Three firms set IPO deal price
Demandware, Allison Transmission and M/A-Com make debut
SAN FRANCISCO (MarketWatch) — Three firms priced their initial public offerings late Wednesday afternoon, with cloud software provider Demandware coming in above its previously stated range.
Demandware Inc. priced 5.5 million shares at $16 per share late Wednesday. The company had previously expected to sell its shares at a price range of $12.50 to $14.50. Trading in the stock will begin Thursday morning on the New York Stock Exchange under the ticker symbol DWRE.
Dow ekes out a gain
Blue-chip stocks squeezed out a sixth consecutive gain a day after the Federal Reserve's latest "stress tests" of the biggest U.S. banks.
Goldman Sachs and Deutsche Bank led the offering, with William Blair, Oppenheimer, Canaccord Genuity and First Analysis Securities participating in the deal.
Demandware provides data management software under a so-called SaaS, or software-as-a-service, model, similar to that employed by firms such as Salesforce.com Inc. (NYSE:CRM) and NetSuite Inc. (NYSE:N)
Another tech firm, M/A-Com Technology Solutions Inc., priced 6 million shares at $19 per share — at the high end of its previously expected range of $17-$19.
The company makes analog chip products geared to such markets as telecommunications, aerospace, defense, automotive and industrial. The company is expected to begin trading on the Nasdaq under the ticker symbol MTSI on Thursday.
The M/A-Com deal was led by Barclays Capital and J.P. Morgan, with Jefferies, Needham, Raymond James and Stifel Nicolaus participating.
The largest deal of the night was Allison Transmission Holdings Inc., which priced 26.1 million shares at $23 per share, in the middle of its expected range.
The manufacturer of transmissions for heavy-duty commercial and military vehicles will begin trading on the NYSE on Thursday morning under the ticker symbol ALSN.
BofA Merrill Lynch, Citigroup, JPMorgan, Credit Suisse, Morgan Stanley and Goldman Sachs led the deal, along with Barclays Capital and Deutsche Bank.
No comments:
Post a Comment