Canadian steelmaker Stelco Holdings Inc’s planned initial public offering could be a tough sell as it faces the twin headwinds of slowing North American auto sales and the uncertain impact of trade talks, even as it looks to cash in on a rebound in steel prices, Reuters reported. Stelco also needs to regain investor confidence just months after emerging from its second bankruptcy in 13 years, analysts and investors said, as its new owner seeks to raise $185 million by selling a stake in the restructured, almost debt-free company. Stelco, now owned by U.S. private equity group Bedrock Industries, filed in late September for the initial public offering and is now marketing it.
Canadian apparel company Roots Corp raised $200 million in its initial public offering, a source with direct knowledge of the matter told Reuters. The company priced its shares at $12 on the Toronto Stock Exchange, according to the source, down from a previous range of $14 to $16. Roots, known for its trademark beaver logo, is set to make its debut seven months after Canada Goose Holdings Inc had its high-flying IPO. The company has been a portfolio investment of U.S. private equity firm Searchlight Capital Partners since 2015. Searchlight is selling shares as part of the offering.
SpringerNature, the publisher of science magazines Nature and Scientific American, is preparing a 2018 stock market listing valuing the company at up to 4 billion euros ($4.7 billion), sources told Reuters.
Turkish private equity firm Turkven aims to hold a public offering for nearly 50 percent of healthcare firm Medical Park Group next year, Turkven’s chief executive said, a listing that could be worth around $1 billion
Neo Performance Materials Inc, a Toronto-based producer of advanced materials, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO, which has not yet been priced, contemplates a secondary sale of shares by U.S. private equity firm Oaktree Capital Management, the company's majority shareholder. Oaktree reportedly took control of Neo Performance, formerly known as Molycorp Inc, when it emerged from bankruptcy in 2016. Scotiabank and RBC Capital Markets are acting as joint book-runners for the IPO, and Cormark Securities is acting as co-lead underwriter.
Optical retailer National Vision, which is backed by KKR, has priced its IPO of 15.8 million shares at between $18 and $20 per share. The company plans on listing the stock on the NASDAQ under the ticker symbol "EYE." BofA Merrill Lynch, Goldman Sachs & Co. LLC, Citigroup and KKR Capital Markets are the lead underwriters.
Vincom Retail, the shopping mall subsidiary of Vingroup, launched on Monday Vietnam’s largest-ever initial public offering (IPO), in a deal worth up to $713 million, IFR reported, citing a term sheet of the deal.
Baidu Inc’s (BIDU.O) iQiyi, a Netflix (NFLX.O) style video streaming service in China, has picked three banks to help arrange a U.S. initial public offering (IPO) worth about $1 billion, Reuters reported.
Saudi Aramco is considering shelving plans for an international public offering in favor of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.
Cabot Credit Management, Britain’s biggest debt collector, is set to launch a 1 billion pound ($1.3 billion) stock market float next week after a delay last month to revamp its board, a source told Reuters.