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Adaro poised to be Indonesia's largest IPO (Reuters)

2008-06-02T16:20:00.000-07:00

This is the biggest IPO in Indonesia so far. Amazing deveopment for an emerging country that has gone through various natural disasters, financial and political turmoils.

Adaro poised to be Indonesia's largest IPO (Reuters)

By John Aglionby in Jakarta

Thursday May 15 2008 10:35

Adaro Energy, the holding company for Indonesia's second-largest coal miner, on Thursday increased its planned public offering to Rp12,000bn ($1.3bn), which stands to make it the largest IPO in the country's history.

Adaro is 36 per cent owned by a group of investors including Goldman Sachs (NYSE:GS) , Citigroup (NYSE:C) , Farallon Capital, the Government of Singapore Investment Corporation and the Kuok Group. Teddy Rachmat, an Indonesian businessman, and Saratoga Capital, each control 32 per cent.

Indonesia is the world's largest exporter of thermal coal, which is widely used in the power sector. Adaro plans to use 91.2 per cent of the IPO proceeds to raise its stakes in the Agalia business group, a holding company for mining interests, and another affiliate, and to repay debts.

Top Global IPOs (24 May to 30 May 2008 -- Reuters)

2008-06-01T22:12:00.000-07:00

Top Global IPOs - Reuters

Closed last week (24 May to 30 May 2008)

Company	Country	Completed	Amount Raised $M
Gulf International Services QSC	Qatar	26-May	497.6
Joyoung Co Ltd	China	28-May	217.5
Safe Bulkers Inc	Greece	29-May	190.0
Hangzhou Binjiang Real Estate Group Co Ltd	China	29-May	175.6
Tri Polyta Indonesia Tbk PT	Indonesia	26-May	171.5
Forbes Energy Services Ltd	United States	29-May	151.8
OPG Power Ventures Plc	Isle of Man	30-May	129.0
Consultatio SA	Argentina	28-May	113.0
Shenzhen Topway Video Communication Co Ltd	China	26-May	67.4
Runge Ltd	Australia	27-May	48.2

Reuters IPO reports (2007 data)

2008-06-01T21:50:00.000-07:00

Reuters IPO reports (2007 data)

US & Canada
Q4 2007 IPO report

Q3 2007 IPO report

Q2 2007 IPO report

Q1 2007 IPO report

EMEA

Q4 2007 IPO report

Q3 2007 IPO report

Q2 2007 IPO report

Asia

Latin America

Q2 2007 IPO report

Source: Reuters

Recent IPO News as of June 01, 2008

2008-06-01T21:08:00.001-07:00

Recent IPO News as of June 01, 2008
Source: Yahoo News

Sunday June 1, 2008

UPDATE - Bradford & Bingley says CEO Crawshaw steps down
5:53 pm - at Reuters
UK's B&B to get cash boost from Texas Pacific-BBC
5:28 pm - at Reuters

Saturday May 31, 2008

Finmeccanica to decide soon on capital hike - CEO
8:22 am - at Reuters

Friday May 30, 2008

Capital Trust files $500 mln mixed shelf offering
5:43 pm - at Reuters
Barrick Gold files $2 bln debt shelf offering in US
5:28 pm - at Reuters
RHI Entertainment sets IPO at 12.5 mln shares
5:20 pm - at Reuters
ReneSola files to sell American depositary shares
5:10 pm - at Reuters
New Issue-National Bank of Greece sells $625 mln perpetuals
2:52 pm - at Reuters
UPDATE - Kenya's Safaricom IPO oversubscribed by 532 pct
2:26 pm - at Reuters
Fewer US IPOs seen going into Russell Global Index
2:11 pm - at Reuters
CORRECTED - RLPC-UPDATE - Carlyle Group obtains $800 mln acquisition loan
2:05 pm - at Reuters
Saudi bourse surpasses London in IPO activity
10:49 am - at Reuters
New Issue-Pricoa Global Funding I sells $500 mln notes
10:46 am - at Reuters
New Issue-US Bancorp sells $250 mln in 2-yr floaters
10:41 am - at Reuters
Freddie Mac to sell $5.0 billion in bills on Monday
10:39 am - at Reuters
REFILE- New Issue-El Paso Electric sells $150 mln notes
10:01 am - at Reuters
American Defense Systems, Inc. Announces Listing on the American Stock Exchange
9:43 am - Business Wire

Thursday May 29, 2008

New Issue - BMC Software sells $300 mln 10-yr notes
6:16 pm - at Reuters
New Issue-Cox Communications sells $1 bln debt in 2-pt
5:31 pm - at Reuters
Toronto-Dominion Bank files for $10 bln debt offering
4:34 pm - at Reuters
IKON to Redeem Remaining $100 Million of 2012 Notes
4:13 pm - Business Wire
Antigenics files for $100 million mixed shelf
4:02 pm - at Reuters
New Issue-El Paso sells $150 mln in 30-yr senior notes
3:57 pm - at Reuters
Cox Communications sells $1 bln debt in 2 parts -IFR
3:52 pm - at Reuters
RLPC-UPDATE - Fidelity National Information seeks loan
3:24 pm - at Reuters
RLPC-Fidelity National Information seeks loan
3:20 pm - at Reuters
Fed accepts $16.43 bln bids at $25 bln TSLF auction
2:46 pm - at Reuters
Natus Medical Announces Completion of Public Offering
1:22 pm - Business Wire
Cox Communications launches $1 bln 2-part sale-IFR
12:19 pm - at Reuters
New Issue-Hubbell Inc sells $300 mln in 10-yr notes
11:47 am - at Reuters
JP Morgan names EMEA equity syndicate head
10:18 am - at Reuters
Cox Communications to sell $1 bln debt in 2 parts
9:38 am - at Reuters
New Issue-Cleco Power sells $250 mln in 10-yr notes
8:22 am - at Reuters
UPDATE - India Tata Motors shares trip on rights issues plan
6:50 am - at Reuters
India Tata Motors shares trip on rights issues plan
3:16 am - at Reuters
Market Chatter -- Corporate finance press digest
3:02 am - at Reuters
Australia OneSteel plans return to US bond-source
2:46 am - at Reuters

Wednesday May 28, 2008

Greek shipping firm Safe Bulkers IPO prices at $19
8:33 pm - at Reuters
GM Building sale may calm property investor nerves
7:42 pm - at Reuters
UPDATE - Goldman pulls Liberty Lane IPO, deal a tough sell
7:13 pm - at Reuters
New Issue-International Paper sells $3 bln in 3 parts
6:31 pm - at Reuters
New Issue - Moog sells $200 mln in 10-yr notes
6:23 pm - at Reuters
New Issue-Telecom Italia unit sells $2 bln in 2 parts
6:17 pm - at Reuters
International Paper sells $3 bln in 3 parts - IFR
6:14 pm - at Reuters
New Issue-CSC Holdings sells $500 mln in 7-yr notes
5:58 pm - at Reuters
New Issue-Rexam sells $550 mln in 5-year global bonds
5:50 pm - at Reuters
ACE sells remaining stakes in Aeroplan, Jazz Air
5:29 pm - at Reuters
New Issue-American Express Credit $1.75 bln 5-yr MTNs
4:12 pm - at Reuters
American Express Credit sells $1.75 bln 5-yr notes
3:57 pm - at Reuters
International Paper launches $3 bln debt in three parts
3:55 pm - at Reuters
New Issue-Cardinal Health sells $300 mln in 5-yr notes
3:26 pm - at Reuters
Pemex Project Funding Master Trust launches $1.5 bln debt
3:22 pm - at Reuters
Telecom Italia launches $2 bln debt in 2 part sale
2:55 pm - at Reuters
Nucor sells $1 bln debt in 3 parts - source
2:46 pm - at Reuters
American Express Credit launches $1.75 bln 5-yr notes
1:53 pm - at Reuters
Deere ups dividend, share buyback authorization
11:45 am - at Reuters
New Issue-IBM Int'l Group Capital sells $1.5 bln sr floaters
11:38 am - at Reuters
UPDATE - Rating agencies may face registration in EU
11:36 am - at Reuters
Telecom Italia to sell $2 bln debt in 2 parts - source
10:10 am - at Reuters
Freddie Mac sells $1 billion in bills
9:52 am - at Reuters

Chinese Initial Public Offering Indicator (Xinhua Finance and Milken Institute)

2008-06-01T19:58:00.000-07:00

Xinhua Finance, in partnership with the Milken Institute, one of the world's leading economic and financial research think tanks, calculates a set of eight sophisticated economic indicators that give investors and firms valuable new information about the Chinese financial markets. This below is the one related to Chinese IPO:

Chinese Initial Public Offering Indicator (Xinhua Finance and Milken Institute)

March 27, 2008

The IPO indicator is a market-capitalization-weighted performance measure based on IPOs of Chinese companies. Updated monthly, the indicator tracks the performance of A and B shares listed on the Shanghai and Shenzhen stock exchanges and H shares listed on the Hong Kong Stock Exchange.

February 2008: 305.0
January 2008: 293.6
Month-to-month change: 3.9%
February 2007: 231.8

Highlights

February's IPO indicator recouped some of the previous monthfs losses, showing a moderate increase of 3.9 percent, from 293.6 in January to 305.0. The indicator reflects a 31.6 percent increase over the period last year.

Analysis

Nine equities were added to the indicator and 10 were deleted, bringing the February total to 123. Of the 114 equities included in the previous two months, 97 rose in price and 17 fell.

The basic materials sector showed solid performance in February. Western MiningiA share, 601168j, China Molybdenum (H share, 3993), and Xinjiang Xinxin (H share, 3833) together accounted for 35 percent of the increase in the indicatorfs value. Xinjiang Goldwind (A share, 002202), a science-and-technology firm specializing in wind-power generation, showed the greatest loss in market capitalization among all stocks in the indicator. The rebound from the January indicatorfs dramatic drop in value showed that investors are somewhat less pessimistic about future market performance after recent corrections in the Chinese stock markets.

Download Background Brief

Download Fact Sheet

Indicator Archive

Methodology

A stock's float-adjusted market capitalization over time forms the basis for indicator calculations. Stock dividends, stock splits, special dividends, share consolidations, repurchases, spin-offs and combination stock distributions may trigger adjustments to the indicator values. Only companies incorporated and domiciled in mainland China that go public on the Shanghai, Shenzhen and Hong Kong stock exchanges are included.

Time Period Coverage and Frequency

Sources of Data

The real-time and historical trading data used in the construction of this indicator are provided by Xinhua Finance and Bloomberg; underlying information used to calculate the float ratio is obtained from a variety of sources, including Xinhua Financefs subsidiary Mergent, stock exchanges, regulators, and the companies themselves. Corporate actions are sourced from Xinhua Finance, regulatory filings, and news services.

Source: MilkenInstitute.org

Raymond James recent IPO transactions as of May 31, 2008:

2008-06-01T19:38:00.000-07:00

Raymond James recent IPO transactions as of May 31, 2008:
Source: Raymond James - Public Offering Center

Company Name	Deal Type	Company Sector
Recent Transactions Click on company name for link to prospectus if available.

May 2008
Magellan Midstream Holdings L.P.	Block trade of registered shares	Midstream Suppliers
Natus Medical Inc.	Follow-on offering	Medical Supplies & Devices
Washington REIT	Follow-on offering	REITs
PrivateBancorp, Inc.	Preferred equity offering	Banking (Southeast & Southwest)
New York Community Bancorp	Follow-on offering	Banking (Northeast & Mid-Atlantic)
Hersha Hospitality Trust	Follow-on offering	REITs
Range Resources Corp.	Follow-on offering	Exploration and Production
April 2008
Teekay LNG Partners L.P.	Follow-on offering	Midstream Suppliers
BioMed Realty Trust Inc.	Follow-on offering	REITs
NGP Capital Resources Company	Follow-on offering	Exploration and Production
Chesapeake Energy Corp.	Follow-on offering	Exploration and Production
Neutral Tandem Inc.	Secondary offering	Telecommunications Services
March 2008
Saul Centers, Inc.	Preferred equity offering	REITs
Health Care REIT, Inc.	Follow-on offering	REITs
Kinder Morgan Energy Partners L.P.	Follow-on offering	Midstream Suppliers
Feburary 2008
Senior Housing Properties Trust	Follow-on offering	REITs
XTO Energy Inc.	Follow-on offering	Exploration and Production
SemGroup Energy Partners L.P.	Follow-on offering	Midstream Suppliers
EV Energy Partners L.P.	Block trade of registered shares	Exploration and Production
January 2008
Williams Pipeline Partners L.P.	Initial public offering	Midstream Suppliers
December 2007
StoneMor Partners L.P.	Follow-on offering	Death Care
Nuance Communications, Inc.	Follow-on offering	Communications Software
Senior Housing Properties Trust	Follow-on offering	REITs
Energy Transfer Partners L.P.	Follow-on offering	Midstream Suppliers
Williams Partners L.P.	Follow-on offering	Midstream Suppliers
Hologic Inc.	Convertible debt offering	Medical Supplies & Devices
Goodrich Petroleum Corp.	Follow-on offering	Exploration and Production
Kinder Morgan Energy Partners L.P.	Follow-on offering	Midstream Suppliers

The above list of companies is for informational purposes only and does not constitute a recommendation to buy, sell, hold, or otherwise trade any of the securities issued by such companies. You should seek your own professional advice as to the suitability of any investment in any company referenced on this website. This website is neither an offer to sell, nor a solicitation of an offer to buy, securities issued by the companies listed above.

Benefits of Going Public (source: Toronto Stock Exchanges (TSX))

2008-06-01T19:24:00.000-07:00

According to Toronto Stock Exchanges (TSX), there are many benefits to taking your company public, including:

Access to capital and future financing opportunities

Going public provides your company with equity financing opportunities to grow your business - from expansion of operations to acquisitions.

The issuance of public shares will expand your investor base, and will help set the stage for secondary equity financings, including private placements. As well, issuers often receive more favorable lending terms when borrowing from financial institutions.

Increased visibility and prestige

Going public enhances your company's visibility. Greater public awareness gained through media coverage, publicly filed documents and coverage of your stock by sector investment analysts can provide your company with greater profile and credibility. Ultimately, this will result in a more diversified group of investors following your company, which may increase demand for your company's shares and thus increase your company's value.

Liquidity for shareholders

Becoming a public company establishes a market for your company's shares, providing your investors with an efficient and regulated vehicle in which to trade their own shares. Greater liquidity in the public market can lead to better valuation for shares than would be seen through private transactions.

Create employee incentive mechanisms

Your employees can participate in the ownership of your company and benefit from being a shareholder. Stock options and employee share purchase programs are a good mechanism for compensating your employees without depleting cash reserves.

This can serve to ensure stronger employee commitment to your company's performance and success. Share options in a public company have an immediate and tangible value to employees, especially as a recruitment incentive.

Facilitate growth

As a public company, your shares can be utilized as an acquisition currency to acquire target companies, instead of a direct cash offering. Using shares for an acquisition can be a tax efficient and cost effective vehicle to finance such a transaction. This can also improve your ability to complete mergers and acquisitions in a more timely and cost-effective manner.

Source: http://www.tsx.com/en/listings/listing_with_us/benefits/index.html

Foreign IPOs

2008-06-01T18:56:00.000-07:00

According to IPOHome:
Foreign IPOs so far accounted for 18% of this year IPO proceeds.

Foreign IPOs in 2008
Company	Ticker	Location	Offer Date	Deal Size	Return
Asia Time Corporation	TYM	Kowloon, Hong Kong	2/11/08	$3.4 mm	40%

ATA Inc.	ATAI	Beijing, China	1/28/08	$46.3 mm	59%

Cascal	HOO	Surrey, United Kingdom	1/28/08	$144.0 mm	-4%

Overture Acquisition	NLX	Grand Cayman KY1-1104, Cayman Islands	1/30/08	$150.0 mm	-9%

ReneSola	SOL	Jiashan, Zhejiang 314117, China	1/28/08	$130.0 mm	93%

Safe Bulkers	SB	Athens, Greece	5/28/08	$190.0 mm	-1%

Number of Deals: 6 Total Proceeds: $0.7 bil Source: IPOHome

Biggest IPOs for the last 12 months

2008-06-01T18:43:00.000-07:00

Biggest IPOs - According to IPOHome.com the biggest IPO for the last 12 months (up to June 01, 2008) is Visa. Here is the list:

Biggest IPOs (Last 12 Months)
	Company Name Symbol	Underwriter	Date	IPO Price	Current Price	Return	Deal Size*
1	Visa V	J.P. Morgan	3/18/2008	$44.00	$86.36	96.3%	$17,864.0

2	Blackstone Group L.P. BX	Morgan Stanley	6/21/2007	$31.00	$19.47	-37.2%	$4,133.3

3	MF Global Ltd. MF	Citi	7/18/2007	$30.00	$14.55	-51.5%	$2,921.4

4	American Water Works AWK	Goldman Sachs	4/22/2008	$21.50	$21.50	0.0%	$1,247.0

5	Och-Ziff Capital Management OZM	Goldman Sachs	11/13/2007	$32.00	$20.64	-35.5%	$1,152.0

6	Cosan Limited CZZ	Credit Suisse	8/15/2007	$10.50	$11.78	12.2%	$1,050.0

7	Intrepid Potash IPI	Goldman Sachs	4/21/2008	$32.00	$49.16	53.6%	$960.0

8	VMware VMW	Citi	8/13/2007	$29.00	$68.67	136.8%	$957.0

9	Liberty Acquisition Holdings LIA	Citi	12/6/2007	$10.00	$9.19	-8.1%	$900.0

10	Giant Interactive Group GA	Merrill Lynch	10/31/2007	$15.50	$14.69	-5.2%	$886.6

11	Sapphire Industrials Corp FYR	Citi	1/18/2008	$10.00	$9.23	-7.7%	$800.0

12	Trian Acquisition I Corp. TUX	Deutsche Bank	1/24/2008	$10.00	$9.24	-7.6%	$800.0

13	SandRidge Energy SD	Lehman Brothers	11/5/2007	$26.00	$55.00	111.5%	$746.2

14	EnergySolutions ES	Credit Suisse	11/14/2007	$23.00	$25.40	10.4%	$690.0

15	DuPont Fabros Technology DFT	Lehman Brothers	10/18/2007	$21.00	$20.24	-3.6%	$640.5

16	Orbitz Worldwide OWW	Morgan Stanley	7/19/2007	$15.00	$7.76	-48.3%	$510.0

17	El Paso Pipeline Partners EPB	Lehman Brothers	11/15/2007	$20.00	$22.91	14.6%	$500.0

18	Chimera Investment CIM	Merrill Lynch	11/15/2007	$15.00	$13.86	-7.6%	$500.0

19	Genpact Limited G	Morgan Stanley	8/1/2007	$14.00	$14.50	3.6%	$494.1

20	Hicks Acquisition Company I TOH	Citi	9/28/2007	$10.00	$9.26	-7.4%	$480.0

21	Triplecrown Acquisition TCW	Citi	10/22/2007	$10.00	$9.19	-8.1%	$480.0

22	United Refining Energy Corp. URX	Deutsche Bank	12/12/2007	$10.00	$9.21	-7.9%	$450.0

23	Babcock & Brown Air LTD FLY	Morgan Stanley	9/26/2007	$23.00	$13.99	-39.2%	$430.0

24	Virgin Mobile USA VM	Lehman Brothers	10/10/2007	$15.00	$3.58	-76.1%	$412.5

25	SP Acquisition Holdings DSP	UBS Investment Bank	10/11/2007	$10.00	$9.23	-7.7%	$400.0

Source: IPOHome; http://www.ipohome.com/marketwatch/biggest.asp

2005-03-10T15:06:00.000-08:00

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