http:/twitter.com/IPOdesktop
Gaskins
on GM's IPO
Bloomberg
TV
GM
IPO -- 50% loss
on government's investment?
Preliminary IPOreport
Thurs, Aug 12
+67% Make
My Trip quote
. Largest online travel company in India
. Mission: become India’s dominant travel company
. Profitable in the Sept 09 & Dec 09 quarters
+28% RealPage
IPOreport quote
Priced down 21% at $11
DLC Realty IPOreport
Overpriced Reit postponed
fyi.............................
AVTC: Interview
Reveals New Line-up of Automated Retailing Machines
CBAI: Details Six
Months of Success
fyi.............................
Trading Wed, Aug 11
-9.5% MediaMind Tech (MDMD)
IPOreport quote
Priced down 23%
Traded Friday, Agu 6
-10%
NXP Semicndtr quote
IPOreport Priced down 28%
-6% Intralink
quote
IPOreport
Priced down at 13%
Traded, Aug 5
-2% Gordmans IPOreport
Priced down 21% quote
Infinite
return for PE sponsors
-7% Ambow IPOreport quote
Priced at range bottom
Traded, Aug 3
+0% Trius (TSRX) quote
Market cap cut by 46%,
pre-IPO
Traded July 29
+9.05% CHKM IPOreport quote
Priced at
$21, range top
+10% ENV IPOreport quote
Priced down 30%, size cut
-11.86% MCP
IPOreport
quote
Priced below range
fyi.............................
AVTC: Interview
Reveals New Line-up of Automated Retailing Machines
CBAI: Details Six
Months of Success
fyi.............................
Traded July 22
+22% Green
Dot quote IPOreport
Traded July
16:
25% RealD
quote
IPOreport
+25% QLIK
quote IPO at
$10 IPOreport
Traded, July 15: -3% Smart
Tech (SMT) quote 51 times earnings? -- IPOreport
KKR (KKR),
not an IPO
quote
AVTC: Analyst
reported updated with new price target
CBAI: New
interview: sponsors accredited continuing ed for nurses
IPOdesktop
is looking for a few good companies read more
...get
latest
>>>
How did ZZ's private
equity
sponsors make $1 billion & cash out?
FYI: "An email IR-PR lesson"
Archived IPOreports
Traded July
14
-1% Oxford Partners quote
IPOreport
IPO'd June 29, Tues
+17%Tesla (TSLA) quote
IPOreport
adj
for IPO price
> Bloomberg
TV, June 29
> CNBC,
Tesla & the IPO market, June 28
June 27
+12% AutoNavi (AMAP)i IPOreport
quote
June
14wk
-6.7%
Motricity quote
price cut 33% from range mid-point, size reduced by
40% Motricity IPOreport
+29% Higher
One (ONE)
IPOreport
quote
priced 25% below expected mid-range
+9% Oasis
Petro IPOreport
quote
-8%
BSFT
quote Broadsoft IPOreport
+0% CBOE quote
May be able to get a competitive
bidding auction going, post IPO. IPOreport
----------------------
Traded
June 11
-10% quote China
New Borun (BORN) priced at $7: 46% below expected
mid-range IPOreport
----------------------
June 1wk -- two
IPOs pullled
Nobao IPOreport
Welsh Property Trust IPOreport
----------------------
May 24th wk
33% haircut from price range mid-point, Prices at $6
-16% GenMark
IPOreport quote
Mirion
overpriced & postponed
May17th
wk -- IPOreports
+12% after
20% price cut
Accretive Health quote
+13%
after
28% price cut
ReachLocal quote
----------------------
May 10th week -- IPOreports
-4% Express (EXPR)
-9% Niska Gas Storage (NKA)
Noranda's price
adjustment makes
price-to-book
value plummet from 13.9 to –5.1
----------------------
May 3rd wk -- IPOreports
> Americold
not
good
for
investors
> Charm Comm
China tv ad
agency
> MIE China
oil/gas, overpriced
> Smile
looks good but isn't
----------------------
April 26th wk --
IPOreports
+9% PAA Nat
Gas
-2% Alpha
& Omega
----------------------
April 19th wk --
IPOreports
+14% SPSC
+0% DynaVox
-12% Mitel
8 for 4-19wk
-- Valuation ratios
Big IPO winners
Primerica ,
March
31
+61% IPOreport
Financial Eng, March 15
+40% IPOreport
China Lodging, March 25
+35%
IPOreport
Other IPOreports
Chatham
Lodging, April 16
-2% IPOreport
Metals USA, April 9
-9%
IPOreport
Meru Netwrks, March 30
+17% IPOreport
SS&C, March 30
+7% IPOreport
Earlier IPOreports
> Sensata
QuinStreet
> Graham
Pack Generac
Symetra
|
Television
> GM's
IPO Bloomberg Aug 18
> Tesla
Bloomberg, June 29
> CNBC,
Tesla & the IPO market, June 28
> TheStreet.com
videos, use this link
http://bit.ly/a4EMaK
> CNBC
Closing Bell, Private Equity IPOs, April 9
> KKR files for a
$2bb US listing
– BloombergTV, March 12
> BloombergTV:
Social Networking
>Fox Bus
NewsTV: China
IPOs
> BloombergTV
interview
Skype-hype & the IPO Market
Press
Skype "A success story with Skype will put the spotlight back on
the tech sector." Reuters
Sept 3
"First Trust ETF (is) a
less-than-appealing investment for the investor targeting true IPO
gains." Globe
& Mail Sept 2
"If IPO hopefuls encounter
softness in their business, it will hurt
demand for their shares." USA Today Aug 27
"Endocyte is
desperate for money. Investors aren’t going to bail out the
(current) shareholders." Cinn Biz Journal Aug
27
"Full Circle would
struggle to price at the high end of its $8 per share to $10 per share
offering range." SNL Financial Aug 26
Bramble Savings Bank: "Doesn’t
sound like a very good potential investment" Biz Courier of Cincinnati, Aug 20
GM: "Gaskins
not wowed by General Motors’
IPO" BizCoach
Aug 19
GM: "Steven
Rattner, the former head of President Barack Obama's automotive task
force, Rebecca Lindland, an analyst at IHS Automotive, Francis Gaskins,
president of IPOdesktop.com, and Jeremy Anwyl, chief executive officer
of Edmunds.com, talk about today's filing" Bloomberg
Aug 18
GM: "Looks like GM should be worth
no more than Ford." Wall
Street Journal Aug 18
GM "it's likely
that taxpayers will get back only about half their $50 billion
investment in GM when the U.S. government sells it's 60.8%" Aug
18 USA Today
MakeMyTrip: "There's
a taste for companies that will dominate a possible
niche" August 12 ABC News
"RealPage priced
it lower so there would be enough demand to bring shares back up" August 12
"Intralinks interest
payments are a large uncontrollable fixed expense. It's not
healthy. It's a metric showing that the private equity people
were desperate to pay back their debt."
August 6
"NXP is s big
company and it's branded but the competition is intense and it's time
for them to make money. "The NXP IPO casts another negative pall
on leveraged buyout
offerings." August
6
"Intralinks
can't make an operating profit with a 22%-plus market share?" August 4 Wall
Street Journal
"Weakness in the hotel industry will make it
difficult for Clearview to
bring its offering to market" July
30 Business Courrierr of Cincinnati
"Chesapeake
is a good deal and there's an easy comparison out there." July 29
"Molycorp has to spend half a
billion dollars over two years to get there and it may or may not come
in on budget in that time frame" July
23
"Green Dot advances 22% after IPO
raises $164 Million" July
22 LA Times
"Green Dot has a lock on the big retailers" July
22 Reuters
"Green Dot has an advantage
among equity investors because most of its direct competitors are
privately held" July
22 Bloomberg
Green Dot “Based on the midpoint of
that range, Green Dot has an adusted price-to-earnings ratio of
38. Visa
(V.N) has a price-to-earnings ratio of 22, but is a more mature and
branded company” July 16
Ocado: online grocer in the UK "What 'strains credibility'
is that, by July 2011, Waitrose will be able to compete in an area that
represented 50% of Ocado's gross sales in fiscal year 2009 -- the
Greater London area. " July
15 Marketwatch
KKR "I don't think people are lining
up to buy KKR at this time;
the bloom is off the rose." July 15 ABCNews
Smarttech "One of
the big concerns is whether Smart can continue to grow market share and
earnings fast enough to justify a price-to-earnings multiple estimated
at 51x" July
15 Financial Post
Oxford Partners "It's not clear they
can make the dividend payments. The cash flow assumptions are
aggressive." July
14 Reuers
“IPO
companies that generate good fundamentals in a recession are definitely
worth a look” July
12, Kiplinger
RealD "The
3D market is an embryonic
growth market right now. If you get in early with a company that
dominates the segment, you could do well." July 8
Reuters
Portrait Innovations “They’ve
done well the past 18 to 24 months, even through the recession.
That’s important because you have to perform before you can IPO" July
8 Charlotte Business Journal
"Tesla
brought in people who wouldn’t normally invest, a lot of inexperienced
I.P.O. buyers.” July
1 New York Times
"AutoNavi
-- with a price-to-book ratio of 3.1 -- is richly valued compared with
some competitors." June 25
Reuters
"Telsa
(the electric carmaker) would be one of the few exciting IPOs of the
year. " June
15 Reuters
"Underwriters
are hungry to bring deals out. This is a
deal-by-deal IPO market." June
15, USA TODAY
"Well-known IPOs often attract retail
investors, who can personally identify with the companies."
June
15 CNBC
""Where there's high
volatility, the exchanges like CBOE
do well." June
15, USA TODAY
"CBOE is a late
comer to the
IPO market, the segment isn't acting well, business is flat (except for
May, 2010)." June
15 Investors.com
"CBOE is expected to have a smaller
market capitalization than its rivals, making CBOE a potential acquisition
target." June
14 AP
“If CBOE shares sold for $28
to initial
investors, the middle of the expected range, that would make the
exchange's stock more expensive than that of its rivals.” June
14 Wash Post
General
Motors IPO: "If the global economy is still uncertain it's going
to make pricing of the GM IPO
more difficult." June 11
Reuters
“China New Borun is
a way to
play growth in China from a profitable company that's not
leveraged." June 4
Reuters
“LPL Financial can get done,
but it will depend on pricing. They have a brand name and they
are profitable." June
4 Interactive Investor
"Nobao has a
low-tech business and no established history of successful
manufacturing." June
1, New York Times
"Accretive Health's relatively
low offering price did allow the company's shares to jump 13 percent in
their first day of trading." May 28
Reuters
"Mirion
was seeking a premium of more than twice the median valuation of
electronic measuring device producers" May
27 Business Week
At $25 CBOE
would have a trailing price earnings ratio “of about 28, lower than
NYSE Euronext (NYX.N) but higher than Nasdaq OMX (NDAQ.O),
IntercontinentalExchange Inc (ICE.N) and Chicago Mercantile Exchange
parent CME Group Inc (CME.O). If the stock market were in a bull
market CBOE could get away
with (a high valuation), but it's not." May 21
Reuters
At the original IPO midpoint price,
Accretive Health was valued at 12.3 times its net assets." May
19 Business Week
"HCA
is trying to ride a wave of
enthusiasm for health care stocks," May
7 Washington
Post
Two China IPOs: “Worried about Charm’s
future revenue growth,
because the (primary) contract expires in 2011. MIE could be pricier than dominant
Chinese oil firms like PetroChina and Sinopec Shanghai Petrochemical
Co.” May
3, AP
“MIE
is looking for a rich valuation. Has a price-to-book value of 2.6,
compared with 1.9 for rival ROC Oil Co Ltd (ROC.AX). Larger competitors
PetroChina and Sinopec come in at 1.7 and 1.3, respectively.” April 30
Reuters
“Alpha
and Omega’s gross margins were low for a chip company.
"Material weakness" in its accounting may have spooked investors.” April 29
ABC News
"SPC Commerce
seems
expensive but most successful pay-as-you-go software-as-a-service
companies with recurring revenues always seem 'expensive,'" April
22 INVESTOR'S BUSINESS DAILY
"Weakness in the pricing indicates underwriters bringing the IPOs to
market are overestimating investors' enthusiasm," April
22 USA TODAY
"Competition from big-name firms, as well as a wave of
consolidation, poses a significant threat to Mitel," April
21 theGlobeandMail
“8 IPOs this week. They're going to be competing for
mind-share," April
19 CBSnews
"Mitel is overpriced.
The last three quarters were flat and they barely made money in January
if you back out the non-recurring adjustments." April 16
Reuters
"There is an existing public company with better gross margins
and price-to-book ratios than Metals
USA, and that is Reliance Steel & Aluminum. Anyone who
wants to participate in expected growth in the sector could do better
owning Reliance." April
10 WSJ
"Metals USA competitor
Reliance
Steel & Aluminum Co. was a 'better buy' for investors because it is
more profitable." April
9 CBS News
"Right now (April 1) , these IPO companies are leaving money on the
table, and
that's like honey to bees.
"This (Primerica) is the first
time I've seen a private equity firm make a big commitment at the
public IPO price. Normally, they get sweetheart deals and public
be damned. All investors needed to know for this deal was that they
were paying the same as Warburg Pincus."" April
1 Business Wk Singapore
Press
"But Primerica still sold at a
price-to-book value discount to Ameriprise Financial ,
MetLife and Prudential Financial , which it identified in
its prospectus as competitors" April 1
ABC News
"Meru is in a rapidly growing
market and their last two quarters have
been profitable, pre-tax and pre-interest" March 31
The IPO investor
can get in on Primerica with
the same terms as Warburg. There appears little, if any, risk in this
IPO at $13.” March
30, Business Wk
"Warburg Pincus has put the Primerica
Citi spinoff together and they expect to make money. If people buy at
the IPO price they'll be buying right along with Warburg's price"
March
26 Reuters
“Telegent’s IPO may command a
market value of $1.2 billion in its IPO,
and at that price, its price-to-sales ratio would be about half of
MaxLinear’s” March
24, Bloomberg
"The IPO window has opened again. The four recent successes may
mean the deepest discounts on IPOs are finished for now as investors
eye projected growth rather than a company's most recent results." March
24 msn.com
"Investor psychology has changed all of a sudden. It's not just pricing
that's improved, it's the aftermarket activity.” March
24 WSJournal
“If Alma Maritime & Scorpio Tankers price at the
midpoint of their expected ranges this week and next, they will have a
9 percent and 17 percent premium to their respective tangible book
values” March
24
“Gaskins expects the China Lodging
IPO to do well.” March 19
Reuters
"Investors are becoming less critical because the crash is further
behind us. People need to invest their money and the stock market is
up." March
19 Business Week
"Companies that go public through reverse mergers used to carry a
stigma as being unable to do an IPO.” March
19 Cincinnati Business News
"Financial Engines' growth
prospects, recurring revenue and increasing gross margins are
attractive to investors" March
16, Reuters
"So many IPOs have sold below their expected price range because
investment banks had overpriced them. That wasn't the case with Financial
Engines." March
16, USA TODAY
"Financial Engines' recent
revenue and profit growth have outpaced some of its competitors," March
15 Investors.com
"By any standard metric, Sensata
is way overpriced. There
are many other companies out there that have better income visibility
and better balance sheets. March
8 WSJ
“Potential investors should be concerned about the (Baltic Trading Limited & Crude Carriers) companies' focus on
the spot market." March
5 LA Times
“If Sensata prices at the
midpoint of its expected range, at $19 per share, it will have a
valuation dramatically higher than some of its competitors.” March 5
Reuters
"The Anthera Pharma IPO is
confirmation that there is an IPO market, but companies need to be
aware of investor climate and price accordingly." March
1
"Chesapeake Mid-stream is a high profile, high marque
company with cash to
distribute, if anyone does their homework they realize the risk is for
smaller companies without a big partner backing them. In their
business, bigger is better. They have a powerful parent, good growth
opportunities and visible cash flow." Feb 26
"Anthera
Pharmaceuticals, especially with no revenue or regulatory
approval, needs a more frothy market to make it." Feb
25 LA Times
"Clothing company Express was
a
leveraged buyout at the top of the market. They have a lot of
debt and they're in a low gross margin business." Feb 19
"Graham Packaging's enterprise
value to earnings ratio was about 39, higher than competitors Ball Corp
(BLL.N) and Silgan Holdings Inc (SLGN.O), which are about 22 and 33,
respectively." Feb 12
Reuters
"(IPO) Executives continue to
think their companies are worth more than
investors do." Feb
11 USA TODAY
“Investors were hesitant about Terreno
Realty because it lacks an operating history” Feb
10
"People are saying it's a lousy market, but there's a huge quantity of
deals. The problem is that while investment banks are selling a
story to these companies, it's the individual investors who make up
their own minds. If these deals were just priced reasonably, it would
be a different situation." Feb
8 Washington Post
"QuinStreet has an established
business and may do well. The longer-term risk is how easy it is for ad
agencies and others to do what they doing. The problem they're
having with DeVry may be the canary in the coal mine." Feb
8 Wall Street Journal
Tesla battery-powered electric
'ferrari' IPO: "If they get the funding they need, from the IPO or
other sources, then I believe they might for a while show some decent
sales, but if the niche becomes big enough then the elephants will step
in, grow the market themselves and take the lion's share" Feb
5 Globe & Mail
QuinStreet: "the company's
growth is attracting some unwanted
attention." Feb
3 Investors.com
"Ironwood has potential as a
business, but the company is not being
'realistic'with its IPO price." Jan
29 Business Week
"IFM
Inv (CTC, Century 21 China) is branded and has
visibility,
they're a player in the market.
But people are afraid their income statement will be hurt" by the
tightening of China's monetary policy Jan 28 Reuters
"I think Friendfinder is
a case of going public or going broke. They're just too leveraged to
stay afloat." Jan
26 Business Week
“The Friendfinder IPO is hot,
but not in the IPO sense. The adult
subscriber base is decreasing. Recently, sales have been flat and the
company has had difficulty servicing its heavy debt load.”
Jan 25
ABC news
“IFM's valuation is roughly in
line with much larger publicly traded
Chinese real estate services company E-House China Holdings Ltd, (EJ.N)”
Jan 24
Reuters
“Telegent Systems Inc., a
Sunnyvale, California-based chipmaker for
mobile-TV devices, may be valued as high as $1.5 billion in a
future IPO”
Bloomberg
"Investors shouldn't assume the busy week means the IPOs are good
ones. Only Symetra,
backed by Berkshire, is attractive for
investors. The true measures of the IPO market's health will come
later." Jan
22, USA TODAY
Buffett Boosts
Flowers, Berkowitz Pricing Symetra
IPO Jan 21
Bloomberg
"Symetra now has an estimated
price-to-book value of 0.85, 43%
less than the 1.5 multiple it would have based on the midpoint of the
2007 offering price."
Warren Buffett to retain shares
“The fact that he (Buffett) is holding his stock is a definite plus, It
gives institutional investors a feeling of security.”
Business
Week
"Five IPOs are scheduled for (this) week — that's high for January"
Investor's Business Daily
"There's quite an appetite right now for profitable companies"
IPO comeback in 2009 sets
stage for busy 2010
"It's a public drilling fund with no tax advantages," he said. "They'd
better find oil soon and fast."
referring
to Cobalt Energy (CIE)
Over 500
More Media
Quotes & Appearances go there now
About Gaskins
& IPOdesktop
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