Eight new IPOs will come to market this week to continue this busy year for new stocks. We've now seen 35 initial public offerings since Alibaba Group Holding Ltd. (NYSE: BABA) stock hit the market Sept. 19. Only six IPOs took place in the month leading up to the Alibaba IPO, a sign that companies waited until after BABA to go public.
The biggest IPO to watch this week is Zayo Group Holdings (NYSE: ZAYO). The stock will start trading Friday, and the fiber-optic company will raise roughly $650 million.
But that's not the only deal to watch this week. In fact, this week's new IPOs should raise more than $1.8 billion combined.
Here are the details behind each of this week's upcoming offerings...
Zayo Group Holdings Inc. (NYSE: ZAYO) provides fiber-optic bandwidth infrastructure services. It had revenue of $1.1 billion last year. ZAYO will sell 28.9 million shares at a $21 to $24 price range, and should raise $650 million. The firm is expected to have a market cap of $5.3 billion after the IPO. ZAYO shares will trade on the New York Stock Exchange starting Friday, Oct. 17.
Great Western Bancorp Inc. (NYSE: GWB) is a full service, regional bank holding company that operates in the Midwest. Through its IPO, GWB plans to raise $360 million by offering 16 million shares at a $21 to $24 range. Last year, GWB had revenue of $376 million. After the IPO, analysts expect GWB to have a market value of $1.3 billion. GWB will make its debut Wednesday, Oct. 15, on the NYSE.
Dominion Midstream Partners LP (NYSE: DM) is a spin-off of Dominion Resources Inc. (NYSE: DM). It owns a liquefied natural gas (LNG) terminal in Lusby, Md. DM will sell 17.5 million shares this week. At the midpoint of its $19 to $21 range, DM will raise $350 million. In the last 12 months, DM reported $254 million in revenue. The company will have a valuation of roughly $1.3 billion after the IPO. DM shares will be available on the NYSE starting on Wednesday, Oct. 15.
Money Morning Members: Continue reading for the rest of this week's new IPOs...
Forward Pharma (Nasdaq: FWP) is a biotech company whose lead product is designed to treat multiple sclerosis. This week, FWP plans to raise $200 million by selling 9.5 million shares at a $20 to $22 range. Following the deal, FWP should be valued at $945 million. FWP will make its debut Wednesday, Oct. 15, on the Nasdaq .
Hydra Industries Acquisition Corp. (Nasdaq: HDRAU) is a blank-check company primarily focused on acquisitions. HDRAU wants to raise $100 million by selling 10 million shares for $10 each. For every share investors buy, they'll have the opportunity to buy another one-half share for $5.75 each. HDRAU was founded in 2014 and will begin trading on the Nasdaq Wednesday, Oct. 15.
Fiat Chrysler Automobiles NV (NYSE: FCAU) stock began trading on the New York Stock Exchange this morning. This technically isn't an IPO since no new shares are being offered. Instead, it's just a stock market listing. This is the first time Chrysler shares have traded in the U.S. in more than seven years. The listing follows the official merger of Fiat and Chrysler from 2009. Fiat shares had previously traded in Milan and the United States.
Atara Biotherapeutics Inc. (Nasdaq: ATRA) plans to raise $75 million by selling 5 million shares at a range of $14 to $16. ATRA stock will begin trading on the Nasdaq Thursday, Oct. 16.
Virobay Inc. (Nasdaq: VBAY) will raise $50 million by selling 3.8 million shares at a $12 to $14 range. VBAY will make its debut on the Nasdaq Thursday, Oct. 16.
Xenon Pharmaceuticals Inc. (Nasdaq: XENE) plans to raise $44 million by selling 4 million shares at a range of $10 to $12. XENE will begin trading on the Nasdaq Friday, Oct. 17.
What to Read Now: Here's how the most powerful man in the world got this mortgage denied....
[epom key="ddec3ef33420ef7c9964a4695c349764" redirect="" sourceid=""]