2 IPOs on Tap This Week

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 |  Includes: RSPI, SQI
by: Renaissance Capital IPO Research

The following IPOs are expected to price this week:

CoreSite Realty Corp (NYSE:COR), a Carlyle-backed data center REIT with 11 facilities serving over 600 customers, plans to raise $270 million by offering 16.9 million shares at a price range of $15-$17. At the mid-point of the proposed range, CoreSite Realty will command a market value of $734 million. CoreSite Realty, which was founded in 2000, booked $29 million in sales last year. The Denver, CO-based company plans to list on the NYSE under the symbol COR. Citi, BofA Merrill Lynch and RBC Capital Markets are the lead underwriters on the deal.

SciQuest (NASDAQ:SQI), which provides an on-demand procurement and supplier management software platform, plans to raise $63 million by offering 6 million shares at a price range of $9.50-$11.50. At the mid-point of the proposed range, SciQuest will command a market value of $221 million. SciQuest, which was founded in 1995, booked $39 million in sales for the 12 months ended June 30. The Cary, NC-based company plans to list on the NASDAQ under the symbol SQI. Stifel Nicolaus Weisel is the lead underwriter on the deal.

Last week, there was 1 IPO pricing. SouFun Holdings Limited (NYSE:SFUN), which operates the leading ad-supported real estate website in China, ended up 73% from its IPO price.