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IPO Outlook: 
Heritage-Crystal Raises $22 Million
Author: Yordanka Bahchevanska
123jump.com
Last Update: 4:18 PM EDT March 17 2008



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Only one new IPO was launched during the past week. Heritage-Crystal priced within the expectations and traded well above their offering price. There are three deals scheduled to be priced the following week, including the highly expected Visa IPO.

 
Fifteen initial public offerings have been priced so far in 2008, as of 14th March.

IPO PERFORMANCE

Heritage-Crystal Clean (HCCI: chart) raised $22 million with an initial public offering of 1.9 million shares that priced at $11.50 a share, the middle of a forecast range about $10.50 - $12.50.

William Blair and Piper Jaffray have the option to buy 287,100 additional shares to any excess demand.

The company provides industrial- and hazardous-waste services.

The shares ended the week at $13.56 a share, up %18 from the offering price.

IPO CALENDAR – week of March 17th

The leading credit and debit card provider Visa (V: chart) plans to offer as much as 406 million shares within a price range of $37 to $42 a share, in a bid to raise $18.7 billion. J.P. Morgan, Goldman Sachs and Banc of America will manage the deal.

Medical device company Cardionet (BEAT: chart) plans to offer 6.6 million shares, including 3.6 million from insiders, within a price range of $22 to $24, in a bid to raise $182 million. Citi will be the lead underwriter on the deal.

Private aviation services company Pogo Jet (POGO: chart) plans to offer 7 million shares within a price range of $12.50 to $16.50, in a bid to raise $133 million. WR Hambrecht will be the lead underwriter on the deal.
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