One IPO is expected to price this week:
Oiltanking Partners L.P. (NYSE:OILT), which provides terminaling, storage and transportation of oil and gas, 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, Oiltanking Partners will command a market value of $794 million. Oiltanking Partners, which was founded in 2011, booked $119 million in sales over the last 12 months. The Houston, Texas,-based company plans to list on the NYSE under the symbol OILT. Citi (NYSE:C), Barclays Capital (NYSE:BCS) and JP Morgan (NYSE:JPM) are the lead underwriters on the deal.
Meanwhile, two other companies set the terms of their upcoming IPOs.
Dunkin' Brands Group, a franchisor of quick service restaurants serving coffee, baked goods and ice cream, announced terms for its IPO. The Canton, Mass.,-based company, which owns the Dunkin' Donuts and Baskin-Robbins brands, plans to raise $378 million by offering 22.3 million shares at a price range of $16 to $18. At the mid-point of the proposed range, Dunkin' Brands Group would command a market value of $2.1 billion.
The company, which was founded in 1950, was purchased by Pernot Richard S.A. in 2005 and subsequently acquired by Bain Capital, Carlyle and Thomas H. Lee for $2.4 billion in 2006. Dunkin' Brands plans to list on the Nasdaq under the symbol DNKN. JP Morgan, Barclays and Morgan Stanley (NYSE:MS) are the lead underwriters on the deal.
According to the SEC filing, Dunkin' Brands holds a portfolio of more than 16,000 points of distribution in 57 countries with strong brand awareness for its breakfast, coffee and ice cream products. The company is looking to expand its presence, especially outside of its northeast U.S. base, with 39 domestic and 114 international net new store openings during the fiscal quarter ended June 25, 2011. It booked $287 million in Adjusted EBITDA on $589 million in sales in the trailing 12 months, a 9.5% increase from the $538 million in sales booked fiscal year 2009. The company plans on using proceeds from the offering to pay down outstanding notes and bolster working capital.
Also, Union Agriculture Group, one of the largest corporate agricultural landholders and operators in Uruguay with 84,670 hectares of land, announced terms for its IPO. The company's diversified agricultural operations include crops (soybeans and wheat), rice, dairy, cattle, sheep, blueberries and honey.
Union Agriculture was founded in 2008 when it acquired its cattle and sheep business, and it commenced production in its crops, rice and dairy segments in 2010. The company generated $1.6 million in sales in fiscal year 2010, an increase from $199,000 in 2009 as Union Agriculture continues to initiate and expand its agricultural operations. Union Agriculture plans to raise $200 million by offering 14.3 million shares at a price range of $13 to $15. At the mid-point of the proposed range, Union Agriculture would command a market value of $716 million.
Union Agriculture, which is partly owned by Wellington Management Company and Columbia Wanger Asset Management, plans to list on the NYSE under the symbol UAGR. Credit Suisse (NYSE:CS) and JP Morgan are the lead underwriters on the deal.