Ceridian HCM Holding Inc has priced its initial public offering of 21 million shares on the New York Stock Exchange and Toronto Stock Exchange at US$22 per unit. The Globe and Mail reported the company is set to raise
more than US$600 million. Concurrent with the IPO, Thomas H. Lee Partners and Cannae Investors, which acquired Ceridian in 2007 for US$5.3 billion, agreed to invest US$100 million more via a private placement. Ceridian, a Minneapolis, Minnesota-based human resources software and service solutions provider, is led by Canadian entrepreneur David Ossip.
Ceridian HCM Holdings, a portfolio company of Thomas H. Lee Partners, has raised $462 million with its IPO, Bloomberg is reporting. Ceridian HCM priced 21 million shares at $22 each, above its $19 to $21 range, the story said. Ceridian provides human capital management software.
Apollo Global Management is planning to take Diamond Resorts public in the coming months, the Wall Street Journal reported. Diamond Resorts has filed confidentially with the Securities and Exchange Commission and is expected to start trading in June or July, the story said. The company could seek a valuation of around $4 billion, the WSJ said.
Pivotal Software went public on the New York Stock Exchange Friday, April 20 after raising $555 million. Shares of Pivotal rose by 73 cents, or 4.87 percent, to close at $15.73 on volume of 24.7 million shares. Pivotal priced 37 million shares at $15 each. The enterprise software company is backed by Dell Technologies, EMC Corp, Silver Lake, General Electric, VMware and Ford Motor Corp, according to an SEC filing.
GrafTech International Ltd raised US$525 million in its U.S. initial public offering on Wednesday, a source familiar with the matter said, netting owner Brookfield Asset Management a smaller-than-expected windfall, Reuters reported. GrafTech manufactures graphite electrodes used in the production of steel. The underwhelming IPO investor reception illustrates that concerns about the volatility of its business persist. Brookfield acquired GrafTech for around US$1.3 billion, including debt, in 2015, and will receive all of the net proceeds from the IPO.
Uber Technologies Inc has picked VMware Inc’s (VMW.N) Zane Rowe as the top candidate for chief financial officer to lead preparations for the ride-hailing company’s initial public offering in 2019, Bloomberg reported on Wednesday.
Docusign has set terms for its forthcoming IPO. The digital signature company plans to sell 21.7 million shares at $24 to $26 each, a regulatory filing said. Of the 21.7 million, Docusign is offering about 16.06 million shares, while selling stockholders are providing 5.6 million, the filing said. Docusign plans to trade on the Nasdaq under the ticker “DOCU.”
Swiss packaging maker SIG Combibloc is moving ahead with preparations for an autumn stock market listing in Zurich that could value it at about 4.5 billion euros (US$5.5 billion), sources told Reuters. Its Canadian private equity owner Onex Corp has hired Goldman Sachs, Credit Suisse and Bank of America as global coordinators for the listing. Ahead of the listing, Onex will also sound out potential buyers for the beverage and food manufacturer it bought in 2015 from New Zealand billionaire Graeme Hart in a deal valued at 3.75 billion euros (US$4.62 billion), one source said.
U.S. graphite electrode maker GrafTech International Ltd said this week it could raise up to US$907 million ($1.16 billion) in what could be the largest initial public offering in the steel sector in a decade, Reuters reported. The offering of 37.8 million shares is expected to be priced between US$21 and US$24 per unit. The shares are being offered by GrafTech’s sole shareholder — Brookfield Business Partners LP, the listed vehicle of Toronto-based Brookfield Asset Management's private equity group. The group acquired Independence, Ohio-based GrafTech in 2015.
Cambridge, Massachusetts-based Unum Therapeutics Inc, a developer of antibody-directed cellular immunotherapy, has raised $69.2 million for its IPO after pricing its 5.77 million shares at $12 per share. The stock began trading March 29, 2018 on the NASDAQ under the ticker symbol "UMRX." Morgan Stanley and Cowen are the lead underwriters. Unum's pre-IPO backers include New Leaf Venture Partners, Brace Pharma Capital, Cowen Private Investments, Novo A/S, Sabby Management LLC, Wellington Management Company LLP, Fidelity Biosciences, Atlas Venture and Sanofi-Genzyme BioVentures.