initial public offerings (IPOs) trading on American exchanges

Saturday, October 29, 2016

Snapchat to seek $4 billion in its planned IPO

The IPO could value Snapchat at about $25 billion to $35 billion. No final decision has been made and the size of the IPO may change. The valuation could reach as much as $40 billion,

Valuations can vary in the lead-up to an IPO as companies may try to temper expectations among investors, while others on the deal are more likely to promote higher numbers.

Snapchat, which recently changed its corporate name to Snap Inc., is preparing filings for a listing and aims to sell shares in the first quarter of next year, people familiar with the plans said earlier this month. Because the company’s revenue is less than $1 billion, it plans to file IPO documents confidentially with the U.S. Securities and Exchange Commission, one of the people said.

Thursday, October 27, 2016

=ZTO Express (ZTO) began trading on the NYSE on 27 October 2016

  • The biggest IPO by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba in 2014.
  • ZTO Express says it is one of the largest express delivery companies in the world, in terms of total parcel volume in 2015. In the 2015, the company had a total parcel volume of 2.95 billion.
  • XTO covers more than 96% of cities and counties in China, with more than 3,300 trucks and 74 sorting centers. All packages are delivered in 24 to 72 hours.
  • The company sets up a network to delivers good from e-commerce sites such as Alibaba and (JD) and uses partners for pickup and last-mile delivery services.
  • In comparison, United Parcel Service Inc. (UPS)  delivered an average of 18.3 million packages globally a day in 2015, which would translate to about 6.7 billion packages for the year, but not all would be considered express delivery.

Chinese package delivery company ZTO Express debuted on the stock market Thursday morning, opening at $18.40 a share before falling more than 15 percent. The stock ended the day at $16.57.

"It's quite usual to see the volatility" in the shares, James Guo, the company's chief financial officer, told CNBC in a phone interview.

"The Chinese delivery market has tremendous potential," he said. "We expect we [will] continue to benefit from the continued e-commerce boom in China."

The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba in 2014, gave the Shanghai-based company a market value of more than $12 billion.
ZTO priced 72.1 million shares at $19.50 a share, above its previously indicated range of $16.50 to $18.50 a share. That price is about 27 times its expected 2017 earnings per share, according to people familiar with the company's financials.

The interest, analysts tell CNBC, comes from the access to the both the Chinese consumer and the Chinese e-commerce industry.

"There are very few stocks that allow access to the Chinese consumer, and this is one of them," Cindi Profaca at told CNBC. "Industry trends in e-commerce are all pointing upward, at least for the moment."
China is the world's largest market for delivery services, with total parcel volume of 20.7 billion in 2015, approximately 1.5 times the total parcel volume of the United States. Most of ZTO's business is driven from e-commerce, which is still under-penetrated in China. Gross merchandise volume (GMV) has reached $609 billion in 2015 and is expected to increase to $1.465 trillion in 2020.
Something to note, however, is that 75 percent of ZTO's volume comes from Alibaba.

"Although we plan to expand and diversify our customer base, we still expect to be reliant on the Alibaba ecosystem for the foreseeable future," the company said. ZTO also acknowledges it may be difficult to control costs given the competitive nature of the Chinese e-commerce industry.

The company raised $1.4 billion in the biggest U.S. initial public offering of the year as its backers cashed in on China's booming online-shopping industry, a source familiar with the deal said.

The company is profitable, with strong operating cash flow, a projected $1.5 billion in sales by the end of 2016, according to Renaissance Capital.

Wednesday, October 26, 2016

Mindbody (MB) reported earnings on Wed 26 Oct 2016 (a/h)

** charts after earnings **


SAN LUIS OBISPO, Calif. (AP) _ Mindbody Inc. (MB) on Wednesday reported a loss of $5.9 million in its third quarter.

On a per-share basis, the San Luis Obispo, California-based company said it had a loss of 15 cents. Losses, adjusted for stock option expense, were 9 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The business management software developer posted revenue of $35.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $35 million.

For the current quarter ending in December, Mindbody said it expects revenue in the range of $37.7 million to $38.7 million.

The company expects full-year revenue in the range of $138.5 million to $139.5 million.

Mindbody shares have risen 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.90, a climb of 11 percent in the last 12 months.

Thursday, October 20, 2016

-=Forterra (FRTA) began trading on the Nasdaq on 20 October 2016

Forterra, Inc. manufactures and sells water and drainage pipe and products in the United States and Eastern Canada.
Sector: Basic Materials
Industry: Building Materials
Full Time Employees: 4,729
Founded in 2016
HQ in Irving, Texas

Today's IPO for Forterra, Inc. (NASDAQ: FRTA) opened for trading at $16.61 after pricing 18,420,000 shares of its common stock, all of which are being offered by the Company, at a price of $18 per share, below the expected $19-$21 range.

Goldman, Sachs & Co., Citigroup and Credit Suisse are acting as joint book-running managers for the offering and representatives of the underwriters. Barclays, Deutsche Bank Securities and RBC Capital Markets are acting as book-running managers for the offering. Oppenheimer & Co., Stephens Inc. and SunTrust Robinson Humphrey are acting as co-managers.

Forterra is a manufacturer of pipe and precast products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution and drainage. Based in Irving, Texas, Forterra employs more than 5,500 people and operates more than 95 facilities, with products available throughout the U.S. and Eastern Canada.

Wednesday, October 12, 2016

The Trade Desk (TTD) began trading on the Nasdaq on 12 Sept 2016

The Trade Desk, Inc., a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally.

  • Sector: Technology
  • Industry: Software - Application
  • Full Time Employees: 713
  • Founded in 2009 
  • Headquartered in Ventura, California.

Azure Power Global Limited (AZRE) began trading on the NYSE on 12 October 2016

Azure Power Global Limited engages in the development of solar power plants in India. Today the group has projects across 23 states, including Rajasthan, Punjab, Gujarat, Chhattisgarh, and Uttar Pradesh. Azure Power is the only Indian company listed on NYSE.
  • Sector: Utilities
  • Industry: Utilities—Renewable
  • Full Time Employees: 654
  • CEO (and founder): Inderpreet Wadhwa (2008–)
  • Founded in 2008 
  • Headquarters:  New Delhi, India
Sold 14.8 million shares at $12.50 a share, nearly 25 per cent less than its opening price of $16.12.

CEO (and founder) Inderpreet Wadhwa

Extraction Oil & Gas (XOG) began trading on the Nasdaq on 12 Oct 2016

Extraction Oil & Gas, Inc., an independent oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquid reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg (DJ) Basin of Colorado.
  • Sector: Energy
  • Industry: Oil & Gas E&P
  • Full Time Employees: 227
  • Founded in 2012
  • Headquartered in Denver, Colorado.

  • 2 weeks later:

Thursday, October 6, 2016

Coupa Software (COUP) began trading on the Nasdaq on 6 Oct 2016

Coupa Software Incorporated provides cloud-based business spend management platform.
  • Sector: Technology
  • Industry: Software - Infrastructure
  • Founded in 2006
  • Headquartered in San Mateo, California
  • Full Time Employees: 1,202
The ticker COUP was previously used  by (NYSE:COUP). The company changed its corporate name to Quotient Technology (NYSE:QUOT) in 2015.

The “spend management” software company priced its IPO at $18 and saw its shares almost double during its first day of trading.

With clients like Nike and Toyota, Coupa helps companies keep tabs on everyday expenditures and competes with divisions of Oracle and SAP. Founded a decade ago, they claim they’ve saved their customers $8 billion to date.

But they’re still not profitable. For the six months ending in July, Coupa lost $24.3 million, which compares to a loss of $25.1 million in the same period last year. Yet revenue is growing, up to $53.2 million from $31.6 million in the same time frames.