Four IPOs Pricing Tonight
And now there are four. Five IPOs were scheduled to go public tonight, but we are learning that aluminum manufacturer Aleris has postponed the pricing of its IPO, though the S-1 has not been withdrawn. (this is an update from earlier version of this post stating five IPOs were pricing)
Aleris was seeking to raise 31.3 million shares at $15-$17. No word given on why the pricing was postponed, though week demand is usually the culprit.
Of the four other companies going public, the two getting the most "buzz" seem to be two oilfield products stocks:
1) Forum Energy (FET), pricing 15.8 million share between $18-$20, and
2) MRC Global (MRC), pricing 22.7 million shares at $21-$23 (think pipes, valves, fittings for the oil industry).
Also pricing tonight: an investment management company (Oaktree Capital-OAK), and a solar thermal company (BrightSource Energy-BRSE).
Not a bad start to the year for IPOs: 46 deals have priced so far this year. This time last year, through March, there were only 33. In 2010, 29 in the first quarter, in 2009…only two.
Next week: six more, including high end bag manufacturer Tumi, along with … two cloud computing companies: Splunk and Infoblox.
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