast field and our nearby Cinco Terry project. Our management team has extensive experience finding and exploiting unconventional reservoirs, particularly tight gas sands like Ozona Northeast, by applying advanced completion, fracturing and drilling techniques. Substantially all of our growth has been through our own drilling efforts. Since 2004, we have added approximately 149 Bcfe of proved gas and oil reserves from unconventional reservoir formations.
BioForm Medical
Retail Roadshow:
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123jump : report
http://www.123jump.com/ipo/ipo_view/BFRM/BioForm+Medical
IPOscoop:
http://www.iposcoop.com/index.php?option=com_content&task=view&id=945&Itemid=122
We are a medical aesthetics company focused on developing and commercializing products that are used by physicians to enhance a patient’s appearance. Our core product is Radiesse, an injectable dermal filler designed to provide long-lasting, cost-effective and safe aesthetic improvements for patients. Our clinical studies have demonstrated that Radiesse provides meaningful initial aesthetic correction and approximately 12 months’ duration of aesthetic improvement in many patients, resulting in high patient satisfaction with Radiesse treatment.
EnergySolutions, Inc.
Retail Roadshow:
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123jump : report
http://www.123jump.com/ipo/ipo_view/ES/EnergySolutions
IPOscoop
http://www.iposcoop.com/index.php?option=com_content&task=view&id=978&Itemid=122
We are a leading provider of specialized, technology-based nuclear services to government and commercial customers. Our customers rely on our expertise to address their needs throughout the lifecycle of their nuclear operations. Our broad range of nuclear services includes engineering, operation of nuclear reactors, in-plant support services, spent nuclear fuel management, D&D, logistics, transportation, processing and disposal. We also own and operate strategic facilities that complement our services and uniquely position us to provide a single-source solution to our customers.
EnteroMedics, Inc.
Retail Roadshow:
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123jump : report
http://www.123jump.com/ipo/ipo_view/ETRM/EnteroMedics+Inc.
IPOscoop
http://www.iposcoop.com/index.php?option=com_content&task=view&id=951&Itemid=122
We are a development stage medical device company focused on the design and development of devices that use neuroblocking technology to treat obesity and other gastrointestinal disorders. Our proprietary neuroblocking technology, which we refer to as VBLOC therapy, is designed to intermittently block the vagus nerve using high-frequency, low-energy, electrical impulses. The vagus nerve controls much of the activity of the stomach, intestines and pancreas and plays a role in food processing. Our initial product under development is the Maestro System, which uses VBLOC therapy to limit the expansion of the stomach, reduce the frequency and intensity of stomach contractions and produce a feeling of early and prolonged fullness.
Navios Maritime Partners L.P.
Retail Roadshow:
NONE
123jump : report
NONE
IPOscoop:
http://www.iposcoop.com/index.php?option=com_content&task=view&id=1017&Itemid=122
We are an international owner and operator of drybulk carriers newly formed by Navios Maritime Holdings Inc. (NYSE: NM), a vertically integrated seaborne shipping company with over 50 years of operating history in the drybulk shipping industry. Our vessels are chartered out under long-term time charters with an average remaining term of approximately 5.2 years to a strong group of counterparties consisting of Cargill International SA, COSCO Bulk Carrier Co., Ltd., Mitsui O.S.K. Lines, Ltd., Rio Tinto Shipping Pty Ltd., Augustea Atlantica SrL Charterers, The Sanko Steamship Co., Ltd. and Daiichi Chuo Kisen Kaisha.
Symetra Financial Corporation
Retail Roadshow:
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123jump: report
http://www.123jump.com/ipo/ipo_view/SYA/Symetra+Financial
IPOscoop:
http://www.iposcoop.com/index.php?option=com_content&task=view&id=932&Itemid=122
We are a life insurance company focused on profitable growth in select group health, retirement, life insurance and employee benefits markets. Our first day of operations as an independent company was August 2, 2004 when Symetra acquired a group of life insurance and investment companies from Safeco Corporation (the “Acquisition”). Our operations date back to 1957, and many of our agency and distribution relationships have been in place for decades. We are headquartered in Bellevue, Washington and employ over 1,300 people in 25 offices across the United States, serving over two million customers.
Nov IPOs: Upcoming (some are Day-to-Day)
AAAA, AMCN, APEI, AREX, ARYX, BFRM, BHRT, CROS, CYS, ENSG, ES, EST, ETRM, EYT, GRO, ICXT, INET, LIA-U, LL, MERR, MXB, NMM, NPD, OSP, OZM, RLNT, SCPE, SD, SYA, TNDM
http://finance.yahoo.com/q/cq?d=v1&s=AAAA%2c+AMCN%2c+APEI%2c+AREX%2c+ARYX%2c+BFRM%2c+BHRT%2c+CROS%2c+CYS%2c+ENSG%2c+ES%2c+EST%2c+ETRM%2c+EYT%2c+GRO%2c+ICXT%2c+INET%2c+LIA-U%2c+LL%2c+MERR%2c+MXB%2c+NMM%2c+NPD%2c+OSP%2c+OZM%2c+RLNT%2c+SCPE%2c+SD%2c+SYA%2c+TNDM
IPO Buzz: Chasing Alibaba.com
...U.S. IPO market plans to set off a few Chinese fireworks..
http://www.iposcoop.com/index.php?option=com_content&task=view&id=1021&Itemid=30
Starts off:
..."From the streets of Hong Kong to America’s financial TV Land, last week’s buzz was about the Alibaba.com $1.5 billion IPO. Like many hot issues, millions were shut out from getting a piece of China’s huge, hot IPO, including Americans. The later was not a case of: “Yankee! Go home.” It was the Securities Act of 1933 that got in the way.
The Alibaba.com offering was not registered with the U.S. Securities and Exchange Commission.
It is rather straightforward -- there is a provision in the ‘33 Act that might make it illegal to offer unregistered stock to U.S. investors.
But there’s more."...
NEW YORK, Oct 31 (Reuters) - The soaring debut of CNinsure (CISG.O: Quote, Profile, Research), a Chinese insurance agency and brokerage, on Wednesday made it the third best first-day performer among Chinese initial public offerings on U.S. stock exchanges so far this year.
American Depositary Shares of CNinsure Inc closed up 58 percent at $25.29, a day after an initial public offering priced above expectations, raising $188 million.
On Tuesday, CNinsure's offering of 11.8 million ADS priced at $16 per share, compared with a forecast range of $13 to $15, which was raised from a range of $11 to $13 a share.
Each ADS represents 20 ordinary shares. Underwriters were led by Morgan Stanley (MS.N: Quote, Profile, Research).
CNinsure, an independent agency which has been in business since 1999, has about 11,0000 sales professionals in outlets operating from eight of China's 22 provinces.
Chief Financial Officer David Tang told Reuters the company plans to expand its network to more parts of the country, including through acquisitions, but did not specify what rate of growth it expects to achieve.
"I could not give you a roadmap, definitely we are looking to expand," he said, adding he believes that, by revenue, CNinsure is the largest domestic insurance agency in China.
From 2000 to 2005, the Chinese insurance market grew by more than 200 percent
CISG :
After Hours: 26.40 +1.11 (4.39%)
Last Trade: 25.29
Trade Time: 4:00PM ET
Change: +9.29 (58.06%)
Open: 25.00
Bid: 26.25 x 1000
Ask: 26.40 x 1700
Day's Range: 24.03 - 28.74
Volume: 10,241,988
If CISG does half as well as LFC has done it will be a fine investment
CISG ipo is open
Yahoo Down With Alibaba.com IPO
Monday October 29, 3:24 pm ET
By Rachel Metz, AP Business Writer
Analysts Attribute Yahoo Decline to Reaction to Alibaba.com IPO, Profit Taking
NEW YORK (AP) -- Yahoo Inc. shares fell Monday, in part on what some analysts called a negative reaction to the IPO of a Chinese company in which it holds a stake. The Sunnyvale, Calif.-based company's shares declined $1.80, or 5.4 percent, to $31.83 in afternoon trading.
Chinese e-commerce portal Alibaba.com Ltd. raised $1.5 billion in its initial public offering, Thomas Weisel Partners analyst Christa Quarles wrote in a Monday client note. Quarles said the shares priced Monday at HK $13.50, and 858.9 million of them were sold. The shares will start trading on the Hong Kong stock market on Nov. 6.
Yahoo has a 39 percent stake in Alibaba.com's parent, Alibaba Group, and has agreed to buy about $100 million worth of the shares. Quarles said investors might have been anticipating a better IPO. "Yahoo share(s) have been up nearly $4 since the Alibaba 'trade' has been in play, sugesting an approximately $20 billion valuation of Alibaba," she wrote.
Yet the analyst is modeling Alibaba to be valued at about $8.8 billion, based on its initial public offering. "We understand that Chinese market valuations are magnitudes higher than their U.S. counterparts, however, we believe the exuberance in this instance seems to be overdone as it relates to Yahoo's shares," she wrote.
In a phone interview Monday, William Blair & Co. analyst Troy Mastin said the impending Alibaba.com IPO helped drive up Yahoo's stock price in the last few weeks. "Now that the IPO has been completed, that can no longer act as a real source of optimism because now there's hard numbers attached to what (Alibaba.com is) worth. Before, there was speculation on how it was going to play out," he said.
Not everyone agreed that Yahoo was down on a reaction to Alibaba, though. In an interview Monday, Jackson Securities analyst Brian Bolan attributed Monday's share decline partly to profit taking. "I think the stock is fairly ahead of itself right now, just on a valuation perspective," he said.
Bolan also suggested that mutual fund managers may be selling off the stock, as they want to show they've held Yahoo shares through the month but are now unloading them since the price is declining.
Thursday and Friday were big mutual fund buying days for the month, and Monday's decline could reflect unwinding of some of these positions, he said.
China's Alibaba Unveils Its IPO
Shares of the e-commerce company partly owned by Yahoo! will begin trading on Nov. 6 in an offering to be co-managed by Goldman Sachs and Morgan Stanley
by Bruce Einhorn
It's the initial public offering that everyone following the Chinese Internet has been anticipating: the listing of Alibaba.com, the business-to-business e-commerce company partly owned by Yahoo! (YHOO). On Oct. 22, company founder and chief executive officer Jack Ma spoke to reporters in Hong Kong via video conference to reveal details of the deal. The company expects to raise about $1.5 billion in an IPO to be co-managed by Goldman Sachs (GS) and Morgan Stanley (MS). Trading will begin in Hong Kong on Nov. 6.
The Alibaba listing is not just a key event for the company; It also promises to be watershed moment for the Chinese online world. With more than 160 million people using the Internet now, China has the world's second-largest Net population after the U.S. But while a few Nasdaq-listed Chinese dot-coms such as search engine Baidu (BIDU) and portal Sina (SINA) have done well by selling keywords or banner advertising, until now there hasn't been a Chinese e-commerce company that's generated much interest among investors.
However, the obstacles hindering the growth of e-commerce in China are starting to become less serious. For years, companies hoping to sell goods online have had to struggle to find ways for Chinese would-be buyers to make payments, since credit cards were not popular among ordinary consumers. That's changing, as credit-card usage increases. Just as important, companies and banks are coming up with other ways to facilitate online payments through services such as Alipay, a PayPal-like offering of Alibaba.
Online Shopping In Its Early Days
"The whole ecosystem is improving," says Liu Bin, an analyst with Beijing-based consulting firm BDA China. There are "nearly 50 third-party payment companies" in China now, he adds. "The e-commerce business in China is just in its early stages," says Liu. "In the future, young users will change their consumption habits, and more people will accept ecommerce."
Online shopping may be down the road, but investor interest in other types of Chinese Internet stocks is already here. Baidu's stock, even after a recent sharp drop following news about a temporary suspension of Internet data centers for technical reasons, is still up 180% so far this year. Sina's is up 80% and its biggest local rival, Sohu (SOHU), has risen 69%. Another hot category: companies that cater to China's eager online gaming fans. The Nasdaq-listed shares of Shanda Interactive (SNDA), China's top gaming company, are up 70% this year. Sales in the second quarter rose 39%, to $75 million, with earnings of $55 million rising more than 200% over the year-earlier period.
Not all Chinese gaming companies are hot. Shanda rivals Netease (NTES) and The9 (NCTY) have seen their share prices languish even as Shanda's has soared, but that's not stopping a new crop of rivals from going public. For instance, Perfect World (PWRD), a Beijing company that specializes in developing and operating online games, started Nasdaq trading on July 26 at $16 a share.
Betting on an Olympics Boom
The IPO raised $189 million for Perfect World and by Oct. 11, the stock price had more than doubled, to $34. It's now trading at $27. On Oct. 9, another online gaming company, Kingsoft had a Hong Kong IPO and saw shares increase 39% on its debut. And on Oct. 18, another gaming company, Giant Interactive Group, revealed in a filing with the Securities & Exchange Commission that it plans to raise as much as $800 million in a New York Stock Exchange listing.
There's also a renewed interest in some of the first-generation portals that were among the first Chinese Internet companies to go public on Nasdaq during the days of the U.S. internet bubble. The share prices of top Chinese portals Sohu and Sina are up sharply this year amid confidence that online advertising will increase ahead of Beijing's hosting of the Summer Olympics next year. Morgan Stanley (MS) predicts that China's online advertising market will total $2.4 billion in 2008, an increase of about 45% year over year.
Smaller companies that haven't yet gone public are getting some of that money, too. Joe Chen is CEO of Oak Pacific Interactive, a Beijing holding company that controls some of China's most popular Web 2.0 sites, including a Facebook-like service called Xiaonei. He boasts that advertising revenue for Oak Pacific in the third quarter doubled compared to the same period in 2006. "On an annualized basis we are doing $15 million," he says. "Olympics-related budgets have started to kick in."
Building Up the Brand
The good news for executives like Chen is that the Chinese online advertising market is likely to remain strong even after the Olympic torch is extinguished. That's thanks in part to the interest among many Chinese companies in building brand awareness (BusinessWeek, 10/8/07) among local consumers. "More and more Chinese companies are saying 'We want to make a major initiative to build up our brand,'" says Richard Ji, an Internet analyst in Hong Kong with Morgan Stanley. "In previous years they tended to compete against each other on price." While Ji says that the "big catalyst" for online companies now is the Olympics, the interest in brand-building means that "there is going to be a secular up-trend" in online advertising.
http://www.businessweek.com/globalbiz/content/oct2007/gb20071022_827643.htm?campaign_id=yhoo
In general how do IPO's perform. Are they usually underpriced or overpriced ??
FUQI is open
IPOs Recent & Upcoming: OCT
(includes blank check acquisition companies and holdovers)
http://www.ipohome.com/marketwatch/ondeck.asp
and
http://www.gaskinsco.com/
List:
AAAA, AKLA, ATHN, BHRT, CISG, CML, CROS, CTCT, CVI, CYS, DFT, DUF, ENP, EYT, FGXI, FLY, FUQI, GA, GXDX, LFT, LIA-U, MAPP, MERR, MXT, NAQ-U, NED, NSPH, OOO-U, PMII, PROJ, PZN, RODM, SDBT, SMLC, SRG-U, STV, TARG, TCW-U, TGH, TNDM, TSON, ULTA, VM, VNBK, VNR, ZARS
Related quotes: (if trading)
http://finance.yahoo.com/q/cq?d=v1&s=AAAA%2c+AKLA%2c+ATHN%2c+BHRT%2c+CISG%2c+CML%2c+CROS%2c+CTCT...
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ipoScoop's "The IPO Buzz: Nice Numbers" (Among the 72 winners, some were huge)
http://www.iposcoop.com/index.php?option=com_content&task=view&id=922&Itemid=30
...Since April 20, IPO buyers have made out much better than the underlying stock market. Consider this: Over that time span, 101 companies have gone public, according to U.S. Securities and Exchange Commission filings. As of Friday, Oct. 12, 72 closed above their initial offering prices, 29 did not, and the average gain for all 101 was 37.8 percent....
123jump's IPO articles:
http://www.123jump.com/ipo/
24-7 WallSt: IPO articles/blogs
http://www.247wallst.com/ipos/index.html
SeekingAlpha: IPO articles/blogs
http://seekingalpha.com/tag/ipo-analysis
10/20/07: WSJ On-line IPO article
four stocks failed to price: Bioheart, EyeTel Imaging, SoundBite Communications, and Cypress Sharpridge Investments
http://online.wsj.com/article/SB119284299524265705.html?mod=googlenews_wsj
Noah Education Holdings Ltd. Announces Pricing of Initial Public Offering on NYSE
PR Newswire - October 18, 2007 10:21 PM ET
Related Quotes
Symbol Last Chg
NED Trade 0.00 0.00
Real time quote.
Noah Education Holdings Ltd. ("Noah"), a leading provider of interactive education content in China, announced today that its initial public offering of 9,847,129 American Depositary Shares ("ADSs"), each representing one ordinary share of the company, was priced at an initial public offering price of $14.00 per ADS. The ADSs will begin trading on the New York Stock Exchange on October 19, 2007 under the symbol "NED."
Of the 9,847,129 ADSs sold in the offering, 8,725,572 ADSs were sold by Noah, and 1,121,557 ADSs were sold by a selling shareholder. Noah has granted the underwriters a 30-day option to purchase up to 1,477,069 additional ADSs to cover over-allotments.
Deutsche Bank Securities Inc. acted as book runner, CIBC World Markets Corp. and Thomas Weisel Partners LLC acted as co-lead managers, and First Shanghai Securities acted as co-manager for the offering.
Noah's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc. by mail, Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, by telephone at (800)-503-4611 or by email: prospectusrequest@list.db.com.
About Noah
Noah Education Holdings Limited (NYSE: NED) ("Noah") is a leading provider of interactive education content in China. Noah develops and markets interactive multimedia learning materials mainly to complement prescribed textbooks used in China's primary and secondary school curricula. Noah delivers content primarily through handheld digital learning devices, or DLDs. In 2007, Noah opened its first after-school tutoring center in Chengdu, China as part of its strategy to become China's leading brand in supplemental education content and service. For more information about Noah, please visit http://www.noahtech.com.cn .
Actually, that's a very good question. We have the option to purchase ADR (ADS) IPO's here- in fact, this board has covered a few of them.
However, I think your question would be better directed to your full service broker.
with the amount of volatility in any IPO- I prefer to
at least stay on the markets that I'm most familiar with.
ot: Knees posted his farewell recently. We all miss him dearly.
Posted by: badknees29
In reply to: None Date:9/21/2007 8:44:09 AM
Post #of 1251
Farewell ihub board!!!...I'm saying goodbye to those that may care and those that don't as i leave the ihub community for good. i've enjoyed the debates,conversations, and relationships along the last couple years. If those who wish to stay in contact with me please pm me and ill shoot you my email.
thanks and hope you all get disgustingly wealthy or wealthier
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23051294
What about overseas IPOs ? How can we invest in these exchanges ?
This one is huge ... http://www.cnn.com/video/#/video/us/2007/10/12/road.rage.death.cnn?iref=mpvideosview
http://www.globalvoicesonline.org/2007/10/08/kenyan-bloggers-on-safaricom-mystery/
Morgan Stanley is handling the IPO Listing, likely on the Nairobi Echange
http://www.ft.com/cms/s/0/098e8004-74ff-11dc-892d-0000779fd2ac.html
Safaricom clears obstacle to a record IPO
By Barney Jopson in Nairobi
Published: October 7 2007 21:58 | Last updated: October 7 2007 21:58
Safaricom, Kenya’s biggest mobile operator, has moved a step closer to launching one of the biggest flotations in Africa after the government saw off a legal challenge from an opposition party seeking to scupper the initial public offering ahead of a presidential election.
The government intends to sell 25 per cent of the company, already part-owned by Vodafone, in an offering on Nairobi’s stock exchange forecast to raise KSh30bn-40bn ($450m-$600m).
But the opposition lawsuit, which was thrown out by the courts last week, has caused delays that are likely to scotch the government’s hopes of generating goodwill among retail investors by orchestrating a successful IPO before a December poll.
Michael Joseph, Safaricom’s chief executive, told the Financial Times: “I can’t see us listing this year. We’ll start the process, but it’s difficult to physically get it done in the time remaining.”
It should, however, be possible to open the share sale to the public before the year’s end, he said.
Interest in the stock market has burgeoned among ordinary Kenyans during the past 18 months and they have become accustomed to surges in the share prices of new stocks in first days of trading.
Safaricom has selected Morgan Stanley as joint adviser for the transaction; a reflection of the interest the flotation is also expected to attract from overseas investors. Several new Africa-focused investment funds have been set up in London and New York this year and telecommunications is regarded as one of the continent’s most promising sectors.
The company will set a record as east Africa’s biggest IPO. If valued at the top end of broker forecasts, it will be the biggest listing south of the Sahara this year outside South Africa.
The government currently owns 60 per cent of Safaricom and Vodafone has a 35 per cent stake, which it bought in 2000 and expects to retain but not to increase after the flotation. The remaining 5 per cent is held by Mobitelea Ventures, a Guernsey-based group whose ownership is a closely guarded secret.
Vodafone relies on emerging markets to offset the slowing growth in its core European business and it is keen to expand in Africa.
Safaricom has nearly 8m subscribers and claims a market share of about 70 per cent versus its lone rival Celtel, although independently verified figures are not available. It reported a pre-tax profit of KSh17bn for the year to March – the largest in Kenyan corporate history.
Its dominance is soon likely to come under threat, however, from Telkom, the state telecommunications monopoly, and from Econet Wireless. Both companies have now been awarded mobile licences.
But the opposition Orange Democratic Movement claimed the government had not followed proper procedures to prepare for the share sale.
The claim was rejected by the High Court but ODM can still appeal.
Legal uncertainty about Safaricom’s IPO led to Kenya’s NSE 20 index falling more than 7 per cent during the past month as the US stock market rallied.
Additional reporting by Andrew Parker in London
Copyright The Financial Times Limited 2007
Hey Bridge --- how are you ?
Have you heard anything from "knees" lately ??
Noticed no posts from him in quite awhile and
we had been doing PM stuff back/forth nearly
every morning. Hope everything is OK w/ him!?!??!
thx.
EZ
Another old IPO that might be worth re looking at is GSIT
Looks like it ipo'd in Mar o7?
Looks to have found a bottom?
IPO Calendar - All Upcoming IPOs
All IPOs On Deck
Company Name
Symbol Underwriter Price Range
Shares Trade Date
Eyetel Imaging*
EYT Stanford Group Company
Maxim Group LLC $7.00-$8.00
3.5 mil Day-to-day
DuPont Fabros Technology
DFT Lehman Brothers
UBS Investment Bank $19.00-$21.00
30.5 mil Week of 10/15
Maxcom Telecommunications
MXT Morgan Stanley $15.50-$17.50
12.1 mil Week of 10/15
Noah Education Holdings
NED Deutsche Bank
CIBC World Markets $9.80-$11.80
9.8 mil Week of 10/15
Rodman & Renshaw Capital
RODM Sandler O'Neill
Rodman & Renshaw $5.00-$7.00
8.0 mil Week of 10/15
SoundBite Communications
SDBT Cowen & Company
Thomas Weisel $12.00-$14.00
6.0 mil Week of 10/15
TranS1
TSON Lehman Brothers
Piper Jaffray $12.00-$14.00
5.5 mil Week of 10/15
Cypress Sharpridge Investments
CYS Bear Stearns
Friedman Billings $7.00-$8.00
18.0 mil Week of 10/18
BioHeart*
BHRT Merriman Curhan Ford
Dawson James $14.00-$16.00
3.6 mil Week of 10/22
CVR Energy
CVI Goldman Sachs
Deutsche Bank $18.00-$20.00
18.5 mil Week of 10/22
FGX International Holdings
FGXI William Blair
Suntrust Robinson $14.00-$16.00
8.3 mil Week of 10/22
Fuqi International
FUQI Merriman Curhan Ford
Brean Murray $7.00-$9.00
6.4 mil Week of 10/22
Longtop Financial Technologies
LFT Goldman Sachs
Deutsche Bank $12.00-$14.00
10.4 mil Week of 10/22
Merrion Pharmaceuticals*
MERR Punk Ziegel
Goodbody $10.00-$12.00
4.0 mil Week of 10/22
Power Medical Interventions
PMII Jefferies
Lazard $12.00-$14.00
3.9 mil Week of 10/22
Pzena Investment Management
PZN Goldman Sachs
UBS Investment Bank $16.00-$18.00
6.1 mil Week of 10/22
Vanguard Natural Resources, LLC*
VNR Citi
Lehman Brothers $22.00-$24.00
5.0 mil Week of 10/29
TGH ipo is open
Compellent extends tech IPO streak of success
Tue Oct 9, 2007 9:41pm EDT
NEW YORK, Oct 9 (Reuters) - An initial public offering from Compellent Technologies Inc (CML.N: Quote, Profile, Research), a maker of computer storage systems, priced higher than expected on Tuesday, raising $81 million, as investors continue to pile into a new offerings from technology companies.
But two other IPOs fell short of hopes on Tuesday and the biggest on the schedule -- Affinion Group Holdings, sponsored by private equity giant Apollo Management LP -- failed to price at all when it was postponed for at least a day.
Compellent's IPO had created buzz among investors largely for its revenue growth, which more than doubled from 2005 to nearly $20 million in 2006 at the same time as its net losses narrowed. It fetched a price of $13.50 per share, compared with a forecast range of $10 to $12.
Some of the year's hottest IPOs have been from the technology sector, including 2007's best first-day performers, Athenahealth (ATHN.O: Quote, Profile, Research), China Digital TV (STV.N: Quote, Profile, Research) and VMWare (VMW.N: Quote, Profile, Research), gaining 75 percent or more in their market debuts.
Compellent's offering was multiple times oversubscribed to both retail and institutional buyers, said Scott Sweet, managing director of IPOboutique.com, who had expected the IPO to price high.
At its $13.50 share price, Compellent has an initial market capitalization exceeding $400 million.
Compellent proved the one bright spot on Tuesday's IPO calendar, with initial offerings from Targanta Therapeutics (TARG.O: Quote, Profile, Research) and Textainer Group Holdings Ltd (TGH.N: Quote, Profile, Research) selling their shares at a steep discount to expectations.
STV $43+ afterhours
Lady B...
very interesting move on LLNW today. Any one know why?
it is too quick to tell at this point, imho. I'll look after it trades for about 5 more days since I haven't looked into it much prior to it's open.
Hi East,
In a nutshell, I can give you this link for the past 12 months of review and performance of the IPO's. I'll look thru the list later today or tomorrow afternoon and see if we can find some gems.
-Bridge
http://www.ipohome.com/marketwatch/year.asp
Lady B...
In browsing thru yahoos ipo performers and losers, I'm wondering if any one has gone back and looked at the losers to see if there is a possible buying opportunity?
So often these IPO's blaze forward and then come down hard.Or some just fall and look a lot more reasonable?
Any good IPOS with serious corrections we should be looking at?
From that yhoo performer list of losers I show 55 funds in BBND, 43 funds in LLNW, and 17 funds in RRR
OWW shows insider buying, same with LLNW, and RRR?
J
STV is poised to move!!!
do you think STV is going to skyrocket? it has great potential
I was happy when BX pulled back. Nice low average and I'm green- phhhhhhhhew!:
opened too high above price for my liking... i want another R C H lol... it was such a diamond in the rough... i sold way too early
i'm showing STV range from 29+ to 39+ so far/ current 32.87
Thank you and welcome aboard :)
Since Badknees has said goodbye's- Anyone please PM me to help out with the board.
There hasn't been a single TOU violation on this board. We're peaceful here. More/less anybody who can help keep the ibox updated and help field some q and a now and again.
I'd really appreciate it. Thank you.
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