Biggest US IPO of 2010 This Week?
While everyone is watching the IPO of Agricultural Bank of China tonight, another fairly large IPO is set to price in the US this week: Smart Technologies, a Canadian company, is set to price 35.3 million shares at $16-$18 on the Nasdaq on Thursday; at the midpoint that would bring in about $600 million.
That would be the the biggest US IPO of the year. Sensata Technologies raised $568.8 million in March; OAS Petroleum raised $588 million just last month.
SMA makes "interactive technology products" including interactive whiteboards, which allows the placement of shared files on a "whiteboard" that lets users mark up the board.
Intel owns roughly 26 percent of the outstanding stock; Apax Partners owns 51.4 percent, so there is a heavy private equity component. 75 percent of what is being sold is coming from shareholders (the insider cost is $2.70!).
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