BUZZ- U.S. IPOs: Mixed performance in year's second biggest week of issuance

Mon Jun 8, 2015 2:57pm EDT
 
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** Uneven outcomes for last week's four IPOs, which raised $600 mln, while overall issuance escalates

** Alongside last week's IPOs, 19 follow-ons and three convertibles priced, approaching $14 bln in transaction value, largest since late March and third time weekly proceeds exceeded $10 bln this year

** Canadian specialty retailer DavidsTea Inc's shares boil over in their debut after pricing above their upwardly revised range, end week up 42 pct

** On opposite end, Penntex Midstream Partners, week's largest IPO, falls below issue as spike in US 10-year Treasury yield weighs on MLP's units

** Three jumbo raises accounted for majority of week's activity

** AerCap Holdings NV's $3.5 bln secondary, year's fourth largest offering, and accompanying share repurchase facilitate AIG's exit

** Acquisition-related financings from Endo International PLC ($2.0 bln follow-on) and Frontier Communications ($2.5 bln combined convertible and follow-on) round out jumbo deal category

** Looking ahead, biotechs return to IPO fray after a three-week hiatus as Axovant Sciences Ltd seeks a $1-bln plus valuation and Finland-based Biotie Therapies looks to list its shares in the US

** Fast casual chicken chain Wingstop, latest in long line of recent restaurant IPOs, also on tap while Fitbit Inc markets its wares ahead of next week's scheduled debut

** Calendar continues to build for next week as global chemical distributor Univar Inc and cloud-based software co MindBody Inc launch their respective IPOs this morning

** Recent IPO coverage (Messaging: lance.tupper.thomsonreuters.com@reuters.net)