IPO Rebound? 6 Set for This Week
Tech firms are rethinking public offerings, but there are a slew of non-digital businesses that will begin public trading the in coming days.
But a handful of more traditional companies--from a variety of sectors--now seem ready to brave the public markets.
Here are six firms whose listings are expected to hit trading floors in the coming days.
- Bloomin' Brands: The Tampa, Florida-based parent company behind Outback Steakhouse and other corporate chain restaurants has more than 1,400 restaurants in 49 and 21 countries and territories. Bloomin' Brands hopes to raise $300 million by offering 21.4 million shares at price between $13 and $15. The company will be listed on the NASDAQ with the symbol BLMN.
- CKE Restaurants: Also a restaurant company, CKE owns fast-food chains Carl's Jr. and Hardee's, with more than 3,000 locations in 43 states and 13 countries. CKE plans to offer 13.3 million shares at a price range of $14 to $16, raising approximately $200 million. The company, which is headquartered in Carpinteria, California, will be listed under the symbol CK and listed on the NYSE.
- Manchester United Ltd.: Founded in 1878, Manchester United is one of the world's most successful soccer clubs. The company now plans to offer 16.7 million shares this week at a price range of $16 to $20, aiming to raise about $300 million. Over the weekend, the club signed a seven-year, $559 million sponsorship deal with General Motors that will put GM's Chevrolet brand name on the team's jerseys, Reuters reports. The company will be listed on the NYSE under MANU.
- Peregrine Semiconductor: The provider of radio frequency integrated circuits plans to raise $38 million by offering 5.5 million shares at a price range of $14 to $16 this week. If priced at $15, the midpoint of that range, the company's market value would be $458 million. Peregrine will likely list on the NASDAQ under the symbol PSMI.
- Performant Financial: Performant Financial recovers delinquent and defaulted loans for the Department of Education and Medicare. This week, they will be looking to raise $150 million by offering 11.5 million shares at a price range of $12 to $14, for a market value of approximately $656 million. The Livermore, California, company plans to list on the NYSE under the symbol PFMT.
- Stemline Therapeutics: This biotech firm is developing treatments that target cancer stem cells and tumor bulk. The company plans to raise $42 million this week by offering 3.5 million shares at a price range of $11 to $13. The company's ticker symbol will likely be STML and listed on the NASDAQ.