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Summary

  • The current IPO schedule is positioned to clear the calendar by Memorial Day.
  • JD.com is the most important deal as it will lay a foundation for the much-anticipated Alibaba IPO.
  • Parsley is a sizable deal in the energy space that serves as the other "anchor" for the week.

The IPO market continues to move along, albeit in a slightly lower gear. This week we start with seven companies in active marketing and hoping to price before the holiday weekend. After Memorial Day, we will be in the often tepid Summer IPO market, but the period from June to mid-August can be productive, especially if Q2 reports are stronger than what we had in Q1. As an aside, this is a mid-term election year which probably adds to the risk that we see an IPO slowdown this Summer. As usual with markets, nothing is certain.

Here are the deals pending for this week with brief descriptions. The most watched is definitely JD.com (NASDAQ:JD) which owns a slice of the much-ballyhooed Alibaba (ABABA), which has filed for their own big IPO, slated to enrich Yahoo (NASDAQ:YHOO) in the process as well.

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21st Century Oncology (ICC) provides radiation therapy services for cancer patients.

Agile Therapeutics (AGRX) is developing Twirla, a once-weekly contraceptive patch, which is in Phase III clinical development. The company is also developing a pipeline of other new transdermal contraceptive products, including AG200-ER, a regimen that allows a woman to extend the length of her cycle; AG200-SP, a 28-day regimen, which provides a shortened hormone-free interval; and AG890, a levonorgestrel-only contraceptive patch for use by women who are unable or unwilling to take estrogen.

First Foundation (FFWM) offers a range of consumer banking services, various specialized services and investment portfolio management and financial planning services. First Foundation offers education, instruction, and consultation on financial planning and management matters, as well as Internet-based data processing administrative support services, which include processing and transmission of financial and economic data for charitable organizations.

Heritage Insurance (HRTG) is a property and casualty insurance holding company in Florida. It provides personal residential insurance for single-family homeowners and condominium owners through a network of independent agents.

JD.com is based in China and offers electronics products; and general merchandise products, including audio and video products, and books. JD.com also provides an online marketplace for third-party sellers to sell products to customers through its website and mobile applications; and services, such as online advertising, transaction processing, and Internet financing, as well as a suite of value-added fulfillment and other services for third-party sellers on its online marketplace.

Parsley Energy (PE) is engaged in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties located primarily in the Permian Basin region of West Texas. Parsley Energy has estimated proved oil and natural gas reserves were 54.8 million barrels of oil equivalent.

SunEdison Semiconductor (SEMI) provides polished wafers for memory, analog, radio frequency (RF) devices, digital signal processors, and power devices applications; EPI wafers that increase the reliability and decrease the power consumption of semiconductor devices for mobile device and cloud infrastructure applications; and SOI wafers, which enhance switching speeds and the performance of RF devices, such as power amplifiers, switches, and sensors. It also sells intermediate products consisting of polysilicon, TCS gas, ingots, and scrap wafers to semiconductor device and equipment makers.

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 (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Source: IPO Market Update