The following IPOs are expected to price this week:
KiOR (KIOR), which is developing a platform to convert non-food biomass into fuel blendstocks, plans to raise $200 million by offering 10 million shares at a price range of $19 to $21. At the mid-point of the proposed range, KiOR will command a market value of $2.3 billion. KiOR, which was founded in 2007, plans to list on the NASDAQ under the symbol KIOR. Credit Suisse (CS), UBS Investment Bank (UBS), and Goldman, Sachs & Co. (GS) are the lead underwriters on the deal.
Pioneer Power Solutions (PPSI.OB), which sells electrical transformers to niche markets in North America, plans to raise $21 million by offering 2.3 million shares at a price range of $8 to $10. At the mid-point of the proposed range, Pioneer Power Solutions will command a market value of $68 million. Pioneer Power Solutions, which was founded in 1995, booked $55 million in sales over the last 12 months. The Fort Lee, NJ-based company plans to list on the NASDAQ under the symbol PPSI. Oppenheimer & Co. (OPY) is the lead underwriter on the deal.
Stewart & Stevenson LLC (SNS), which offers custom equipment for unconventional drilling to the oil & gas industries, plans to raise $240 million by offering 16 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Stewart & Stevenson LLC will command a market value of $1 billion. Stewart & Stevenson LLC, which was founded in 1902, booked $971 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol SNS. J.P. Morgan (JPM), Goldman, Sachs & Co. (GS), and Citi (C) are the lead underwriters on the deal.
Vanguard Health Systems (VHS), which operates 26 acute care and specialty hospitals in five US states, plans to raise $550 million by offering 25 million shares at a price range of $21 to $23. At the mid-point of the proposed range, Vanguard Health Systems will command a market value of $1.6 billion. Vanguard Health Systems, which was founded in 1997, booked $4.3 million in sales over the last 12 months. The Nashville, TN-based company plans to list on the NYSE under the symbol VHS. BofA Merrill Lynch (BAC), Barclays Capital (BCS), and Citi are the lead underwriters on the deal.
Last week, there were 4 IPO pricings. Bankrate, Inc. (RATE), which is a leading publisher, aggregator and distributor of online personal finance content, was the week's winner, ending up 2% from its IPO price.
