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Private Briefingwith WILLIAM PATALON III, Executive Editor
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The third week of April is going to be a busy one for our IPO calendar. Six companies will be making their debut including some of the most anticipated offerings of the year so far.
The aftermarket has remained strong with recent offerings like Pinnacle Foods (NYSE: PF), which appreciated more than 20% following the IPO. As long as the equity markets remain stable and pricing in the aftermarket remains solid we should continue to see strong demand from institutional investors for IPOs.
Let's take a look at what investors have to watch in the IPO market next week.
The week gets off to a busy start on Monday, April 15 with the debut offering of Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASIC). Hannon Armstrong is a specialty finance company for sustainable infrastructure products that lower energy costs and provide cleaner sources of energy.
The company intends to be taxed as a real estate investment trust (REIT) and will pass through most of its income to shareholders. It will offer 13.3 million shares between $14 to $16 in an offering managed by BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities.
Wednesday, April 17 will bring the IPO of a fast-growing local grocer.
Fairway Group (Nasdaq: FWM) is a New York metropolitan-area grocer offering 13.7 million shares between $10 and $12 a share. Established in the 1930s as a neighborhood grocer, the chain has grown to 12 locations in the New York area with total sales of $554 million.
The company offers traditional grocery products in a addition to a wide range of specialty and organic foods and operates Fairway Wine and Spirit shops in three of their locations. The company claims that its combination of groceries, fresh convenience products and organic foods offer customers a shopping experience "Like No Other Market."
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