IPO Lookout: IPO's for the Week of April 7th

On pace with the preceding weeks, the week of April seventh looks to launch twelve IPO's, plus the delayed Scynexis SCYX IPO from last week. Using the IPO price ranges as a guide, this week's companies are looking to raise roughly $4.6 billion dollars. Ally Financial ALLY is the biggest IPO expected for the week, looking to raise $2.5 billion. This week's IPO's are: For Wednesday, April 9 iKang Healthcare KANG will offer 10.9M ADS (American Depository Shares) of its medical services company between $12 and $14. Merrill Lynch and UBS will be bringing the company to market. La Quinta Holdings LQ operates as a franchisor of hotels and will be pricing its 37.2M share IPO between $18 and $21 through joint bookrunners J.P. Morgan and Morgan Stanley. For Thursday, April 10 Adamas Pharmaceuticals, Inc ADMS is a specialty pharmaceutical company and will price 3M shares between $16 and $18 through Credit Suisse and Piper Jaffray. Ally Financial ALLY is a financial services firm, formerly known as GMAC. It is expected to price 95M shares between $25 and $28 through underwriters Citi, Goldman Sachs, Morgan Stanley, and Barclays. La Quinta Holdings LQ operates as a franchisor of hotels and will be pricing its 37.2M share IPO between $18 and $21 through joint bookrunners J.P. Morgan and Morgan Stanley. Cerulean Pharma CERU is a clinical-stage biopharmaceutical company and is expecting to price its 5M share IPO between $11 and $13. Leerink Partners is the sole bookrunner for the IPO. For Friday, April 11 Aldeyra Therapeutics ALDX is a biopharmaceutical company and is expecting to price its 2.3M share IPO between $10 and $12. Aegis Capital is the sole bookrunner. City Office REIT CIO is a REIT (real estate investment trust) and is expecting to price its 6.7M share IPO between $14 and $16. Underwriters are Janney, Montgomery, Scott, Oppenheimer, and Wunderlich. Enable Midstream ENBL operates and develops natural gas and crude oil infrastructure. The company expects to price 26M shares between $19 and $21 through Morgan Stanley, Barclays, and Goldman Sachs. Farmland Partners FPI is a real estate company focusing on farmland. Their 4.7M share IPO is expected to price between $14 and $16 through Baird, BMO Capital, and Janney, Montgomery, Scott. Phibro Animal Health PAHC develops and markets animal nutrition products. They are issuing 11.8M shares and expect them to price between $16 and $18 per share. Merrill Lynch and Morgan Stanley are leading the issue. Paycom Software PAYC is a cloud-based human capital software provider. 6.6M shares are expected to price between $18 and $20. Barclays Capital and J.P. Morgan are the joint bookrunners. Zoe's Kitchen ZOES operates fast-casual restaurants and is expected to offer 5.8M shares for $11 to $13 per share. Piper Jaffray and Jefferies are joint bookrunners for the IPO. Scynexis SCYX develops and commercializes anti infectives for unmet therapeutic needs. Slated to begin trading last week, Scynexis has been delayed as they slash their price target range from $12 to $14 down to a range of $7 to $8. Canaccord Genuity and RBC Capital are the bookrunners. What to Watch La Quinta Holdings is a well-known middle to upper hotel service provider. The company owns, operates, and franchises hotels under the La Quinta brand. According to the company's most recent S-1, dated March 27th, they experienced $873.9 million in revenues for the year ending December 31st, maintain $2.1 billion in debt, and have almost 8,000 employees. Net proceeds are expected to be used to pay off all of the long-term debt, with any remaining funds for general purposes. ALLY Financial, formerly known as GMAC, collapsed in the 2008 financial crisis and was granted a $17 billon dollar bailout. The US Treasury is offering 95M of its 177M shares on Thursday looking to raise over $2.5 billion from the sale. None of the proceeds of the offering will be received by Ally. Given the size and unique situation, it will be interesting to see whether investors run scared from the one-time defunct institution, or scramble to buy shares in hopes of greener days ahead? Disclosure: At the time of this writing, the author holds no positions in any aforementioned securities; however, at a future time, he may choose to hold long or short positions without notice.