Five new IPOs are scheduled for the week of April 29th. Two 'IPOs" already trade on secondary markets and technically are not IPOs. The full IPO calendar is here.
April 29th week IPOs ranked with largest first.
ING U.S. (NYSE:VOYA)
Based in New York, NY, ING U.S. scheduled a $1.45 billion IPO with a market capitalization of $5.8 billion at a price range mid-point of $22.50, for Wednesday, May 1, 2013.
VOYA is an investment, life insurance spin-off, carve-out of Dutch-based ING, which has a market capitalization above $30 billion. Earnings were positive in 2012, and the trailing 12 months P/E multiple is 12.5, based on the income allocated to VOYA.
QIWI plc (NASDAQ:QIWI)
Based in Cyprus with main offices in Moscow, 117587, RU, QIWI plc scheduled a $204 million IPO with a market capitalization of $884 million at a price range mid-point of $17, for Friday, May 3, 2013.
QIWI is a payment processing company with significant growth in the reloadable debit card and mobile wallet segments. The 'wallet' segment accounted for 30% of the business and grew 80% in 2012 vs 2011. The other segments grew 14% in 2012 vs 2011.
Ellington Residential Mortgage REIT (NYSE:EARN)
Based in Old Greenwich, CT, Ellington Residential Mortgage REIT scheduled a $130 million IPO with a market capitalization of $183 million at a price range mid-point of $20 for Wednesday, May 1, 2013.
EARN is a mortgage REIT. The most recent five mortgage REIT IPOs have IPO'd at book value. They are (most recent first) ZAIS Financial (NYSE:ZFC), JAVELIN Mortgage (NYSE:JMI), Western Asset Mort (NYSE:WMC), American Cap Mortage (NASDAQ:MTGE), AG Mortgage (NYSE:MITT).
Based in Plymouth, MN, BioAmber scheduled a $128 million IPO with a market capitalization of $294 million at a price range mid-point of $16, for Friday, May 3,2013. BioAmber converts renewable feedstocks into chemicals that are replacements for petroleum-derived products. BIOA generated $15 million in sales for 2012 but lost $39 million. BIOA also expects to sell 43% of itself on the IPO, which is a high percentage.
Four other companies that process renewable feedstocks to make substitutes for petroleum-based products have IPO's in the past several years: Amyris Inc (NASDAQ:AMRS), Gevo, Inc. (NASDAQ:GEVO), KiOR Inc (NASDAQ:KIOR) and Solazyme Inc (NASDAQ:SZYM).
Insys Therapeutics (NASDAQ:INSY)
Based in Chandler, AZ, Insys Therapeutics scheduled a $68 million IPO with a market capitalization of $287 million at a price range mid-point of $17, for Thursday, May 2, 2013.
INSY is a generic drug company whose products help reduce chemo and cancer pain. INSY lost $24 million in 2012 but expects to turn a profit for the March 2013 quarter on almost $11 million in sales.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: This report is based on a reading and analysis of [ticker]'s S-1 filing which can be found here, and a separate, independent analysis by IPOdesktop.com. There are no unattributed direct quotes in this article.