The maker of industrial cloth and roll cover products for printing Xerium Technologies (XRM: chart) priced 13.4 million shares at $12 a share.

Xerium Technologies appeared on the IPO calendar for the first week of May with planned terms of 16.4 million shares at $18 to $20 each in a bid to raise about $312 million.

On May 5, Xerium slashed the price to $14-$16 a share and discounted the size of the deal to 13.9 million shares.

Last week, Xerium decreased the size of the deal again to 10.8 million, only to lift it back to 13.4 million shares, but then stated the IPO would likely price at $12.

Citi Trends (CTRN: chart) operator of 212 stores in 12 states priced atop of its $12-$14 range. The IPO opened at $16.95, well above its $14 price. The stock closed up $1.70 at $15.70 on its first trading day.

The retailer of discount-priced urban fashions raised $54 million by offering 3.85 million of its stock. The lead underwriters on the deal were CIBC World Markets, Piper Jaffray, SG Cowen and Wachovia.


A total of 5 IPOs are scheduled to price the week of May 23, 2005:

Computer services provider Rackable Systems (RACK: chart) will be offering 6.25 million shares within a price range of $11 to $13 in a bid to raise $265 million. The underwriters for the deal are Lehman Brothers, Thomas Weisel and Piper Jaffray.

Enterprise software applications provider SSA Global Technologies (SSAG: chart), will offer 14.3 million shares within a price range of $13 to $15. JPMorgan and Citigroup are at present the joint book-running managers for the deal. Previously, Goldman Sachs was the lead manager.

Petroleum products terminaling and pipeline company TransMontaigne Partners (TLP: chart), plans to offer 3.35 million shares at a price range of $19.40 to $21.40. The company also plans to issue $1.60 per unit in distributions, yielding 7.8% at the midpoint of the proposed price range. UBS Investment Bank is the lead underwriter on the deal.

DiamondRock Hospitality (DRH: chart), a real estate investment trust, plans to offer approximately 26 million shares within a proposed price range of $10.50 to $12.50 in a bid to raise a $555 million market cap. Underwriters on the IPO are Citigroup and Friedman Billings Ramsey.

Data provider IHS Inc. (IHS: chart) said it will be offering 5.325 million shares and selling shareholders Urvanos Investments Limited and Urpasis Investments Limited plan to offer 10.0 million shares (16.325 million shares total) within a proposed price range of $14.50 to $16.50 a share. The lead underwriters on the deal are Goldman Sachs, Citigroup, Morgan Stanley and Piper Jaffray.

27 IPOs have been filed in May. A total of 108 IPOs have been filed so far in 2005 but have not been priced yet.

67 IPOs have been priced so far in 2005.