A big week could be shaping up in the IPO market as eight new issues are scheduled to go public over the next five days. Three companies – Enerkem Inc. (NRKM), Luca Technologies (LUCA) and Erickson Air-Crane are hold overs from last week that haven’t priced shares yet.
Enerkem Inc. (NRKM) and Luca Technologies (LUCA) are alternative energy companies. Enerkem makes biofuels and chemicals out of solid municipal waste. While Luca Technologies uses nutrients to stimulate and enhance microbial production of natural gas from coal, shale and oil fields. Enerkem is looking to raise $131 million at a price range midpoint of $18.00 a share. While Luca looks to gather $102 million at a price range midpoint of $12.00 per share.
Erickson Air-Crane (EAC) operates and manufactors the S-64 Aircrane heavy lift helicopter. The primary use is firefighting, however the helicopter crane is specially designed to lift many types of loads. Their main sources of revenue are derived from sales to The Forest Service and other government programs. They are attempting to price 4.8 million shares at $8 to $9 dollars per share raising $41 million.
Yet another alternative energy company BrightSource Energy (BRSE) is looking to price 6.9 million shares between $21.00 and $23.00 on 4/12. Their primary product is a solar thermal panel that collects solar power which they then sell to power companies.
One of the larger IPOs of past few weeks Aleris (ALM), is a leading manufacturer of aluminum product in North America, Europe and China. The company is looking to price 31.3 million shares at $16.00 (the midpoint of the range), which would give them a market cap of $1.7 billion.
Oaktree Capital Group (OAK) is a global investment management firm that specializes in alternative markets. OAK is looking to raise $501 million on 11.3 million shares at a range between $43.00 and $46.00 per share. The deal is expected to begin trading on or about 4/12/12.
The last two IPOs scheduled for the week are both suppliers of products and services to the energy industry. MRC Global (MRC) is the largest global distributer of industrial pipes, valves and fittings. MRC is trying to sell 22.7 million shares at a price range midpoint of $22.00 per share. This would make the total market cap of the company $2.2 billion.
Forum Energy Technologies (FET) sells both consumable equipment which is used up during the normal course of drilling operations and new construction equipment designed f0r all types of oil and natural gas wells. FET manufactures equipment for both onshore and offshore drilling operations. They are looking to raise $300 million from 15.8 million shares at a price range midpoint of $19.00 per share.
Disclosure: This article contains some forward looking statements words, such as “believe,” “estimate,” “anticipate,” “plan,” “predict,” “may,” “hope,” “can,” “will,” “should,” “expect,” “intend,” “is designed to,” “with the intent,” “potential,” the negative of these words or such other variations thereon or comparable terminology, may indicate forward-looking statements, but their absence does not mean that a statement is not forward looking. In addition some initial public offerings contain proposed symbols for stock that is trying to list on a specific exchange. That stock may never trade under the proposed symbol or be quoted on the exchange. AssetInvesting.com’s parent company owns restricted stock in Luca Technologies. We do not have positions in any other company listed in this article nor do we intend to open positions in the next 72 hours.