Ferragamo to follow in Prada’s footsteps

June 7, 2011

Do three listings make it a trend?

Yesterday, IR magazine noted that luxury brands Prada and Samsonsite are preparing for IPOs on the Hong Kong exchange. While it isn’t heading to Asia to do so, Italian fashion company Salvatore Ferragamo is stepping into the public markets.

Ferragamo is planning to offer 25 percent of the company, according to the Boston Globe, in an IPO on the Milan Stock Exchange later this month. The company’s value is estimated to be $3.28 bn.

Meanwhile, another fashion company, Moncler, has pulled its IPO in favor of a direct investment from Eurazeo, the French investment firm.

Source: Boston Globe, post syndicated from IR magazine

Photo: MJ/TR via Flickr


IPO market roundup: Bankrate, Prada and Vanguard Health Systems

June 6, 2011

Bankrate: the financial content company is looking to raise $300 mn in an IPO that would lead to a valuation of $1.5 bn. The price range for the 20 mn shares being offered is $14 to $16. [Source: Renaissance Capital]

Prada: the fashion company is set to go public in Hong Kong as early as next week, where it hopes to raise $2 bn to $2.6 bn. [Source: IPO Roadshow]

Vanguard Health Systems: the hospital operator could hit a valuation of $1.57 bn in an IPO expected to raise as much as $575 mn in capital. The price range is expected to be $21 to $23 a share and would provide a liquidity event for Blackstone Group, which controls the company. [Source: Reuters]

Moncler is one of 17 western European companies to yank or defer IPO

June 6, 2011

When Eurazeo offered to buy 45 percent of fashion company Moncler, it added to an existing trend on the continent this year. So far, 17 IPOs in western Europe have been canceled or pushed off, up from eight during the same period last year. Worldwide, the same thing is happening: 79 IPOs have been delayed or canceled this year, compared to 55 at this point a year ago.

Source: Bloomberg

Luxury IPOs coming to Hong Kong: Prada and Samsonite

June 6, 2011

Prada and Samsonite are set to go public in Hong Kong this month. The two luxury brands could raise more than $4 bn in total, with Prada aiming for $2 bn to $2.6 bn and Samsonite gunning for $1.5 bn in capital.

Read the rest of this entry »

Pandora seeks to be next billion-dollar IPO

June 3, 2011

Online music service Pandora has just priced its IPO, according to Business Insider. If the big number falls in the middle of its range, the company will reach a valuation of $1.3 bn, despite losing $1.7 mn on $137 mn in revenue in its last fiscal year.

This may seem like small money following LinkedIn’s $10 bn debut and a Groupon IPO that could start at a valuation of $20 bn. Nonetheless, it may help reinvigorate a relatively quiet IPO market.

Source: Business Insider

Groupon files for IPO, sets valuation at whopping $20 bn!

June 2, 2011

If I were offered $6 bn, I probably wouldn’t say ‘no’. Then again, I’m not at the helm of online deals company Groupon. And in retrospect, the decision to decline billions and billions of dollars seems to have been a good one.

Groupon filed for its IPO and the valuation could reach bn. To put this in perspective, LinkedIn reached a market cap of around $10 bn at the height of trading on its first day as a public company, and that was at more than double the price at the opening bell.

Read the rest of this entry »

IPO roundup: who’s going public?

June 1, 2011

Latrobe Special: the metals and alloys manufacturer is looking to raise $175 mn in its IPO. Backed by the Watermill Group and Hicks Holdings, which holds 90.5 percent of the company, Latrobe’s market includes aerospace, defense, energy, hydrocarbon, medical and industrial steel. [Source: AltAssets]

Rexnord: this precision motion technology manufacturer is shooting for a $700 mn capital raise in its planned listing on the NYSE. The float follows two scrapped IPOs in the past five years. It’s backed by private equity firm Apollo. [Source: AltAssets]

Spirit Airlines: the air carrier raised $187.2 mn in its NASDAQ IPO last week, providing an exit for Indigo Partners and Oaktree Capital Management, which own 31.5 percent and 40.3 percent of the company, respectively. [Source: AltAssets]