Established 1999
123jump.com - U.S. Financial Information Archive: 90,000 Annual and 10-K reports – 20,000 Global news stories - 3,500 IPO reports - 1,700 - Earnings Calls – 320 Fund Interviews – 10-year Annual earnings on 4,500 stocks – 20 Quarterly earnings on 3,600 stocks – 1,800 IPO prospectuses – 1,200 Economic data releases
     
   
 
IPO Outlook: 
Home Inns Opens Up 72%
Author: Yordanka Bahchevanska
123jump.com
Last Update: 5:26 PM EST October 30 2006

Chinese hotel chain Home Inns & Hotel Management raised $102 million after pricing at $13.80 a share in the second best IPO of the year. REIT Douglas Emmett and publisher GateHouse Media also made good gains at start. Four IPOs are in the calendar for the next week, and three of them will be launched by telecommunication service providers. A hundred and sixty five companies priced shares so far in 2006, and 59% of them are currently trading above their offering price.

 
165 initial public offerings have been priced so far this year as of Oct. 27, 2006:

- 97 IPOs are currently trading above initial offering price;
- 65 are trading below the offering price;
- and 3 are trading at their offer price.

Seven IPOs were priced during the week of October 23th, 2006. There are four deals on deck for the next week hoping to raise nearly $520 million.

IPO PERFORMANCE

ADVANCERS:

Shares of China-based hotel chain Home Inns & Hotel Management Inc. (HMIN: chart) jumped 72% on their first day of trading Thursday.

Home Inns raised more than $109 million with an offering of 7.9 million American Depositary Shares, almost 25% stake in the company, priced at $13.80 each, well above the forecast range of $10 to $12. Each ADS represents two ordinary shares

This first day performance was the second best of the year, right after the 100% surge from Chipotle Mexican Grill Inc. (CMG: chart) in January.

Credit Suisse and Merrill Lynch were the lead underwriters in the IPO.

Of all the shares offered, 4.9 million were sold by Home Inns, and 3 million were sold by certain shareholders, including Sycamore Management Corp. and International Data Group Inc.

In addition, the company and the selling shareholders have granted the underwriters a 30-day option to buy up to 1.2 million shares to cover over-allotments.

Home Inns & Hotels Management is a leading hotel chain in China, based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain.

The company’s shares ended the week at $25.44 per share, up 84% from the IPO price.

Shares of the newspaper publisher GateHouse Media Inc. (GHS: chart) gained 20% on their first day of trading Wednesday.

The company raised $248 million with an offering of 13.8 million shares, increased from the original 11.5 million shares, priced at the high end of the $16 to $18 forecast range.

The offering represents almost 40% stake in the company.

Goldman Sachs and Wachovia Securities were the lead underwriters on the deal.

The underwriters have an option to purchase up to 1.73 million additional shares to cover over-allotments.

GateHouse Media has a portfolio of 423 community publications and more than 230 related web sites.

The company’s shares ended the week at $22 per share, up 22.2% from the IPO price.

Real estate investment trust Douglas Emmett Inc. (DEI: chart) on Monday raised nearly $1.4 billion. The company priced its offering of 66 million shares at $21 per share, at the top of the $19 to $21 forecast range.

The underwriters had an option to buy 9.9 million additional shares to cover over-allotments, which was exercised in full at the end of the week.
  1  2  3

 
 
© 1999-2008 123jump.com. All rights reserved