There is just one deal on the calendar for the week ahead.
Crestview-backed Select Energy Services (WTTR) provides water services for hydraulic fracturing companies. It is seeking $175 million in an offering that will follow an abbreviated roadshow schedule, pricing just one week after its launch. Energy deals represent the worst performing sector of 2017, down 8% on average.
| IPO Calendar | All | ||||
| Issuer Business |
Symbol Exchange |
Deal Size($m) Market Cap($m) |
Price Range Shares Filed |
Pricing Date |
Top 3 Bookrunners |
| Select Energy Service Irving, TX |
WTTR NYSE |
$175 $1,143 |
$15 - 18 10,600,000 |
4/20 | Credit Suisse, FBR, Wells Fargo |
| Provides water services for hydraulic fracturing. |
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Although the calendar is currently sparse, we expect it to fill up quickly in the week ahead. Several recent filers become eligible to launch such as data management platform provider Cloudera (CLDR), high-growth used car dealer Carvana (CVNA), Chinese peer lender China Rapid Finance (XRF) and a number of energy filers.
| Recent IPO Filers - Potential Launches in April |
||||||
| Issuer Business |
Symbol | Estimated Deal Size($m) |
Earliest Launch Date |
Top 3 Bookrunners |
||
| FTS International Fort Worth, TX |
FTSI | $1,000 | Able to Launch |
Credit Suisse, Morgan Stanley, Barclays |
||
| Provides hydraulic fracturing services for the oil and gas industry. |
||||||
| Liberty Oilfield Services Denver, CO |
BDFC |
$300 | Able to Launch |
Morgan Stanley, Goldman Sachs |
||
| Provides hydraulic fracturing services for the oil and gas industry. |
||||||
| NCS Multistage Holding Houston, TX |
NCSM | $100 | Able to Launch | Credit Suisse, Citi, Wells Fargo |
||
| Provides well completion equipment and services in Canada and the US. |
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| Solaris Oilfield Infrastructure Houston, TX |
SOI | $100 | Able to Launch |
Credit Suisse, Goldman Sachs, Morgan Stanley |
||
| Rents proppant management equipment used in hydraulic fracturing. |
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| Floor & Decor Smyrna, GA |
FND | $150 | Able to Launch |
BofA, Barclays, Credit Suisse |
||
| Hard surface flooring and accessories retailer with 71 warehouse-format stores. |
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| Carvana Phoenix, AZ |
CVNA | $300 | Wk of 4/17 | Wells Fargo, BofA, Citi |
||
| Online used car marketplace with locations featuring car "vending machines". |
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| Cloudera Palo Alto, CA |
CLDR | $200 | Wk of 4/17 | Morgan Stanley, J.P. Morgan, Allen & Co. |
||
| Provides a data management platform based on its open source hybrid of Hadoop. |
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| China Rapid Finance Shanghai, China |
XRF |
$100 | Wk of 4/17 |
Morgan Stanley, Credit Suisse, Jefferies |
||
| Chinese exchange for peer-to-peer microlending. |
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| Emerald Expositions San Juan Capistrano, CA |
EEX |
$300 | Wk of 4/17 |
BofA, Barclays, Goldman Sachs |
||
| Makes and sells trendy, high-end down-filled parkas. |
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 9.1% year-to-date, while the S&P 500 is up 4.0%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Ferrari (RACE) and TransUnion (TRU). The Renaissance International IPO Index is up 9.2% year-to-date, while the ACWX is up 7.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Covestro and ABN Amro. To find out if this is the best ETF for you, visit our IPO Investing page.
