The underwriters for the stock offering are Credit Suisse, Morgan Stanley, Piper Jaffray, Cowen and Co., First Albany Capital, and ThinkEquity Partners LLC.
The company is selling 13.3 million shares and its principal stockholders are selling 4.2 million shares. The company will have an additional 51.9 million shares controlled by the company's principal owners, the estate of Mr. Walton, company chief executive Michael Ahearn, and Goldman Sachs.
The firm filed its notice to sell stock in June, but has amended the filing six times. Its recent filing said it expects to sell the stock next week.
Of the stock-sale proceeds, it said, $150 million will be spent on the plant in Asia and $30 million on plant start-up costs. An additional $26 million will repay debt and the rest will be for general expenses.
The company does not plan to pay a dividend.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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posted
Hey 10 - I don't know about a start-up per se', but TSSP was a privately held company and started trading back in June, and the first couple of weeks were great. I would expect the first few days to be good no matter what...JMHO
-------------------- Study before you buy, Sell before you think about it....
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I shouldn't have used the words "start up".. It's an established company...I should have said a privately held company that was going public... Thanks for the comment...I shall keep my eye on it for next week...Thanks...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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quote:Originally posted by 10of13: I shouldn't have used the words "start up".. It's an established company...I should have said a privately held company that was going public... Thanks for the comment...I shall keep my eye on it for next week...Thanks...
minding your Ps & Qs? lol... always a good thing...
seems like I recall a few of these doing really well...sorry, no tickers come to mind--I'm wore smooth out, tonight... Have to read up on this one to see whether I'm even in the ballpark...
with such big names involved, should be fairly easy to DD basics. If that doesn't pan out? I'd red-flag it, and monitor only ...
One major drawback? as new entity, no chart help...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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I think it depends on how it is perceived by the market, and what price they decide to make their offering at. I've been following GMKT, which is a South Korean online marketplace, that IPO'd back in June (or somewhere around there). Their initial offering was on the high end at 19 and they pretty quickly dropped down into the 13-14 range, hung there for a few months until good earnings came out and in the past few days they've jumped from 17 to 21. So their initial offering price was pretty close to where it should have been, but the market just wasn't paying attention and wasn't excited about the company's prospects.
Way I see it though, solar power and alternative energies are a much more popular and hyped market than an Asian tech company and it is probably easier to generate excitement about them. On the other hand, there seem to be a lot of these companies sprouting up lately... I went to IPOHome.com to check out FSLR, and the front page has a solar power company CSIQ (haha, "seasick", how's that for a ticker symbol) as their "featured IPO". I don't know if they can all take off, or if most of them will stagnate and one or two will fly.
If they price it on the low end, it might take off right away, if the price it too high it just drop and take months to get where it should be.
Just some thoughts... thanks for the heads up on this one, I will keep an eye on it..
would *really* appreciate if you could put those comments from that link into some sort of perspective. ie, pros n cons, tech analysis vs fundamental analysis...that sort of thing...
best wishes, fuzzie....
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Fair enough... I haven't been trading long and I only know the basics, I am here to learn and hopefully add some value to the discussions where I can.
After looking at some of the charts from the IPO stocks, I can see that the numbers on the page are deceiving because the IPO price isn't always the actual opening price. Most of the time the institutions get all the shares at the IPO price. But there is still money there sometimes (look at IPHS - first day (11/02) close 12.07, last 13.36, or HMIN - first day (10/26) close 22.50, last 25.55), potential for flipping, and - maybe a couple months in - great opportunities to get in low on undervalued or oversold companies like GMKT was for a long time.
As always you need to know what you are buying and don't just blindly invest...
posted
Well...I did grab a few when this started trading...been holding and as of today I am out...bought back in January at 28 and out at 68...just think it's going to start pulling back now...maybe I am completely wrong..
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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