Skype SA, the Internet calling service that was controlled until last year by eBay Inc., filed Monday for a U.S. initial public offering. Luxembourg-based Skype tentatively put the value of the offering at $100 million, but that’s a rough estimate only used as a basis for the filing fee for the Securities and Exchange Commission. Skype did not say when its shares would go on sale, or at what price. It expects to list on the Nasdaq Stock Market under an unspecified symbol.
Filed under: IPOs
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Horizon Pharma files to sell up to $86.3M in IPO
Biopharmaceutical company Horizon Pharma Inc. plans to sell up to an estimated $86.3 million in an initial public offering. The shares are expected to trade on the Nasdaq Global Market under the symbol HZNP. Get the full story »
GM plans IPO for week of Aug. 16
General Motors Co. plans to file its registration for an initial public offering during the week of Aug. 16, just after the expected date for its second quarter results, according to two people with direct knowledge of the preparations.
A GM filing with the U.S. Securities and Exchange Commission would be the first step toward an IPO to reduce the U.S. government’s ownership in the automaker after a $50 billion bailout in 2009. Get the full story »
Groupon founder: Company not considering IPO
From Bloomberg | In an interview with Bloomberg TV, Andrew Mason, chief executive officer of Groupon Inc., discussed his company’s business strategy and the prospects for an initial public offering, as well as possible partnerships with media companies — “something where they can maybe replace one of their traditional boring display ads [on the web] with a Groupon that’s relevant to their users.”
KKR to be listed on NYSE next week; IPO soon
KKR & Co. said Tuesday that it will begin trading on the New York Stock Exchange on July 15 and revealed the multi-million-dollar paychecks its famous founders took home last year.
The private-equity firm, which will trade under the symbol KKR, is switching listing venues from NYSE Euronext Amsterdam. European shareholders’ stakes will be converted into NYSE-listed common units. A separate stock offering also is planned at some point after the listing, but it is unlikely to take place on the same date unless market conditions improve. Get the full story »
Source: GM plans to file IPO in mid-August
General Motors Co. plans to file its initial public offering in mid-August, a source familiar with the situation said Friday.
General Motors is also in talks with banks for a revolving line of credit worth $5 billion. Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley each have agreed to provide $500 million worth of credit. Get the full story »
Tesla IPO gets unexpected charge
Shares of Tesla Motors Inc. climbed in their trading debut after the electric car maker’s expanded initial public offering raised more money than expected.
Tesla’s performance was a feat in a sour market that has forced many companies looking to raise funds through IPOs to accept lower prices to get deals done. Get the full story »
Rubicon secondary offering priced at $30 a share
By Michael Oneal | Rubicon
Technology Inc., a Franklin Park materials science company that went
public in 2007, priced a secondary offering of 2.6 million shares of
common stock at $30 per share. The company will sell 1.8 million shares, while selling shareholders
will unload 834,000 shares. Rubicon hopes to raise $50.2 million, or
$61.5 million if it sees an opportunity to exercise an over-allotment
option.
CBOE’s IPO success may encourage others
The CBOE kicked off its first day as a publicly traded company on the NASDAQ with a remote bell-ringing ceremony from the CBOE trading floor in Chicago. (AP Photo/Chicago Board Options Exchange, David Banks)
Associated Press | Shares of CBOE Holdings Inc., the last major U.S. exchange to go public, jumped in their trading debut, logging a double-digit first-day gain.
In the current market, wherein numerous initial public offerings have been postponed or canceled, CBOE was a success. Volatile stock markets and a tentative economic recovery have made investors wary of riskier investments. Half the companies that have gone public this year have priced below expectations, the highest proportion since at least 1999.
Morgan Stanley, JPM may get GM IPO lead role
Reuters | Morgan Stanley and JPMorgan Chase & Co are likely to be
the lead underwriters in a General Motors initial public offering, The
Wall Street Journal reported on Friday, a role that may bring the banks
glory, but not much in fees.
The underwriting banks are expected to get less than 1 percent of the
deal in fees, the Journal reported, citing an unnamed source. A typical
fee for an IPO is 7 percent, but in recent years some larger deals have
carried lower fees.
CBOE seatholders seek 166% premium in IPO
From Bloomberg News | CBOE Holdings Inc.’s initial public offering next week of $27 to $29 per share would almost triple the value of members’ stake, compared to seat values, in the largest options exchange. The $339 million IPO may give its owners a 166 percent profit as they sell stock at a higher value.
Get the full story: businessweek.com
2 CBOE seats sell for $2.4M each
Dow Jones Newswires | Two seats on the member-owned Chicago
Board Options Exchange were sold Thursday for $2.4 million each, ahead
of the planned initial public offering of its parent on June 15. The
seats trade on the open market and carry trading rights, with the
previous transaction on June 9 priced at $2.3 million.
The books on the planned flotation of CBOE Holdings Inc. on the Nasdaq Stock Market are due to close June 11.
Zipcar files for $75 million IPO
(Terrence Antonio James/Chicago Tribune)
Reuters | Zipcar Inc., a car-sharing service popular among college students
and city dwellers, filed for an initial public offering worth as much
as $75 million.
The company, founded nearly a decade ago, is a leader in so-called
car-sharing, a service that charges an annual membership and rents cars
at an hourly or daily rate. The service is successful in markets in
which car ownership is lower and parking is scarce and expensive, such
as urban areas and colleges.
Toys R Us eyes $800M IPO, though details scant
A child looks at toys at a Toys R Us in Texas on Oct. 7, 2009. (Joyce Marshall/Fort Worth Star-Telegram/MCT)
Reuters | Toys R Us filed to raise as much as $800 million in an initial public offering in what could mark its return to the public markets after five years. But investors’ appetite for Toys R Us, which was taken private in 2005 by Kohlberg Kravis Roberts & Co Bain Capital, and shopping center operator Vornado Realty Trust in a $6.6 billion deal, will depend on how much of the money raised will go to its current owners and how much will go to fund growth.
Those three companies collectively own 98.2 percent of Toys R Us, but
the prospectus filed Friday with the Securities and Exchange Commission
did not specify whether they would shed any of their stakes in the
eventual IPO.
Toys R Us, based in Wayne, New Jersey, said only in the filing that it
plans to use the net proceeds of the offering to pay down some of its
debt, without getting into specifics.
