Three IPOs on Deck: Dole, AGA Medical and ZST Digital Network

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 |  Includes: CRIC, RA, ZSTN
by: Renaissance Capital IPO Research

Three IPOs are planned for the week of October 19th.

AGA Medical Holdings (AGAM), which makes minimally invasive devices to treat heart defects and vascular diseases, plans to raise $275 million by offering 13,750,000 at a price range of $19.00 to $21.00. At the mid-point of the proposed range, AGA Medical Holdings will command a market value of $989.57 million. AGA Medical Holdings, which was founded in 1995, booked $180 million in sales over the last 12 months. The Plymouth, MN-based company plans to list on the NASDAQ under the symbol AGAM. BofA Merrill Lynch (NYSE:BAC), Citi (NYSE:C), and Deutsche Bank (NYSE:DB) are the lead underwriters on the deal.

Dole Food Company (DOLE), a leading global branded fruit and vegetable company, plans to raise $500 million by offering 35,715,000 at a price range of $13.00 to $15.00. At the mid-point of the proposed range, Dole Food Company will command a market value of $1.2 billion. Dole Food Company, which was founded in 1851, booked $7.2 billion in sales over the last 12 months. The Westlake Village, CA-based company plans to list on the NYSE under the symbol DOLE. Goldman Sachs (NYSE:GS), BofA Merrill Lynch, and Deutsche Bank are the lead underwriters on the deal.

ZST Digital Networks (NASDAQ:ZSTN), a reverse-merger listing of a Chinese TV set-top box provider, plans to raise $25 million by offering 3,125,000 at a price range of $7.50 to $8.50. At the mid-point of the proposed range, ZST Digital Networks will command a market value of $91.84 million. ZST Digital Networks, which was founded in 2006, booked $71 million in sales over the last 12 months. The Zhengzhou ,China-based company plans to list on the NASDAQ under the symbol ZSTN. Rodman & Renshaw is the lead underwriters on the deal. ZST Digital was orginally scheduled for last week, but moved its offering into this week.

The two IPOs that priced last week had mixed performance. RailAmerica (NYSE:RA), an owner/operator of short line freight railroads in North America, raised $330 million by offering 22 million shares at $15. The stock closed below its offer price on the first day, but has rebounded slightly since then. China Real Estate Information (NASDAQ:CRIC), an e-House China spin-off of its real estate information and consulting business, raised $216 million by offering 18,000,000 ADRs at $12.00. CRIC rose over 18% on its first day of trading and continues to climb.