July U.S. IPO Calendar Heats Up As 10 Deals Set Terms At Beginning Of Week

by: Renaissance Capital IPO Research

The U.S. IPO calendar is heating up for the end of July, with 10 deals setting terms so far this week. The largest deals come from NRG Yield (NYSE:NYLD) [$392 million deal size], a company formed to operate certain infrastructure assets of NRG Energy, one of the largest power generation and retail electricity businesses in the U.S., Graña y Montero (NYSE:GRAM-OLD) [$350], the largest engineering and construction company in Peru, and Diamond Resorts International (NYSE:DRII) [$264], a vacation club with more than 490,000 members and 295 destinations. And, after a strong second quarter for biotech IPOs (16 deals; 36% average return), two more, OncoMed Pharmaceuticals (NASDAQ:OMED) and Conatus Pharmaceuticals (NASDAQ:CNAT), launched this week.

Other notable deals that set terms this week include RetailMeNot (NASDAQ:SALE), which operates the world's largest digital coupon marketplace, Rexford Industrial Realty (NYSE:REXR), an industrial property REIT in California, and UCP, a California homebuilder. All ten deals are scheduled to price by the end of July.

IPOs setting terms (week of July 8, 2013)
Company (Ticker) Business Deal Size ($mm) LTM Sales ($mm)
NRG Yield Energy infrastructure assets $392 $184
Graña y Montero Peru-based E&C company $350 $2,086
Diamond Resorts Int'l Vacation club $264 $568
Rexford Industrial Realty Industrial properties REIT $224 $35
RetailMeNot Digital coupon marketplace $191 $156
UCP California homebuilder $124 $66
OncoMed Pharmaceuticals Cancer treatment biotech $60 $25
Conatus Pharmaceuticals Liver disease biotech $55 $0
Liquid Holdings Group (LIQD) Financial services software $50 $4
Cellular Dynamics Int'l (NASDAQ:ICEL) Human cell manufacturer $50 $8