146 initial public offerings have been priced so far this year as of Sept 29, 2006:
Three IPOs were priced during the week of October 2nd, 2006. There are
eight deals on deck for the next week planning to raise nearly $2 billion.
IPO PERFORMANCE
Greek shipping company
Danaos Corp. (
DAC: chart) on Thursday raised more than $215 million with an IPO that priced at $21 per share, the midpoint of a $20 to $22 forecast range.
The 10.25 million share offering represents an almost 19% stake in the company.
Merrill Lynch and Citigroup were the lead managers for the offering. They have an option to buy 1.54 million additional shares to cover over-allotments.
The company operates 27 container ships with another 16 vessels expected to be delivered through 2009.
The shares ended the week at $20.85, down %0.7 from the offering price.
BreitBurn Energy Partners L.P. (
BBEP: chart) priced its initial public offering of 6 million common units at $18.50 per unit, slightly below a $19 to $21 forecast range. The offering represents almost 27% interest in the company and was worth $111 million.
BreitBurn Energy has granted the underwriters a 30-day over-allotment option to buy up to 900,000 additional common units.
RBC Capital Markets and Citigroup were the lead managers with Credit Suisse serving as senior co-manager for the offering.
BreitBurn Energy Partners L.P. is an independent oil and gas limited partnership, recently formed by a subsidiary of Provident Energy Trust, focused on the acquisition, exploitation and development of oil and gas properties.
The shares ended the week at $18.50, unchanged from the offering price.
IPO CALENDAR – week of October 9th
Biopharmaceutical company
ImaRX Therapeutics (
IMRX: chart) plans to offer 5 million shares within a price range of $10-$12, in a bid to raise $69 million. CIBC World Markets, Jefferies and First Albany Capital will manage the deal.
The Israel-based therapeutic products developer
Rosetta Genomics (
ROSG: chart) plans to offer 3 million shares within a price range of $11-$13, in a bid to raise $45 million. CE Unterberg Towbin, Oppenheimer and Maxim Group will manage the deal.
Cancer treatment developer
Light Sciences Oncology (
LSON: chart) plans to offer 5.25 million shares within a price range of $14-$16 a share, in a bid to raise $96.6 million. Cowen & Company, Wachovia, Jefferies and Thomas Weisel will manage the deal.
Network session border control provider
Acme Packet (
APKT: chart) plans to offer 11.5 million shares within a price range of $6.50-$7.50 per share, in a bid to raise $99 million. Goldman Sachs, Credit Suisse, JP Morgan and ThinkEquity Partners will underwrite the deal.
Health insurance provider
eHealth (
EHTH: chart) plans to offer 5 million shares within a price range of $10-$12, hoping to raise $69 million. Morgan Stanley, Merrill Lynch, Thomas Weisel and JMP Securities will mange the deal.
Consultancy
SAIC Inc. (
SAI: chart) plans to offer 75 million shares within a price range of $13-$15, in a bid to raise $1.3 billion. Morgan Stanley and Bear Stearns will head the group of underwriters on the deal.
Shipper
UltraPetrol Bahamas (
ULTR: chart) plans to sell 12.5 million shares within a price range of $13-$15 per share, in a bid to raise $215.6 million. UBS Investment Bank and Bear Stearns will be the lead underwriters on the deal.