Seeking Alpha
Research analyst, IPOs, long/short equity
Profile| Send Message|
( followers)  

The following IPOs are expected to price this week:

China Power Technology (CNPT), which manufactures and installs energy-efficient industrial boilers in China, plans to raise $30 million by offering 2.3 million shares at a price range of $12 to $14. At the mid-point of the proposed range, China Power Technology will command a market value of $172 million. China Power Technology, which was founded in 1997, booked $93 million in sales over the last 12 months. The Kaifeng City-based company plans to list on the NASDAQ under the symbol CNPT. Rodman & Renshaw is the lead underwriter on the deal.

ServiceSource International (NASDAQ:SREV), which provides a service revenue management and renewals platform for tech firms, plans to raise $99 million by offering 11.9 million shares at a price range of $7.50 to $9.00. At the mid-point of the proposed range, ServiceSource International will command a market value of $611 million. ServiceSource International, which was founded in 1999, booked $153 million in sales over the last 12 months. The San Francisco, CA-based company plans to list on the NASDAQ under the symbol SREV. Morgan Stanley and Deutsche Bank Securities are the lead underwriters on the deal.

Tranzyme (TZYM), which is developing small molecule therapeutics to treat gastrointestinal disorders, plans to raise $60 million by offering 5 million shares at a price range of $11 to $13. At the mid-point of the proposed range, Tranzyme will command a market value of $182.51 million. Tranzyme, which was founded in 1998, booked $9 million in sales over the last 12 months. The Durham, NC-based company plans to list on the NASDAQ under the symbol TZYM. Citi is the lead underwriter on the deal.

Last week, there was 1 IPO pricing. Cornerstone OnDemand (NASDAQ:CSOD), a global provider of on-demand talent management software, ended up 40% from its IPO price.

Source: 3 IPOs Planned for This Week