IPOs, Initial Public Offerings: pre & post IPO

May 19wk archive

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May 19wk new IPOs:   ARGX     FFWM     HRTG     ICC     JD     PE     SEMI

Ratings subject to change, depending on market conditions & further research
IPO Calendar Manager Exp shares    Price Range Est$ IPO size Exptd Smry for price range mid-point
Week of May 19, 2014
UP — China online direct sales NSDAQ
JD.com (JD)  Priced at $19 BofA Merrill; UBS; Allen & Co; Barclays; China Renaissance; Jefferies $94 $16 $18 $1,593 Thus Neutral plus, strong rev growth, only 10% gross margins, C, 7
UP — Oil/natural gas dev & exploration NYSE
Parsley Energy (PE)  Priced at $18.50  50mm shrs Credit Suisse; Goldman; J.P. Morgan; Wells Fargo 43.9 $15 $18 $724 Fri Neutral plus, Permian basin oil sector play, C+, 7
POSTPONED — Physician led oncology services NYSE
21st Century Oncology Holdings (ICC)  Postponed Morgan; J.P. Morgan; Wells Fargo 13.3 $14 $16 $200 Wed Neutral to negative,low price-to-sales ratio, C, 7
UP — Silicon Wafers NSDAQ
SunEdison Semiconductor (SEMI)  Priced at $13 Deutsche; Goldman; Wells Fargo 7.2 $13 $15 $101 Thus Neutral plus, .7 times bk, C, 6
UP — Property/casualty insurance NYSE
Heritage Insurance Holdings (HRTG)  Priced at $11 Citigroup; SunTrust Robinson; Sandler O’Neill 6 $14 $16 $90 Fri Neutral, C+, 6.  Priced at $11, 26% discount.
DOWN — Prescription contraceptive products NSDAQ
Agile Therapeutics (ARGX)  Priced at $6 RBC Capital; William Blair 4.6
new 9.2
$12 new $6 $14 new $6 $60 new $56 Fri Neutral, but if Phase 3 successful, then a big stock, C, 6
POSTPONED — Personalized financial services NSDAQ
First Foundation (FFWM) Postponed Sandler Oneill; Keefe, Bruyette & Woods 2.2 $21 $24 $50 Thurs Neutral minus, C+, 6.5

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