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IPO Outlook: 
Cynosure IPO Gains 26%
Author: Yordanka Bahchevanska
123jump.com
Last Update: 12:24 AM EST December 12 2005

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The following week is expected to be a rush with 16 deals on the calendar. The companies plan to raise about $3 billion worth IPOs during the week and that would make it the highest-volume IPO week since early August, when companies raised $3.5 billion. The companies on the calendar are in semiconductor, airlines, health care and Internet retailing industries.

 
Patni Computer Systems is a leading Indian provider of information technology services. The company offers its services through industry-focused practices, including insurance, manufacturing, financial services, and telecommunications, and through technology-focused practices.

The company’s stock ended the week at $23.58 a share, up 17% from the IPO price.

The on-demand software provider Vocus Inc. (VOCS: chart) priced 5 million shares at $9 per share on Wednesday. The price was at the low end of the $9 - $11 filing range.

The underwriters have been granted a 30-day option to purchase up to 750,000 additional shares from certain selling stockholders to cover over- allotments.

Thomas Weisel was the lead manager and RBC Capital Markets was co-lead manager. Wachovia Securities and William Blair were co-managers on the deal.

Vocus is a leading provider of on-demand software for corporate communications and public relations. The company is based in Lanham, Meryland with offices in North America and Europe.

The stock closed the first day of trading at $10, and ended the week at $10.16, up 12% from the offering price.

WiderThan Co. Ltd. (WTHN: chart) priced 6 million American depositary shares at $12 per share on Friday, well below the $14 - $16 filing range. Each American depositary share represents one common share. The deal was worth $72 million.

The offering consisted of 4 million shares offered by WiderThan and 2 million shares offered by selling shareholders.

The company has granted the underwriters a 30-day option to purchase up to 900,000 additional shares to cover excess demand.

J.P. Morgan and Merrill Lynch were the lead managers and Lehman Brothers acted as joint lead manager.

The South Korea-based company is a leading provider of integrated mobile entertainment solutions for wireless carriers. WiderThan currently provides mobile entertainment solutions to 42 wireless carriers in 17 countries. Shareholders in the company included SK Telecom, Nokia Venture Partners (NOK: chart) and i-Hatch Ventures.

The shares closed flat at $12 Friday, after trading as high as $14.50 earlier in the day.

IPO CALENDAR – week of December 12th

Image sensor designer PixelPlus (PXPL: chart) plans to offer 4.5 million American depository shares within a price range of $12.50-$14.50 a share, in a bid to raise $60.8 million. Jefferies Broadview and W.R. Hambrecht wiil be the underwriters on the deal.

Bank holding company Capital South Bancorp (CAPB: chart) intends to offer 600,000 shares within a price range of $18-$20 a share, in a bid to raise $13.8 million. Stern, Agee & Leach will underwrite the deal.

Software provider DealerTrack (TRAK: chart) plans to offer 10.0 million shares within a price range of $14-$16 per share, in a bid to raise $184 million. Insiders intend to offer 3.3 million shares. J.P. Morgan and Lehman Brothers will be the lead managers on the deal.

Wireless network designer IDT Spectrum (GIGZ: chart) plans to will offer 4.2 million shares within a price range of $11-$13 a share, in a bid to raise $62.3 million. WR Hambrecht will underwrite the deal using a Dutch auction style.

Digital video specialist Scopus Video Networks (SCOP: chart) plans to offer 4.5 million shares within a price range of $10-$12 a share, in a bid to raise $62 million. Thomas Weisel and CIBC World Markets will be the underwriters on the deal.

Drug developer Voyager Pharmaceutical (VYGR: chart) plans to offer 4.5 million shares within a price range of $11 - $15 a share, in a bid to raise $77.6 million. The company cut its offering size and price range by 24% last week. WR Hambrecht will manage a Dutch auction style IPO.

Solar energy firm SunTech Power Holdings (STP: chart) plans to offer 26.4 million American depositary shares within a price range of $11-$13, in a bid to raise $394.4 million. CS First Boston will act as the lead manager on the deal.

E-commerce provider Buy.com (BUYY: chart) intends to offer 4.2 million shares within a price range of $11-$13 per share, in a bid to raise $62.3 million. Thomas Weisel heads the group of underwriters on the deal.

Latin American airline Copa Holdings (CPA: chart) plans to offer 14.0 million shares within a price range of $15-$17 a share, in a bid to raise $273.7 million. Morgan Stanley and Goldman Sachs will be the managers on the deal.

Drug developer Somaxon Pharmaceuticals (SOMX: chart) plans to offer 5.0 million shares within a price range of $13-$15 a share, in a bid to raise $86.3 million. Morgan Stanley, J.P. Morgan, Piper Jaffray and Thomas Weisel will underwrite the deal.
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