NEW YORK, N.Y. – The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (www.renaissancecapital.com) and SEC filings.
Week of May 6
American Residential Properties Inc. – Scottsdale, Ariz., 13.7 million shares, priced $21 to $23 each, managed by Morgna Stanley, BofA Merrill Lynch, and FBR Capital Markets. Proposed NYSE symbol ARPI. Business: Internally managed REIT focused on single-family residential properties.
Armada Hoffler Properties Inc. – Virginia Beach, Va., 14.6 million shares, priced $11 to $13, managed by Baird, Raymond James, and Stifel. Proposed NYSE symbol AHH. Business: REIT that develops, builds and owns office, retail and multifamily properties.
Cyan Inc. – Petaluma, Calif., 8 million shares, priced $10 to $12, managed by Goldman Sachs, J.P. Morgan, and Jefferies. Proposed NYSE symbol CYNI. Business: Provides a software-driven transport/switching platform for network operators.
Emerge Energy Services LP – Southlake, Texas, 7.5 million shares, priced $19 to $21, managed by Citigroup, BofA Merrill Lynch, and J.P. Morgan. Proposed NYSE symbol EMES. Business: Formed by Insight Equity to produce frac sand and process transmix fuel.
First NBC Bank Holding Co. – New Orleans, La., 4.2 million shares, priced $22 to $26, managed by Sandler O’Neill and Keefe Bruette Woods. Proposed Nasdaq symbol NBCB. Business: Full-service bank operating more than 30 branches in the New Orleans metropolitan area.
PennyMac Financial Services Inc. – Moorpark, Calif., 11.1 million shares, priced $17 to $19, managed by Citigroup, BofA Merrill Lynch, and Credit Suisse. Proposed NYSE symbol PFSI. Business: Focused on the production and servicing of U.S. residential mortgage loans.
Quintiles Transnational Holdings Inc. – Durham, N.C., 19.7 million shares, priced $36 to $40, managed by Morgan Stanley, Barclays, and J.P. Morgan. Proposed NYSE symbol Q. Business: Largest provider of clinical trial services to pharmaceutical companies.
Receptos Inc. – San Diego, 4.7 million shares, priced $14 to $16, managed by Credit Suisse, Leerink Swann, and BMO Capital Markets. Proposed Nasdaq symbol RCPT. Business: Biotech developing treatments for relapsing multiple sclerosis and IBD.
TriState Capital Holdings Inc. – Pittsburgh, 5.7 million shares, priced $11 to $13, managed by Stephens, Keefe Bruyette Woods, and Baird. Proposed Nasdaq symbol TSC. Business: Branchless bank serving middle market businesses in the northeast.