Thunder and lightning rolled through the canyons of Wall Street last week and the forecast is for more of the same, but not for this week’s IPO calendar.
When words such as “cloud computing” and “China” wrap their fingers around an IPO these days, you can anticipate some aftermarket fireworks. 21Vianet Group (VNET – proposed) – a Chinese “cloud computing” company – heads up this week’s IPO calendar. The Street is calling it “the pick of the week.”
The IPO circus comes to town this week with eight acts on its card looking to raise over $1.8 billion. Zipcar (ZIP –proposed) and ArcosDorados Holdings (ARCO – proposed) are expected to star in the center ring. Some even think Arcos, the world’s largest McDonald’s franchisee, could be the sleeper of the week.
The market is coming alive with the sound of IPOs. Last week, over a dozen companies filed plans to go public or set pricing terms, according to the U.S. Securities and Exchange Commission’s filing window. They expect to raise $2 billion. Among those numbers was the anxiously anticipated Zipcar (ZIP –proposed) offering. Away we go.
The IPO market cruises into the end of Q1 2011 with five deals on this week’s calendar. Two are carryovers from last week and there is one that is drawing a lot of attention. It is Apollo Global Management (APO – proposed).
Stocks are bought on hope, held in greed and sold in fear. First Egypt, then Japan and Libya have sprinkled fear over the markets and brought the Nasdaq Composite Index to its knees. It closed on Friday in minus territory for the year. And the IPO market? It has become selective.
Reading tea leaves to get a glimpse of the future is a waste of time in the cynical eye of a Wall Street professional. Reading the S-1/A filings from the U.S. Securities and Exchange Commission’s filing window is a different story. Over the last 10 days, the S-1/A filings have been giving off a strong message. They’re saying: Get ready for an interesting IPO calendar.
The financial media had a great time this past week ballyhooing a blockbuster billion-dollar IPO still in the pipeline. Here’s what the flutter was about.