So far in 2011, IPO fees generated by banks have come to $533 million, more than the banks have made in 6 years.
Leading the sector in garnering the fees are Morgan Stanley (NYSE:MS) Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC), which have accounted for 30 percent of the revenue generated so far this year.
So far this year the total is over four times what it was at the same time in 2010, much of that coming from the recent IPO of HCA Holdings Inc's (NYSE:HCA) of $3.8 billion.
Morgan Stanley was trading at $28.27, up $0.20, or 0.71 percent, as of 1:08 PM EST. Goldman Sachs was at $160.71, up $0.44, or 0.27 percent. Bank of America was trading at $14.31, up $0.05, or 0.32 percent.
Showing posts with label IPO. Show all posts
Showing posts with label IPO. Show all posts
Friday, March 11, 2011
Thursday, February 24, 2011
Citigroup (C), Morgan Stanley (MS) Among Banks Battling to Underwrite Ivanplats IPO
Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS) are among several banks reportedly battling it out to underwrite the upcoming IPO of Ivanplats.
Ivanhoe Nickel & Platinum Ltd., the mining company known as Ivanplats, plans to go public this year in an offering that could raise between $750 million and $1 billion, people familiar with the matter said.
In recent weeks, Ivanplats has been interviewing various banks for the initial public offering of stock, which could value the company at more than $5 billion, although the current valuation could change based on copper prices, political stability and the development of actual mines, these people said. Robert Friedland, the chief executive of Ivanhoe Mines Ltd., is a controlling shareholder of Ivanplats, with a stake of about 30%. Institutional investors own the rest of Ivanplats. Ivanhoe, which owns 8% of Ivanplats, is also considering its own sale or breakup.
Ivanplats's mineral holdings include a nickel, platinum and copper deposit in South Africa as well as a copper and cobalt discovery in the Democratic Republic of Congo. The company, which has offices in South Africa and Canada, has explored going public in the past, most recently in 2007. But it held off because of the global economic slump.
Now, with commodity prices on the upswing and high demand for raw materials from developing countries, Ivanplats stands to benefit from a public offering, the people familiar with the matter said. A Wednesday mining-industry report by Ernst & Young said 2011 will be marked by a flurry of IPOs, driven by pent-up demand for public equity and the desire to provide "shareholder exposure to strong commodity prices."
Full Story
Ivanhoe Nickel & Platinum Ltd., the mining company known as Ivanplats, plans to go public this year in an offering that could raise between $750 million and $1 billion, people familiar with the matter said.
In recent weeks, Ivanplats has been interviewing various banks for the initial public offering of stock, which could value the company at more than $5 billion, although the current valuation could change based on copper prices, political stability and the development of actual mines, these people said. Robert Friedland, the chief executive of Ivanhoe Mines Ltd., is a controlling shareholder of Ivanplats, with a stake of about 30%. Institutional investors own the rest of Ivanplats. Ivanhoe, which owns 8% of Ivanplats, is also considering its own sale or breakup.
Ivanplats's mineral holdings include a nickel, platinum and copper deposit in South Africa as well as a copper and cobalt discovery in the Democratic Republic of Congo. The company, which has offices in South Africa and Canada, has explored going public in the past, most recently in 2007. But it held off because of the global economic slump.
Now, with commodity prices on the upswing and high demand for raw materials from developing countries, Ivanplats stands to benefit from a public offering, the people familiar with the matter said. A Wednesday mining-industry report by Ernst & Young said 2011 will be marked by a flurry of IPOs, driven by pent-up demand for public equity and the desire to provide "shareholder exposure to strong commodity prices."
Full Story
Wednesday, February 2, 2011
Bank of America, (NYSE:BAC), Deutsche Bank (NYSE:DB) Lead NeoPhotonics to $82.5 Million IPO
NeoPhotonics Corp., which starts trading today on the New York Stock Exchange under the ticker symbol "NPTN," raised $82.5 million in its IPO, led by Bank of America, (NYSE:BAC) and Deutsche Bank (NYSE:DB). The company increased the number of shares available to boost the total.
A total of 7.5 million shares were sold at a price of $11 each. That was after the initial offering of 7 million shares at $9 to $11 each, according to its filing with the U.S. Securities and Exchange Commission.
The company said they will use the money raised for working capital.
This week 11 companies are attempting to raise almost $1 billion through IPOs.
A total of 7.5 million shares were sold at a price of $11 each. That was after the initial offering of 7 million shares at $9 to $11 each, according to its filing with the U.S. Securities and Exchange Commission.
The company said they will use the money raised for working capital.
This week 11 companies are attempting to raise almost $1 billion through IPOs.
Thursday, November 18, 2010
Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), Have 30 Days to Exercise GM (NYSE:GM) Option
The long anticipated, but overhyped IPO of General Motors (NYSE:GM) has finally come, and interest in the shares could result in Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM) and Morgan Stanley (NYSE:MS), who are underwriters of the offering, to exercise an overallotment option, which could increase the number of shares offered by another 14.3 million. They have 30 days to make the decision.
Shares in General Motors increased by 7 percent in early trading on Thursday, which will help them to pay back taxpayers who essentially saved the company; something that shouldn't of happened, but here we are anyway.
GM traded at about $35.25 at 12:00 PM EDT.
Including the $4.35 billion of preferred shares and overallotment option, it would bring the IPO to be the largest in history, although shares would have to climb significantly in order for the automaker to pay generate a profit to its major investors.
The U.S. Treasury offered close to 360 million shares in the IPO at an initial value of $33 a share. GM shares will have to rise to $53 in order for the Treasury to break even in the deal.
The government paid GM $49.5 billion. Of that, about $13.6 billion will be paid back as a result of the IPO immediately.
Shares in General Motors increased by 7 percent in early trading on Thursday, which will help them to pay back taxpayers who essentially saved the company; something that shouldn't of happened, but here we are anyway.
GM traded at about $35.25 at 12:00 PM EDT.
Including the $4.35 billion of preferred shares and overallotment option, it would bring the IPO to be the largest in history, although shares would have to climb significantly in order for the automaker to pay generate a profit to its major investors.
The U.S. Treasury offered close to 360 million shares in the IPO at an initial value of $33 a share. GM shares will have to rise to $53 in order for the Treasury to break even in the deal.
The government paid GM $49.5 billion. Of that, about $13.6 billion will be paid back as a result of the IPO immediately.
Wednesday, October 20, 2010
Wells Fargo (NYSE:WFC) Downgrades Oasis Petroleum (NYSE:OAS) Citing Valuation
With its strong performance since its summer IPO, Oasis Petroleum (NYSE:OAS) is looked upon as fully valued, and Wells Fargo (NYSE:WFC) was the latest to downgrade them, as the dropped them from "Outperform" to "Market Perform."
Wells said, "We are downgrading shares of OAS following substantial absolute and relative strength. With shares up 55% from the IPO, they have handily outperformed the EPX during that timeframe. With Bakken upside potential increasingly understood, execution a requisite, and oil trading toward the higher end of its recent range, we view risk reward as more consistent with a Market Perform rating. We are maintaining our estimates and valuation at this time."
UBS (NYSE:UBS) downgraded them Monday from "Buy" to "Neutral," citing similar reasons.
Oasis closed Tuesday at $20.26, losing $1.40, or 6.46 percent.
Wells has a valuation range of $21.00 to $23.00 on them.
Wells said, "We are downgrading shares of OAS following substantial absolute and relative strength. With shares up 55% from the IPO, they have handily outperformed the EPX during that timeframe. With Bakken upside potential increasingly understood, execution a requisite, and oil trading toward the higher end of its recent range, we view risk reward as more consistent with a Market Perform rating. We are maintaining our estimates and valuation at this time."
UBS (NYSE:UBS) downgraded them Monday from "Buy" to "Neutral," citing similar reasons.
Oasis closed Tuesday at $20.26, losing $1.40, or 6.46 percent.
Wells has a valuation range of $21.00 to $23.00 on them.
Tuesday, October 19, 2010
Oasis Petroleum (NYSE:OAS) Trading Beyond Valuation?
Oasis Petroleum (NYSE:OAS) has soared since its initial public offering in Jue 2009, soaring about 60 percent since that time.
But according to UBS (NYSE:UBS), they believe the company at this time is trading at 2P valuations that are unsustainable in the short term. Consequently UBS downgraded Oasis from "Buy" to "Neutral."
UBS analyst says, "Since its June IPO, shares of OAS have rallied 60% vs. oily peers of 23%. We attribute the rapid appreciation to: 1) solid operational execution across its first set of Bakken wells; 2) increased M&A activity in the Bakken; and 3) broader confidence in Bakken resource potential. While we still view the company favourably in terms of fundamentals, we now believe the market is trading the company beyond 2P valuations and may be attempting to price in a takeout premium that we believe is unlikely to take place," said UBS.
Oasis closed Monday at $21.66, gaining $0.02, or 0.09 percent.
But according to UBS (NYSE:UBS), they believe the company at this time is trading at 2P valuations that are unsustainable in the short term. Consequently UBS downgraded Oasis from "Buy" to "Neutral."
UBS analyst says, "Since its June IPO, shares of OAS have rallied 60% vs. oily peers of 23%. We attribute the rapid appreciation to: 1) solid operational execution across its first set of Bakken wells; 2) increased M&A activity in the Bakken; and 3) broader confidence in Bakken resource potential. While we still view the company favourably in terms of fundamentals, we now believe the market is trading the company beyond 2P valuations and may be attempting to price in a takeout premium that we believe is unlikely to take place," said UBS.
Oasis closed Monday at $21.66, gaining $0.02, or 0.09 percent.
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