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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