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Bankers Under Fire as Facebook Slips 11%

Some $FB investors are already down 25% on their purchases. Who better to blame than the bankers for the flawed IPO?

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Carlyle Offers IPO at a 62% Discount to Competitor

Carlyle Group LP (CG) is out to replicate the performance of companies it has taken public with its own share sale this week. Doing so would make it the only U.S. buyout firm trading above its initial offering price.

To entice investors, the Washington-based private equity manager is offering shares at a 62 percent discount to Blackstone Group LP (BX), data compiled by Bloomberg show. The IPO price is designed to provide the maximum potential return for investors, co-founder David Rubenstein told prospective shareholders at a presentation in New York last week…”

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The Carlyle Group is Said to be Seeking $8 Billion for an IPO

Carlyle Group, the second-biggest U.S. private-equity firm, will seek a valuation of $7.5 billion to $8 billion in its initial public offering, according to people with knowledge of its plans.

Carlyle plans to sell a stake of about 10 percent in the IPO and will start marketing the deal to investors as early as next week, said the people, who asked not to be identified because the information is private. The Washington-based firm, which has been gauging public interest since last year, is targeting its share sale in early May, said another person…”

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FB IPO: May 17 or 24

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Facebook has homed in on two possible dates to launch its initial public offering on the Nasdaq, according to a person familiar with the matter. Bankers & management are currently looking at a primary target date of May 16 or May 17 to price the deal (with trading commencing the following day), according to this person, and trading would commence the following morning. The company would begin marketing the deal on May 7 under that scenario.

The final timing, however, will be highly dependent on the Securities and Exchange Commission’s review of Facebook’s recently announced $1 billion acquisition of Instagram. While bankers expect the commission to give the deal a go-ahead by the end of April, unforeseen comments or questions from regulators could push IPO pricing back by roughly one week.

If that were the case, the company would default to a plan B, which would aim to price the deal on May 23 or 24 and begin trading the following day.

Under either scenario, Facebook is leaning towards a 10-day period to market the deal with investors – known as a road show – which will primarily focus on domestic investors in hubs like New York, Silicon Valley, and Boston, according to this person. The company is considering meeting with prospective investors abroad in Europe, but would keep that trip brief (if it happens at all). Typically, road shows for large IPOs last around 14 days.

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IT Security Firm @PaloAltoNtwks Files S1

Looks like they’ve been growing revenues aggressively and are now turning a profit:

For the fiscal years 2009, 2010, and 2011, Palo Alto Networks saw revenues of $13.4 million, $48.8 million, and $118.6 million, respectively. Sales grew 265% in 2010 and 143% in 2011. For 2009, 2010, and 2011, the company saw losses of $19 million, $21.1 million, and $12.5 million, respectively. For the six month period ended January 31, 2012, Palo Alto saw net income of $4.5 million.


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