As the IPO markets continue to enjoy a steady pace, that pace will continue this week. We have three companies set to go on the IPO calendar, and as a whole they are looking to raise over $600 million.
First Hawaiian (NASDAQ: FHB) plans to raise $464 million in the largest US bank IPO since Citizens Financial Group (NYSE: CFG) back in September 2014. If fast growth and high margins are more your speed, At Home Group (NYSE: HOME) may be something you look closer at. They will be the first big-box retailer since Ollie's Bargain Outlet (NASDAQ: OLLI) in July 2015. Lastly we have Motif BIO (NASDAQ: MTFB) which is a small biotech with a focus on antibiotics.
Let's start with the weeks largest offering. First Hawaiian (NASDAQ: FHB) is #1 in Hawaii by assets, loans, deposits and net income. The company does note that the low interest rate environment has eaten into spreads and net income (Which is stated as $215 million). Their net income has been flat or down for three years, but its efficiency ratio (which is a bank stat that is highly tracked by analysts) has consistently come in under 50%. The bank plans an initial dividend of 3.6% which is above that of its closest rival. First Hawaiian will look to offer 21 million shares at a range of $21-23.
Next we have At Home Group (NASDAQ: HOME) which is set to raise $130 million by offering 8.6 million shares at a range of $14-16. The company will use the proceeds to pay down debt. The home decor retailer operates 115 large-format stores and plans to open an additional 22 per year moving forward, with a long-term potential of 600 US locations (5 times their size now). Sales have grown 20% with nine consecutive quarters of positive store sales growth. The company says that selling unbranded and private label products (70% of its product base) has led to strong margins , but those margins have declined in each of the past three years.
Lastly, Motif Bio (NASDAQ: MTFB) is a UK-listed biotech which plans to raise $35 million by offering 2.8 million shares at $12.42. The company will use the proceeds to complete Phase 3 trials for iclaprim, an antibiotic for multi-drug resistant bacteria.