Fresh Filings Keep IPO Market Alive

Yordanka
10 Sep, 2005
New York City

No deal has been priced for the last two weeks as the summer IPO is traditionally idle in early September. Five companies filed for initial public offerings, among which there are two that are planning auction-style OpenIPOs. There aren

200 companies filed for initial public offerings so far this year. Of the total 200 filings 88 have already been priced, 8 have been withdrawn and 1 has been postponed.

There are no deals expected to be priced this week.

LATEST FILINGS

Voyager Pharmaceutical ((VYGR)), a drug developer, registered for an IPO on Friday. The Raleigh-based company could raise as much as $129 million on the offering.

The number of shares to be offered and their price range haven’t yet been determined. These details are expected in future filings.

WR Hambrecht is stated as the manager on the deal. The offering is being conducted as an auction, in which the offering price and share allocation will be determined by a process known as an OpenIPO.

Ritz Interactive, Inc. ((RTZI)), a specialty online retailer, filed a registration statement with SEC for an initial public offering on Friday. The company will raise up to $34.5 million in the IPO. Details about the number of shares to be offered and their price range per share will be the subject in future filings.

The company sells digital cameras and fishing gear through its three main websites: RitzCamera.com, WolfCamera.com and Boatersworld.com.

WR Hambrecht and Roth Capital will be the managers on the Dutch auction-style IPO, under which would-be investors determine the price range for the deal. The minimum size for a bid is 100 shares, according to the filing.

During the six-month period ended June 30, the Irvine-based company posted net income of $450 thousand.

The two companies are the fourth and fifth deals, respectively, this month to choose a Dutch auction-style IPOs after IDT Spectrum ((GIGZ)), Traffic.com Inc. ((TRFC)), and Dover Saddlery Inc. ((DOVR)). WR Hambrecht is lead underwriter on all five IPOs.

American Railcar Industries, Inc. ((ARII)), a railroad car manufacturer, registered for an initial public offering on Thursday, hoping to raise up to $150 million. The filing did not set the number of shares to be offered or their price range a share.

The company is a leading maker of covered hopper and tank railcars. It has a long history dating from 1800s and is nowadays controlled by a billionaire Carl Icahn.

In 2004 American Railcar posted $355 million in revenue and net income of $2.3 million.

UBS Investment Bank and Bear Sterns will be underwriters on the deal.

Glycotex, Inc. ((GLTX)), a biopharmaceutical company, filed for an initial public offering of common stock on Friday. The company is planning to raise up to $39 million in its IPO.

The filing did not reveal how many shares the company plans to sell or at what price.

Janney Montgomery will underwrite the offering, according to the filing.

The Australia-based company is developing a novel class of drugs for human wound healing and tissue repair.

Apollo Publication Corp. (ticker symbol to be announced) filed for a $3.6 billion IPO on Thursday. The Canada-based company will offer 25 million shares at a price of $145 per unit.

The company is owned by God Luos Children and is a significant part of IOE (Imperial of Earth). Apollo Publication publishes the books and works of God Luo family and her kins and provides printing service for all business partners for their financial reports, product catalogs, labels and trade mark stickers, Journal and Ledger of acounting and flyers.

Apollo Publication has its online store for international customer to buy the products online.