12 companies ready for IPO debut this week

May is already off to a good start in the IPO market.  Last week alone five companies priced (check out their performance on Hoover’s IPO Central), and another dozen are scheduled to go public this week. With Facebook reportedly beginning its IPO road show today, Zuckerberg and Co. will dominate the news, so let’s take a look at the 12 companies looking to beat the rush:

 

  • Fabless mobile semiconductor maker Audience plans to raise $79 million by offering 5.3 million shares priced between $14 and $16 per share. The company, which counts Apple’s contract manufacturer Foxconn as its largest customer, saw sales more than double in 2011 (from $47 million to $97 million).
  • Payday lender Community Choice Financial plans to raise $149 million (down from the $230 million it initially sought in August) by offering 10.7 million shares priced between $10 and $12 per share. The company has more than 430 stores in 14 states. It booked sales of $306 million (an increase of 37%) but saw profits drop 46% in 2011.
  • Customers Bancorp, the holding company for Customers Bank, is a small chain with 14 locations in Pennsylvania, New York, and New Jersey. Customers Bancorp plans to raise $100 million (down from the $115 million it initially sought in March) by selling 7.1 million shares priced between $13 and $13 per share. Customers suffered both a drop in sales and profits in 2011.
  • UK-based semiconductor equipment maker Edwards Group is seeking $150 million by selling 12.5 million shares priced between $11 and $13 per share. A manufacturer with mostly Asian operations, Edwards Group’s sales topped the $1 billion in 2011. The company planned to list on the London Stock Exchange in 2011 but withdrew amid the eurozone crisis.
  • Joe’s Crab Shack owner Ignite Restaurant Group is seeking to raise $75 million (down from the $100 million it initially sought in July) by offering 5.8 million shares priced between $12 and $14 per share. In addition to the 115 Joe’s Crab Shack locations, the company also has about 15 gastropubs under the Brick House Tavern + Tap banner. Both restaurants took in more than $400 million last year.
  • LINC Logistics, which provides supply chain and freight transportation services to the auto industry, is seeking to raise $170 million by offering 11.3 million shares priced between $14 and $16 per share. This company originally filed back in June 2010 seeking $115 million.
  • Chinese direct marketer Loyalty Alliance Enterprise plans to raise $66.3 million (down from the $75 million it initially sought in July) by offering 5.1 million shares priced between $12 and $14 per share. The company, which earned $31 million last year, finally recorded a substantial profit of $8.5 million for the first time as well.
  • New Source Energy, an oil & gas company exploring Oklahoma, plans to raise $100 million by offering 9.1 million shares priced between $10 and $12 per share. The company, which booked revenues of almost $50 million in 2011 (mostly from sales of natural gas liquids), recorded a net loss for the year after paying $10 million in income tax.
  • Rib-X Pharmaceuticals plans to raise $75 million by offering 5.8 million shares priced between $12 and $14 per share. The company’s drug candidates are new antibiotics to treat drug-resistant infections, and its founders were awarded the Nobel Prize in Chemistry for the science behind its drug candidates. Revenues are negligible since its medications are still in development, but it does boast a blue chip investor base.
  • TIM w.e. plans to raise $75 million (down from the $181 million it initially sought in July) by offering 13.7 million shares priced between $5 and $6 per share. The company offers a software-based technology platform that allows cell phone companies to offer multimedia content (music, games, videos, etc.) While it is headquartered in Portugal, the company does most of its business in Latin America. TIM w.e. has enjoyed steady growth in both sales and profits for the past four years.
  • WageWorks, which offers software for employers to manage flexible spending accounts, plans to raise $71 million by offering 6.5 million shares priced between $10 and $12 per share. The company booked sales of $135 million in 2011 (an 18% growth rate) and finally became profitable that year.
  • Mortgage REIT Western Asset Mortgage Capital originally filed in June 2009 seeking $500 million. The company, an affiliate of Legg Mason, has since amended its IPO to $160 million by offering 8 million shares for $20 a pop.
Tracey Panek

Tracey Panek retired from journalism at the ripe old age of 29 to work for Hoover's, where she enjoys writing about international and publicly traded companies.

Read more articles by Tracey Panek.

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