This week we have three new IPO's on the schedule. This is sort of an interesting week as history shows that we usually don't see many, if any IPO's on the books. Though there are three IPO's this week, we would still expect to see very low activity in the coming weeks. The last two weeks in August could actually see no deals at all.
Of the three names this week we have two energy companies, and a small biotech. The energy companies will likely get the attention as the IPO markets have not seen a launch in this sector since May. The thought is that now that oil prices have recovered slightly that there may be more energy IPO's in the works.
Cotura Energy (CTRA ) is the largest offering of the week. They are a coal producer that was born out of the restructuring of Alpha Natural Resources. The new company is looking for $150 million and will offer 6 million shares at a range of $23 - $27. Cotura is a leading producer of specialty coals out of six mine sites and has total reserves of over 1.3 billion short tons. It should be noted that insiders are the ones selling 100% of the offering.
Ranger Energy Services (RNGR ) is the other energy name on the block this week. They provide well services for companies in the Permian Basin. They are looking for $85 million by offering 5 million shares at a range of $16 -$18. With a successful IPO the company will own 122 specialty rigs in the horizontal fracking space, with 21 new builds on order. This will give it the largest, and youngest fleet in the industry.
Zealand Pharma (ZEAL ) is a Danish company that is listed on the Nasdaq Copenhagen. They are looking for $75 million by offering 3.9 million shares at $19.30. The company is "developing peptide-based treatments for type 2 diabetes", and currently has two approved treatments.