3 IPOs Planned for This Week

|
 |  Includes: BORN, NRE-OLD, WLS
by: Renaissance Capital IPO Research

The following IPOs are expected to price this week:

China New Borun (NYSE:BORN), which is leading producer of corn-based alcohol mostly for baijiu liquor in China, plans to raise $72 million by offering 5,500,000 at a price range of $12.00 to $14.00. At the mid-point of the proposed range, China New Borun will command a market value of $331.50 million. China New Borun, which was founded in 2000, booked $115 million in sales over the last 12 months. The Shandong ,China-based company plans to list on the NYSE under the symbol BORN. Piper Jaffray (NYSE:PJC) are the lead underwriters on the deal.

Nobao Renewable Energy Holdings (NRE-OLD), which provides ground source heat pumps used to heat and cool Chinese commercial buildings, plans to raise $162 million by offering 18,000,000 at a price range of $8.00 to $10.00. At the mid-point of the proposed range, Nobao Renewable Energy Holdings will command a market value of $830.70 million. Nobao Renewable Energy Holdings, which was founded in 2005, booked $24 million in sales over the last 12 months. The Shanghai ,China-based company plans to list on the NYSE under the symbol NRE. UBS Investment Bank (NYSE:UBS), Citi (NYSE:C) are the lead underwriters on the deal.

Welsh Property Trust (WLS)
, a central US-focused REIT with a portfolio of 80 industrial and 8 office properties, plans to raise $350 million by offering 17,500,000 at a price range of $19.00 to $21.00. At the mid-point of the proposed range, Welsh Property Trust will command a market value of $558.66 million. Welsh Property Trust, which was founded in 1977, booked $156 million in sales over the last 12 months. The Minnetonka, MN-based company plans to list on the NYSE under the symbol WLS. UBS Investment Bank, J.P. Morgan (NYSE:JPM) are the lead underwriters on the deal. Please note: *Financial data pro forma for purchase of acquisition portfolio.

Last week, there were 1 IPO pricings. None of last week's IPOs ended in positive territory. GenMark Diagnostics (NASDAQ:GNMK), which offers a molecular diagnostics testing system to hospitals and labs, was the best of the group, ending the week down 0% from its IPO price.