IPO News – Sonoran Weekly Review

Vodafone Solicits Banks to Pitch For $2 Bln – $2.5 Bln IPO of Indian Unit: Reuters (NASDAQ:VOD)

Robin Reyes — Thu, 21 Apr 2016 21:32:53 +0000

Vodafone Group (NASDAQ:VOD) invited several banks to make pitches to manage an initial public offering of its Indian subsidiary Vodafone India, Reuters reported Thursday, citing sources close to the matter. Sources said the IPO is expected to raise between $2 billion and $2.5 billion, which would make it the biggest IPO in India since Coal India’s $3.5 billion IPO six years ago. According to the sources, Vodafone approached Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), Bank of America Merrill Lynch (BAC), UBS Group (UBS) and Indian banks Kotak Investment Banking and ICICI Securities, a unit of ICICI Bank (IBN). Sources also said Vodafone is expected to select about six banks to manage the offering in the next couple of weeks. In recent trade, VOD was inching 0.7% lower, moving in the lower half of the 52-week range of $28.83 to $39.46.

The stock is down 0.06% or $0.02 after the news, hitting $33.4 per share. About 3.05M shares traded hands. Vodafone Group Plc (ADR) (NASDAQ:VOD) has declined 0.24% since September 15, 2015 and is downtrending. It has underperformed by 6.52% the S&P500.

Vodafone Group Plc operates as a telecommunications company worldwide. The company offers voice, messaging, and data services across mobile and fixed networks; fixed broadband and TV services; cloud and hosting, as well as Internet protocol-virtual private network services; roaming services; and unified communications services. It also provides M-Pesa, a mobile money transfer and payment service that enables customers with access to a bank account to send and receive money, purchase goods, pay bills, and save money and receive short-term loans; and Vodafone One Net, a converged fixed and mobile communications service for large and multinational companies, and small and medium-sized companies.

In addition, Vodafone Group Plc offers M2M business solutions; carrier services, such as fixed and mobile connectivity and other services; smartphones and tablets; and telematics products and services. The company serves 446 million mobile, 12 million fixed broadband, and 9 million TV customers. It sells its products through approximately 16,000 branded stores, distribution partners, and third party retailers. Vodafone Group Plc was founded in 1984 and is based in Newbury, the United Kingdom.

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MGM Resorts Prices Shares in MGM Growth Spinoff at $21/Share to Raise $1.05 Bln (NYSE:MGM)

Robin Reyes — Wed, 20 Apr 2016 15:37:50 +0000

MGM Resorts International (NYSE:MGM) priced the sale of 50 million shares late Tuesday in its MGM Growth Properties unit at $21.00 per share, raising gross proceeds of $1.05 billion. The Class A shares are expected to begin trading on the New York Stock Exchange on April 20, 2016 under the ticker symbol “MGP.” Underwriters have a 30-day option to purchase up to 7.5 million additional Class A shares at the public offering price. The proceeds will be used by MGP to purchase units in a newly formed operating partnership that will acquire the real estate associated with Mandalay Bay, The Mirage, New York-New York, Luxor, Monte Carlo, Excalibur, The Park, MGM Grand Detroit, Beau Rivage and Gold Strike Tunica resorts. MGM shares are up 0.4% in pre-market trading at $23.13 in a 52-week range of $16.18 – $24.41.

The stock is down 0.93% or $0.22 after the news, hitting $22.81 per share. About 3.98M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 9.67% since September 14, 2015 and is uptrending. It has outperformed by 2.10% the S&P500.

MGM Resorts International, through its wholly owned subsidiaries, owns and/or operates casino resorts in the United States and China. The company operates through two segments, Wholly Owned Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. Its casino operations include various slots, table games, and race and sports book wagering.

The company operates 12 wholly owned resorts in the United States; and MGM Macau resort and casino in China, as well as develops an integrated casino, hotel, and entertainment resort on the Cotai Strip, Macau. The company also owns and operates Shadow Creek golf course, Primm Valley Golf Club, and Fallen Oak golf course. The company serves premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was founded in 1986 and is based in Las Vegas, Nevada.

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Bats Global Markets Jumps 20% on First Day of Trading (LON:BATS)

Robin Reyes — Fri, 15 Apr 2016 19:43:07 +0000

Shares of Bats Global Markets Inc. (LON:BATS) were up nearly 20% on their first day of trading on the Bats exchange on Friday, after the global operator of financial exchanges said late Thursday it priced its initial public offering of 13.3 million shares at $19 each, at the top end of the expected range of $17 to $19 a share. Initially, the company expected an IPO of up to 11.2 million shares to be priced between $17 to $19 a share. Bats Global Markets said all of the shares on offer are being sold by certain stockholders, who also granted underwriters a 30-day option to purchase up to nearly 2 million additional shares. The company noted it will not receive any proceeds from the IPO, which is slated to close on April 20, subject to customary closing conditions. Shares began trading on the Bats BZX Exchange on Friday under the ticker “BATS.”

The stock increased 0.52% or GBX 22 on April 15, hitting GBX 4232. About 3.02M shares traded hands or 13.11% up from the average. British American Tobacco plc (LON:BATS) has risen 18.38% since September 16, 2015 and is uptrending. It has outperformed by 11.13% the S&P500.

British American Tobacco PLC is a global tobacco firm with brands sold in more than 200 markets. The company has a market cap of 78.89 billion GBP. The Company’s four principal brands include Dunhill, Kent Lucky Strike and Pall Mall. It has 18.38 P/E ratio. The Firm has many other international and local brands, including State Express 555, Vogue, Viceroy, Kool, Peter Stuyvesant, Shuang Xi, Craven A, Benson & Hedges and John Player Gold Leaf.

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Bats Global Markets Prices Upsized IPO of 13.3 Mln Shares at $19/Share, At Top End of Expected Range (LON:BATS)

Robin Reyes — Fri, 15 Apr 2016 15:42:49 +0000

Bats Global Markets Inc., a global operator of financial exchanges, said late Thursday it priced its initial public offering of 13.3 million shares at $19 each, at the top end of the expected range of $17 to $19 a share. Initially, the company expected an IPO of up to 11.2 million shares to be priced between $17 to $19 a share. Bats Global Markets said all of the shares on offer are being sold by certain stockholders, who also granted underwriters a 30-day option to purchase up to nearly 2 million additional shares. The company noted it will not receive any proceeds from the IPO, which is slated to close on April 20, subject to customary closing conditions. Shares are expected to start trading on the Bats BZX Exchange on Friday under the ticker “BATS.”

The stock is up 0.38% or GBX 16 after the news, hitting GBX 4226 per share. About 2.17M shares traded hands. British American Tobacco plc (LON:BATS) has risen 21.24% since September 15, 2015 and is uptrending. It has outperformed by 13.99% the S&P500.

British American Tobacco PLC is a global tobacco firm with brands sold in more than 200 markets. The company has a market cap of 78.78 billion GBP. The Company’s four principal brands include Dunhill, Kent Lucky Strike and Pall Mall. It has 18.35 P/E ratio. The Firm has many other international and local brands, including State Express 555, Vogue, Viceroy, Kool, Peter Stuyvesant, Shuang Xi, Craven A, Benson & Hedges and John Player Gold Leaf.

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Bats Global Markets, Inc. Prices IPO at $19 Per Share, at the Top of Pricing Range; Size of Offering Increased to 13.3 Mln Shares of Common Stock (LON:BATS)

Robin Reyes — Thu, 14 Apr 2016 23:40:19 +0000

The stock increased 0.26% or GBX 10.71 on April 14, hitting GBX 4197.21. About 2.53M shares traded hands. British American Tobacco plc (LON:BATS) has risen 21.24% since September 15, 2015 and is uptrending. It has outperformed by 15.50% the S&P500.

British American Tobacco PLC is a global tobacco firm with brands sold in more than 200 markets. The company has a market cap of 78.25 billion GBP. The Company’s four principal brands include Dunhill, Kent Lucky Strike and Pall Mall. It has 18.22 P/E ratio. The Firm has many other international and local brands, including State Express 555, Vogue, Viceroy, Kool, Peter Stuyvesant, Shuang Xi, Craven A, Benson & Hedges and John Player Gold Leaf.

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Ashland Says Plans to Separate Into 2 Cos on Track (NYSE:ASH)

Robin Reyes — Wed, 13 Apr 2016 23:57:24 +0000

Ashland (NYSE:ASH) says plans are on track to separate Ashland into two independent, publicly traded companies: the new Ashland, composed of Ashland Specialty Ingredients and Ashland Performance Materials, and Valvoline, composed of Ashland’s Valvoline business segment.

The stock increased 1.47% or $1.63 during the last trading session, hitting $112.21. About 319,084 shares traded hands. Ashland Inc (NYSE:ASH) has risen 9.68% since September 4, 2015 and is uptrending. It has outperformed by 2.37% the S&P500.

Ashland Inc. operates as a specialty chemicals company worldwide. It operates through three segments: Specialty Ingredients, Performance Materials, and Valvoline. The Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives. This segment serves pharmaceutical companies; makers of personal care products, food, and beverages; manufacturers of paint, coatings, and construction materials; packaging and converting markets; and oilfield service companies.

The Performance Materials segment offers composites, such as polyester and vinyl ester resins, gelcoats, molten maleic anhydride, and low-profile additives; and intermediates and solvents, including 1,4 butanediol, tetrahydrofuran, and n-methylpyrrolidone. This segment serves manufacturers of residential and commercial building products; industrial product specifiers and manufacturers; wind blade manufacturers; pipe manufacturers; automotive and truck OEM suppliers; boatbuilders; chemical producers; and electronics makers. The Valvoline segment produces and distributes automotive, commercial, and industrial lubricants, and automotive chemicals. It offers lubricants and automotive chemicals under the Valvoline brand; lubricants for cars with higher mileage engines under the MaxLife brand; synthetic motor oil under the SynPower brand; and antifreeze products under the Zerex brand. This segment also operates and franchises approximately 940 Valvoline Instant Oil Change centers in the United States. The company was founded in 1924 and is headquartered in Covington, Kentucky.

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Underwriters Exercise Options From Aeglea Bio IPO, Boosting Company’s Gross Proceeds Near $55 Mln (NASDAQ:AGLE)

Robin Reyes — Tue, 12 Apr 2016 23:24:57 +0000

Aeglea BioTherapeutics Inc. (NASDAQ:AGLE) was unchanged at $9.65 a share after the biotech company tonight closed on its $54,8 million initial public offering of stock, selling almost 5.5 million shares of its common stock at $10 apiece. Underwriters participating in the IPO exercised options to buy an additional 481,940 shares to cover overallotments and adding about $4.8 million in gross proceeds to the company’s take..

The stock decreased 7.39% or $0.77 on April 12, hitting $9.65. About 193,206 shares traded hands. Aeglea Bio Therapeutics Inc (NASDAQ:AGLE) has risen 6.00% since March 14, 2016 and is uptrending. It has outperformed by 1.34% the S&P500.

Aeglea Biotherapeutics, Inc., a biopharmaceutical company, engages in developing engineered human enzymes for the treatment of inborn errors of metabolism and cancer. It develops AERase/AEB1102, an amino acid for the degradation of arginine in the circulation, as well as for the treatment of hyperargininemia and cancer; and AECase/AEB3103, an engineered and PEGylated human cysteine/cystine degrading enzyme that increases oxidative stress through glutathione depletion for treatment of hematologic and solid malignancies.

The company also engages in developing AEMase/AEB2109, an engineered human enzyme that degrades methionine for the treatment of solid tumors; and AEB4104, an engineered human enzyme that degrades homocysteine in the circulation for the treatment of inborn error of metabolism homocystinuria. It has a strategic partnership with KBI Biopharma. Aeglea Biotherapeutics, Inc. was formerly known as Aeglea BioTherapeutics Holdings, LLC. The company was founded in 2013 and is based in Austin, Texas.

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MGM Resorts International Up Almost 3% After Shareholder Land And Buildings’ Comments about REIT IPO (NYSE:MGM)

Robin Reyes — Tue, 12 Apr 2016 20:52:12 +0000

MGM Resorts International (NYSE:MGM) is up nearly 3% after shareholder Land and Buildings Investment Management LLC says a MGM Growth Properties IPO is fairly valued at $19.50 per share at the IPO midpoint. It also says a MGM REIT is superior to its peer Gaming and Leisure Properties (GLPI) but from a corporate governance perspective it believes the MGM REIT is inferior to GLPI and problematic on numerous levels.

The stock is down 0.68% or $0.15 after the news, hitting $22.5 per share. About 6.21M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 7.66% since September 3, 2015 and is uptrending. It has outperformed by 3.01% the S&P500.

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General Electric’s Czech Banking Unit Files For IPO on Prague Stock Exchange (NYSE:GE)

Robin Reyes — Mon, 11 Apr 2016 18:37:59 +0000

General Electric (NYSE:GE) shares were inching higher Monday after GE Money Bank, a unit of GE Capital, announced its plan to float on the Prague Stock Exchange. Analysts cited by the Financial Times said the business could be floated at a value of between EUR 1.5 billion ($2.1 billion) to EUR 2.2 billion, based on its book value. In a press release, GE Money Bank said GE Capital will retain a minority stake for at least six months after the float. The Czech lender said the minority stake will be reduced over time and that it has arrangements in place with GE Capital to receive assistance for a smooth transition to full independence from GE. GE was marginally higher in recent trade, moving in the upper end of the 52-week range of $19.37 to $32.05.

The stock is up 0.29% or $0.09 after the news, hitting $30.88 per share. About 12.24 million shares traded hands. General Electric Company (NYSE:GE) has risen 25.32% since September 2, 2015 and is uptrending. It has outperformed by 20.25% the S&P500.

General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The companyÂ’s Power segment offers gas and steam power systems; maintenance, service, and upgrade solutions; distributed power gas engines; water treatment, wastewater treatment, and process system solutions; and nuclear reactors, fuels, and support services. Its Renewable Energy segment provides wind turbine platforms, and hardware and software; offshore wind turbines; and solutions, products, and services to hydropower industry. The companyÂ’s Oil and Gas segment provides turbomachinery solutions; surface and subsea drilling and production systems, and equipment for floating production platforms; measurement and control products; and compressors, pumps, valves, and natural gas solutions. Its Energy Management segment offers industrial and grid solutions; and power conversion systems.

The companyÂ’s Aviation segment designs and produces commercial and military aircraft engines, integrated digital components, electric power, and mechanical aircraft systems; and provides aftermarket services. Its Healthcare segment offers diagnostic imaging and clinical systems; products and services for drug discovery, biopharmaceutical manufacturing, and cellular technologies; and healthcare information technology products. The companyÂ’s Transportation segment provides freight and passenger locomotives, parts, wreck repair, software-enabled solutions, mining equipment and services, marine diesel engines, stationary power diesel engines and motors, and overhaul, repair, and upgrade services. Its Appliances & Lighting segment sells and services home appliances; and manufactures, sources, and sells lighting solutions. The companyÂ’s Capital segment offers commercial lending and leasing, factoring, energy financial services, and aircraft financing and leasing services. General Electric Company was founded in 1892 and is headquartered in Fairfield, Connecticut.

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MGM Resorts Unveils IPO Terms for MGM Growth Properties LLC (NYSE:MGM)

Robin Reyes — Fri, 08 Apr 2016 20:13:55 +0000

MGM Growth Properties LLC (NYSE:MGM), MGM Resorts’ (MGM) real estate investment trust (REIT), unveiled the terms for its IPO. The REIT, which has an initial portfolio of 10 gaming properties, said it plans to raise $975 million by offering 50 million shares at a price range of $18 to $21. MGM Growth Properties LLC plans to list on the NYSE under the symbol MGP. MGM shares were up 3.3% at $22.39 in recent trade, with a 52-week range of $16.18 – $24.41.

The stock is up 3.18% or $0.69 after the news, hitting $22.36 per share. About 11.41 million shares traded hands or 63.23% up from the average. MGM Resorts International (NYSE:MGM) has risen 9.06% since September 1, 2015 and is uptrending. It has outperformed by 2.37% the S&P500.

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Aeglea BioTherapeutics Above IPO Price on First Day of Trading (NASDAQ:AGLE)

Robin Reyes — Thu, 07 Apr 2016 17:55:50 +0000

Aeglea BioTherapeutics (NASDAQ:AGLE) shares rose on Thursday on their first day of trading. The biotechnology company focused on developing enzyme-based therapeutics in the field of amino acid metabolism to treat inborn errors of metabolism and cancer had priced its initial public offering of 5 million shares at $10 each. Aeglea has granted underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The stock is listed under the symbol AGLE on the Nasdaq Global Market. AGLE has traded in a range between $9.61 and $10.72 on the first day of trading.

The stock is up 3.40% or $0.34 after the news, hitting $10.34 per share. Aeglea Biotherapeutics Inc (NASDAQ:AGLE) has risen 6.00% since March 8, 2016 and is uptrending. It has outperformed by 1.21% the S&P500.

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Constellation May IPO Canada Wine Ops (NYSE:STZ)

Robin Reyes — Wed, 06 Apr 2016 15:42:34 +0000

NYSE-listed Constellation Brands, Inc (NYSE:STZ) disclosed it’s weighing a potential IPO of some of its Canadian wine business, according to the Wall Street Journal. It cited CEO Rob Sands as saying that business’ “full value is not being recognized” as results were “excellent” this past year, outperforming the sector and gaining market share. A decision is anticipated sometime in 2016, the WSJ added.

The stock is up 4.20% or $6.35 after the news, hitting $157.71 per share. About 1.77 million shares traded hands or 18.00% up from the average. Constellation Brands, Inc. (NYSE:STZ) has risen 18.31% since August 28, 2015 and is uptrending. It has outperformed by 15.47% the S&P500.

Constellation Brands, Inc. is an international beverage alcohol company. The company has a market cap of $31.29 billion. The Company’s operating divisions include Beer, Wine and Spirits and Corporate Operations and Other. It has 34.82 P/E ratio. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products.

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Enersis Americas Spins Off Enersis Chile (NYSE:ENI)

Robin Reyes — Tue, 05 Apr 2016 12:50:08 +0000

Enersis Americas S.A (NYSE:ENI) is spinning of Enersis Chile, to be listed on the New York Stock Exchange under the ticker symbol ENIC, effective April 14. Enersis Chile said that every Enersis Americas shareholder will have the right to receive one Enersis Chile share for each Americas share they own, and holders of American depositary shares will have the right to receive one ADS of Enersis Chile for each ADS of Enersis Americas held. Upon the spin-off, the ticker symbol for Enersis Americas is expected to change to ENIA from currently ENI. ENI closed below the mid-point of the 52-week range between $10.33 and $18.72. It was inactive in recent pre-market trade.

The stock decreased 0.36% or $0.05 on April 4, hitting $14. Enersis Americas SA (ADR) (NYSE:ENI) has risen 1.82% since August 27, 2015 and is uptrending. It has underperformed by 2.13% the S&P500.

Enersis AmÃ©ricas S.A., an electric utility company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Argentina, Brazil, Colombia, and Peru. It generates electricity from hydroelectric, thermal, and wind power plants. The company also provides business consultancy services in technology, information and computer science, telecommunications, and data transmission, as well as develops real estate projects. The company was formerly known as Enersis S.A. and changed its name to Enersis AmÃ©ricas S.A. in February 2016. Enersis AmÃ©ricas S.A. was founded in 1889 and is headquartered in Santiago, Chile.

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American International Group’s Mortgage Arm United Guaranty Files for $100 Mln Initial Public Offering (NYSE:AIG)

Robin Reyes — Thu, 31 Mar 2016 21:28:27 +0000

American International Group (NYSE:AIG) shares were slipping Thursday after it emerged the company’s mortgage unit United Guaranty Corp filed for an initial public offering of $100 million, according to a Form S-1 filing with the Securities and Exchange Commission. United Guaranty won’t receive any of the proceeds of the share sale, the filing said Wednesday. JPMorgan Chase & Co. and Morgan Stanley are underwriting the deal. AIG shares trade in the lower half of their 52-week range of $50.20 – $64.93.

The stock decreased 0.86% or $0.47 during the last trading session, hitting $54.05. About 8.31M shares traded hands or 3.10% up from the average. American International Group Inc (NYSE:AIG) has declined 4.25% since August 24, 2015 and is downtrending. It has underperformed by 13.27% the S&P500.

American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Commercial Insurance and Consumer Insurance. The companyÂ’s Commercial Insurance segment offers general liability, commercial automobile liability, workersÂ’ compensation, excess casualty, and crisis management causality insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products; various insurance products for small and medium sized enterprises; and professional liability insurance products. It also provides mortgage guaranty insurance; stable value wrap products, and structured settlement and terminal funding annuities; and corporate- and bank-owned life insurance and guaranteed investment contracts.

This segment sells its products through independent retail and wholesale brokers, agency network, specialized marketing and consulting firms, and structured settlement brokers. Its Consumer Insurance segment offers retirement products, such as fixed annuities, and immediate and deferred income annuities; variable and fixed index annuities; and mutual funds, and plan administrative and compliance services. This segmentÂ’s products also include term and whole life, cancer, and critical illness insurance products; personal accident and supplemental health products; travel insurance products and services; automobile and homeowners, and extended warranty insurance; and identity theft and credit card protection products. It sells its products through agents, direct marketing, independent marketing organizations, financial advisors, banks, wirehouses, and broker-dealers. The company was founded in 1919 and is based in New York, New York.

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Tesla Slips 1% – Devonshire Research Claims Share Price Is Overvalued (NASDAQ:TSLA)

Robin Reyes — Tue, 22 Mar 2016 23:22:52 +0000

Shares of Tesla Motors (NASDAQ:TSLA) were sliding Tuesday after Devonshire Research issued a negative note, claiming that the electric carmaker’s share price is overvalued. In the report, Devonshire noted the company has yet to generate a profit since its IPO in 2010. The research group added that Tesla is trading at revenue multiples significantly higher than its competitors, and that the only companies trading at comparable multiples are found in the biotechnology, software and social media sectors. Devonshire noted that the carmaker has an “impressive” rate of innovation, which combined with Tesla’s brand value is still not enough to justify its current valuation. TSLA was off over 1% before the closing bell, moving in the upper half of the 52-week range of $141.05 to $286.65.

The stock is down 0.37% or $0.86 after the news, hitting $233.38 per share. About 4.31 million shares traded hands. Tesla Motors Inc (NASDAQ:TSLA) has declined 1.99% since August 14, 2015 and is downtrending. It has underperformed by 0.08% the S&P500.

Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles and stationary energy storage products in the United States, China, Norway, and internationally. It primarily offers sedans and sport utility vehicles. The company also offers electric vehicle powertrain components and systems to other manufacturers. Tesla Motors, Inc. sells its products through a network of Tesla stores and galleries, as well as through Internet. The company was founded in 2003 and is headquartered in Palo Alto, California.

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Imax Says Two Private Equity Investors in IPO Extend Lock-Up by Three Months to April 8; Shares Decline Off Halt (NYSE:IMAX)

Robin Reyes — Tue, 22 Mar 2016 20:22:35 +0000

Imax (NYSE:IMAX) shares resumed trade after a brief halt on Tuesday after the company and IMAX China Holding announced two lead private equity investors in IMAX China’s initial public offering have extended their lock-up for three additional months from April 8. After resuming trade, Imax shares were off over 4%, a move that will help the duo partially monetize their pre-IPO investment. IMAX China has been informed by Morgan Stanley Asia Limited, the lead underwriter, that CMC Capital Partners (CMC), a Chinese mutual fund focused on the media and entertainment sector, and FountainVest Partners, a China-focused private equity firm, extended their lock-ups in connection with the shares the two funds own in IMAX China, according to a statement Tuesday. In exchange for entering into the new lock-up, the underwriters agreed to allow CMC and FountainVest to sell 20 million shares in advance of the previously negotiated expiration date of their initial lock-up of April 8, 2016. “This agreement enables CMC and FountainVest to partially monetize their initial pre-IPO investment in IMAX China,” the company said in the statement. Imax shares trade in the bottom half of their 52-week range of $25.52 – $43.80, with an intraday trading volume of 1.4 million shares versus a daily average of c894,000.

The stock decreased 4.05% or $1.3 on March 22, hitting $30.81. About 2.47 million shares traded hands or 176.30% up from the average. IMAX Corporation (USA) (NYSE:IMAX) has declined 7.92% since August 14, 2015 and is downtrending. It has underperformed by 6.01% the S&P500.

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. The company operates in seven segments: IMAX Systems, Theater System Maintenance, Joint Revenue Sharing Arrangements, Film Production and IMAX Digital Re-Mastering (DMR), Film Distribution, Film Post-Production, and Other. The IMAX Systems segment designs, manufactures, sells, or leases IMAX theater projection system equipment. The Theater System Maintenance segment maintains IMAX theater projection system equipment in the IMAX theater network.

The Joint Revenue Sharing Arrangements segment provides IMAX theater projection system equipment to exhibitors. The Film Production and IMAX DMR segment engages in the production of films and the performance of film re-mastering activities. The Film Distribution segment distributes films for which the company has distribution rights. The Film Post-Production segment offers film post-production and film print services.

The Other segment owns and operates IMAX theaters; rents two-dimensional and three-dimensional (3D) large-format film and digital cameras to third party production companies; and production technical support and post-production services. The company also sells or leases its theater systems to theme parks, private home theaters, tourist destination sites, fairs, and expositions, as well as is involved in the after-market sale of projection system parts and 3D glasses. It primarily serves commercial multiplex exhibitors, as well as institutional customers, such as science and natural history museums, zoos, aquaria, and other educational and cultural centers. As of December 31, 2015, the company operated 1,061 IMAX theaters systems, including 943 commercial multiplexes, 19 commercial destinations, and 99 institutions in 67 countries. IMAX Corporation was founded in 1967 and is headquartered in Mississauga, Canada.

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Cemex Seeks Approval to Sell Minority Stake in Philippine Assets (NYSE:CX)

Robin Reyes — Fri, 11 Mar 2016 14:42:53 +0000

Cemex S.A.B. de C.V (NYSE:CX) said its subsidiary CEMEX Holdings Philippines has filed an application with the Securities and Exchange Commission of the Philippines to do an initial public offering of its shares. The cement and construction materials maker said it plans to sell stock to investors in the Philippines as well as a minority interest to eligible investors outside of the Philippines in a concurrent private placement, subject to obtaining approvals. CEMEX Holdings Philippines’ assets consist primarily of CEMEX’s cement manufacturing assets in the Philippines. CX ADRs closed in the lower half of the 52-week range between $3.64 and $10.48 on Friday. It was inactive in recent pre-market trade.

The stock increased 0.25% or $0.01 on March 10, hitting $6.12. Cemex SAB de CV (ADR) (NYSE:CX) has declined 23.69% since August 5, 2015 and is downtrending. It has underperformed by 18.44% the S&P500.

CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing projects, pavement projects, and green building consultancy services. Further, the company trades in grey and white cement, clinker, granulated blast furnace slag, special mortars, and other products; and sells information technology solutions and services. CEMEX, S.A.B. de C.V. was founded in 1906 and is headquartered in San Pedro Garza GarcÃa, Mexico.

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Syndax Pharmaceuticals Climbs to New Post-IPO High; Extending Advance Over 30% Since March 3 Debut (NASDAQ:SNDX)

Robin Reyes — Wed, 09 Mar 2016 22:37:11 +0000

Syndax Pharmaceuticals (NASDAQ:SNDX) rose to a new high on Wednesday after its initial public offering and the clinical-stage biotech company late yesterday amended and adopted restated company bylaws in connection with its March 3 initial public offering. The company previously approved the revisions on Sept. 28, 2015, and on Feb. 24, to become effective immediately before its IPO closed, according to a regulatory filing last night. SNDX shares were up more than 17% at $15.86 apiece, previously climbing to a best-ever $16.30 a share. The company last week priced a downsized initial public offering of 4.4 million shares at $12 apiece, raising gross proceeds of $52.8 million, down from its original plans to sell 5.06 million share at $16 each.

The stock increased 9.45% or $1.28 on March 9, hitting $14.83. About 356,594 shares traded hands. Syndax Pharmaceuticals Inc (NASDAQ:SNDX) has risen 6.00% since February 9, 2016 and is uptrending. It has outperformed by 11.66% the S&P500.

Syndax Pharmaceuticals, Inc. is a United States clinical-stage biopharmaceutical company. The company has a market cap of $317.36 million. The Firm is focused on the development of entinostat as a combination therapy in multiple cancer indications with a focus on tumors that are sensitive to immunotherapy, including lung cancer, melanoma, ovarian cancer and triple-negative breast cancer . It currently has negative earnings. The Firm is also developing Entinostat as a combination therapeutic in a Phase III clinical trial, which is being conducted with ECOG-ACRIN for advanced hormone receptor positive (HR+) breast cancer.

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Jensyn Acquisition Closes $39 Mln IPO (NASDAQ:JSYNU)

Robin Reyes — Mon, 07 Mar 2016 23:25:32 +0000

Jensyn Acquisition (NASDAQ:JSYNU) announced Monday afternoon the closing of its initial public offering of 3.9 million units, with each unit priced at $10 a share, for total gross proceeds of $39 million. The blank check company formed for the purpose of sealing a merger, share exchange or asset acquisition noted its shares began trading on the Nasdaq under the ticker “JSYNU” on March 3. Each unit consists of one common share, one warrant and one right to receive one-tenth of a common share. Shares of JSYNU were down by two cents in recent afternoon trade, with a three-day trading range of $9.91 to $10.00.

The stock closed at $9.98 during the last session. It is down 6.00% since February 7, 2016 and is uptrending. It has outperformed by 11.15% the S&P500.

Jensyn Acquisition Corp is a blank check company. The company has a market cap of $53.00 million.

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China’s ZTO Express Plans U.S. IPO, May Be Biggest Since Alibaba, WSJ Reports (NYSE:BABA)

Robin Reyes — Fri, 19 Feb 2016 18:48:29 +0000

China’s ZTO Express is planning a U.S. IPO later this year or early 2017 that could be the largest public-offering by a Chinese company since Alibaba’s (NYSE:BABA) $25 billion IPO in September 2014, according to The Wall Street Journal. The Chinese logistics company is planning to sell between $1 billion to $2 billion in shares. ZTO Express has invited banks to submit proposals by February 25, and has not yet decided whether to list on the Nasdaq or New York Stock Exchange. Founded in May 2002, ZTO Express now has more than 10,000 service outposts covering most of mainland China.

The stock is up 1.16% or $0.77 after the news, hitting $67.29 per share. About 8.48M shares traded hands. Alibaba Group Holding Ltd (NYSE:BABA) has declined 17.60% since July 15, 2015 and is downtrending. It has underperformed by 8.61% the S&P500.

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the PeopleÂ’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.

The company also provides pay-for-performance and display marketing services through its Alimama marketing technology platform; Taobao Ad Network and Exchange (TANX), a real-time online advertising exchange in China; and data management platform that allows participants on TANX to evaluate and select online advertising inventory using behavioral data, as well as data from browsing behavior and shopping history. In addition, it offers cloud computing services, including elastic computing, database services, and storage and large scale computing services through its Alibaba Cloud Computing platform; Web hosting and domain name registration services; payment and escrow services for buyers and sellers; and develops and operates mobile Web browsers. The company provides its solutions primarily for businesses. Alibaba Group Holding Limited was founded in 1999 and is based in Hangzhou, the PeopleÂ’s Republic of China.

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Naked Brand Group Begins Trading on Nasdaq as Public Offering Raises $6.9 Mln (NASDAQ:NAKD)

Jason Feld — Sat, 19 Dec 2015 02:30:57 +0000

Naked Brand Group (NASDAQ:NAKD), a lifestyle and fashion brand, will begin trading on the Nasdaq Friday after raising approximately $6.9 million in net proceeds in an underwritten public offering. The company priced its public offering of 1.875 million shares of common stock at a price per share to the public of $4.00, including up to 281,250 shares of common stock pursuant to the directed share program, which will result in aggregate gross proceeds of approximately $7.5 million. The net proceeds from the offering to the company, after deducting underwriting discounts and commissions, is expected to be approximately $6.9 million.

The fashion distributor has also granted the underwriters a 30-day option to purchase up to an additional 281,250 shares of common stock to cover over-allotments, if any. If the total over-allotment is exercised, Naked expects gross proceeds from the offering to be approximately $8.625 million. Subject to customary conditions, Naked expects the offering to close on or about Dec. 23, 2015. NAKD shares fell more than 4% in early trading to $3.82.

The stock decreased 0.50% or $0.02 on December 18, hitting $3.98. About 136,442 shares traded hands or 4736.65% up from the average. Naked Brand Group Inc (NASDAQ:NAKD) has declined 1.49% since May 18, 2015 and is downtrending. It has outperformed by 2.32% the S&P500.

Naked Brand Group Inc. designs, manufactures, and sells men’s innerwear, lounge apparel, and sleepwear products in the United States and Canada. It offers a range of innerwear products, including trunks, briefs, boxer briefs, undershirts, t-shirts, and lounge pants under the Naked brand name. The company sells its products to consumers and retailers through wholesale channels; and direct-to-consumer channel, which consists of an online e-commerce store, thenakedshop.com. Naked Brand Group Inc. is headquartered in New York, New York.

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Yirendai Prices IPO at $10/ADS (NYSE:YRD)

Jason Feld — Sat, 19 Dec 2015 02:20:13 +0000

Yirendai (NYSE:YRD), an online consumer finance marketplace in China, said Friday that it has priced its initial public offering of 7.5 million American depositary shares at $10 per ADS, with each ADS representing two ordinary shares of the company, for total expected gross proceeds of $75 million. The underwriters have been granted a 30-day option to purchase up to 1.1 million additional ADSs. Shares will begin trading on the New York Stock Exchange on Friday under the ticker symbol “YRD.”

The stock decreased 9.00% or $0.9 during the last trading session, hitting $9.1. Yirendai Ltd – ADR (NYSE:YRD) has risen 6.00% since November 19, 2015 and is uptrending. It has outperformed by 9.81% the S&P500.

Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in China. It offers standard, fasttrack, and vertical loan products. The company was founded in 2012 and is based in Beijing, China. Yirendai Ltd. is a subsidiary of CreditEase Holdings (Cayman) Limited.

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Voyager Therapeutics Added to Russell 2000, 3000, Global Indexes; Shares Unchanged in Pre Market (NASDAQ:VYGR)

Jason Feld — Fri, 18 Dec 2015 23:47:49 +0000

Voyager Therapeutics, Inc. (NASDAQ:VYGR), a clinical-stage gene therapy company, has been added to the Russell 2000, Russell 3000, and Russell Global Indexes as part of Russell Investments’ quarterly addition of select initial public offering companies. Voyager will join these indexes after the NASDAQ market closes on December 18, 2015. In Friday’s pre-market session, shares of Voyager Therapeutics were unchanged from their Thursday closing price of $20.69, and have a 52-week trading range of $14.75 – $30.54.

The stock increased 3.62% or $0.75 during the last trading session, hitting $21.44. About 779,243 shares traded hands or 493.93% up from the average. Voyager Therapeutics Inc (NASDAQ:VYGR) has risen 6.00% since November 19, 2015 and is uptrending. It has outperformed by 9.81% the S&P500.

Voyager Therapeutics, Inc., a clinical-stage gene therapy company, focuses on the development of treatments for patients suffering from severe diseases of the central nervous system (CNS). The company focuses in the field of adeno-associated virus gene therapy through innovation and investment in vector engineering and optimization, manufacturing, and dosing and delivery techniques. Its pipeline includes VY-AADC01, which is in Phase 1b clinical trials for treatment of ParkinsonÂ’s disease; and preclinical programs comprise VY-SOD101 for a monogenic form of amyotrophic lateral sclerosis, VY-FXN01 for FriedreichÂ’s ataxia, and VY-HTT01 for Huntington’s disease, as well as VY-SMN101 for neuromuscular disease. The company has strategic collaborations with Genzyme Corporation and the University of Massachusetts Medical School. Voyager Therapeutics, Inc. was founded in 2013 and is headquartered in Cambridge, Massachusetts.

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Mindbody Slips 1% As IPO Lockup Period Ends (NASDAQ:MB)

Jason Feld — Thu, 17 Dec 2015 17:47:14 +0000

Shares of Mindbody (NASDAQ:MB) were slipping nearly 1% on Wednesday morning as the IPO lockup period ends and approximately 30 million outstanding shares become available for sale. In June, the cloud-based provider of health and wellness facility software sold about 7.2 million shares via its IPO at $14 each, at the midpoint of the expected range of $13 to $15 a share. MB was moving in the upper half of its six month trading range of $9.14 to $18.39.

The stock is down 3.46% or $0.52 after the news, hitting $14.52 per share. About 122,538 shares traded hands. MINDBODY Inc (NASDAQ:MB) has risen 6.00% since November 17, 2015 and is uptrending. It has outperformed by 8.26% the S&P500.

MINDBODY, Inc. operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to manage class and appointment schedules, staff members, client information, online bookings, inventory, payroll, and retail sales for yoga, Pilates, barre, indoor cycling, personal training, martial arts, and dance exercise, as well as spas, salons, music instruction studios, dance studios, childrenÂ’s activity centers, and integrative health centers.

The company offers its software platform to its subscribers as a subscription-based service. It also connects consumers with businesses through its MINDBODY Connect platform, which has a mobile interface that allows consumers to discover, evaluate, book, and pay for wellness services, whether they are near their homes or traveling. MINDBODY, Inc. sells its subscriptions through a direct sales team primarily in San Luis Obispo, California; New York; London; and Sydney. The company was founded in 2001 and is headquartered in San Luis Obispo, California.

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