The IPO markets will kick off the new quarter with 5 potential offerings. This week we will have a marketing company, and a few transportation companies, but the most anticipated one will be the Brazilian airline Azul which hopes to be the first airline IPO since 2014. It's acceptance will be closely watched by US airlines like Frontier, which are also looking to go public.
Azul Airlines (AZUL ) will be the largest, and most anticipated IPO this week as the company hopes to raise $478 million from the public markets. Azul will come to market offering 24 million shares at a price range of $18.02-#21.8. The company is Brazil's third largest airline overall, but number one in terms of routes offered around the country. The airline was originally founded by JetBlue's co-founder David Neeleman and has had a unique growth story in the area.
Hess Midstream Partners, LP (HESM ) is an energy MLP that was formed by two other companies which own the gathering/processing assets in the Bakken area. The company will be looking to raise $250 million by offering 12.5 million shares at a range of $19 - $21. Though the price of oil has been soft many of the oil service companies have been taking the opportunity to slim down and become more efficient preparing for low prices for extended periods of time.
Elevate Credit (ELVT ) is an online provider of loans and lines of credit to less than perfect customers. The company is looking to raise $100 million by offering 7.7 million shares at a range of $12 - $14. Founded in 2001, the company did attempt to go public last year but postponed.
Scheider National (SNDR ) is a family owned trucking company that is looking to raise $550 million by offering 29 million shares at a range of $18 - $22. They are the second largest trucking company in the states which feels that their business model, along with propriety technology are a few of the reasons they have had such success.
Okata (OKTA ) is an on-demand identity and access management software provider for enterprises. They will be coming to market offering 11 million shares at a range of $13 - $15 in hopes of raising $154 million.