Hong Kong IPO For China Railway: $2bil

China Railway Signal Prepares for $2 Billion Hong Kong IPO
State-owned China Railway Signal & Communication, which makes the signal systems used by China’s train network, plans to start taking orders for an up to $2 billion Hong Kong initial public offering next week in the biggest float by a mainland company since the Chinese markets’ rout.

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Broker-Dealers and Bankers Bolster Use of Uber In Pre-IPO Lobbying

The current over-bubbly Silicon Valley “Unicorn” wave, which advances the notion of ‘stay private’ and eliminates the need to take a company public when there is an over-abundance of private equity cash available to prop up the so-called enterprise value, has led to a dearth of IPO deals and by extension, has crimped the wallets of brokerdealers and investment bankers who garnish big fees and commissions from the initial public offering process. Have no fear, to win over ride-sharing whale Uber in advance of their ultimate IPO, Bankers are pulling out the stops.

Wall Street bankers and broker-dealers are notorious for climbing over walls to win over whales in advance of the ultimate monetization event. In the case of Uber, the biggest Unicorn of them all, with a private market valuation of more than $50billion, JP Morgan, Goldman Sachs and other major investment banks have launched a pre-IPO lobbying campaign by banning the ubiquitous line-up of black car services esconsed outside  their palatial Wall Street homes, and instead, they are offering their brokers special compensation to embrace the use of Uber so as to win over the senior executives who will decide on this decade’s potentially biggest initial public offering mandate for investment bankers.

f7622be21d3caa14_rolls_eyes.xxxlargeIn a July 10  NYT story by Nathaniel Popper, which has been re-purposed by tens of dozens of media outlets, we give credit where credit is due and share the following excerpt from Popper’s column:

“..The latest reminder came this week when JPMorgan Chase announced that it would reimburse all of its employees for rides taken with Uber — offering access to “Uber’s expanding presence and seamless experience,” the company said in a news release.

JPMorgan made its decision long after other parts of corporate America were already hailing cars through the California start-up. But banks have recently shown a fondness for the service — with Goldman making the company part of its official travel policy in late May and Morgan Stanley putting out its own news release about its Uber use late last year.

Bank experts were quick to note that these moves come as the banks are jockeying to win a coveted spot managing Uber’s initial public offering — one that is not yet scheduled but that is assumed to be coming in the not-too-distant future. The I.P.O. for Uber, whose fund-raising so far has pegged its valuation at $50 billion, will most likely be the blockbuster I.P.O. in whatever year it takes place.

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A spokeswoman for JPMorgan said that the Uber news release this week had nothing to do with an I.P.O. and was instead part of the bank’s broader business relationship with the company. It does, though, fit squarely within a hallowed tradition of banks going to sometimes amusing lengths to secure a prized initial offering and the significant fees and reputational lift that it can provide.

“On the margin, sometimes the little incremental thing will make the difference,” said Lise Buyer, who advises start-ups looking at initial offerings. “Anything that a bank can do on the margin to improve their odds will probably be useful.”

The softer side of the sales pitch has taken on many forms over the years. When Amazon.com was going public, Ms. Buyer said that banks presented their pitch books to the company in the form of bound books, to celebrate Amazon’s book-selling roots. Other bankers have made humorous videos about the company they were proposing to bring to the stock market.

One of the most storied practitioners of the hard and soft sell of potential clients was the JPMorgan banker Jimmy Lee, who died unexpectedly last month.

Mr. Lee placed a G.M. car in the lobby of JPMorgan’s headquarters on Park Avenue when General Motors executives came in to consider whether to use the bank for the carmaker’s return to the public markets after the financial crisis. (JPMorgan participated.)

A few years later, Mr. Lee was in a custom-made Facebook hoodie — a sharp departure from his normal pinstripe suit — when Mark Zuckerberg visited JPMorgan before his company’s initial offering. (The bank took part in that one, too.)

These sorts of efforts have a well-grounded logic for the companies shopping for a bank. A banker taking a company public has to sell the shares of the company to investors — and thus needs to show an understanding of what the company does.

For the full story at the NY Times, click here

French BrokerDealers In Drivers Seat With Europcar IPO

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Brokerdealer.com profiles that Europcar, a French rental car company, said on Monday that it planned to sell 854.5 million euros, or about $963 million, in shares in an initial public offering in Paris this month.

Europcar said it hoped to price its shares between €11.50 and €15 and to begin unrestricted trading on the Euronext exchange on June 26. The company announced in May that it was seeking permission from regulators to pursue an I.P.O.

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Europcar expects to sell shares to institutional investors internationally and in France, and to retail investors in France. If there is sufficient interest, a minimum of 10 percent of the offering will be sold to retail investors, it said.

Deutsche Bank AG, Goldman Sachs Group Inc. and Societe Generale SA are among the banks managing the IPO.

To find out more, read this Bloomberg article. 

Broker Dealers Prepare For Freaky Fast Delivery IPO Courtesy Of Jimmy John’s

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Jimmy John’s is a franchised sandwich restaurant chain, specializing in “freaky fast” delivery and is based out of Champaign, Illinois. Jimmy John’s is currently owned by Jimmy John Liautaud and Weston presidio. Brokerdealer.com blog update profiles as this sandwich restuarant chain reportedly gears up to launch an IPO. The chain has been around since 1983 but has only recently grew in popularity, currently there are more than 2,000 locations in 43 states. This Brokerdealer.com blog update is courtesy of Reuters’ article, “Exclusive: Gourmet sandwich chain Jimmy John’s prepares IPO – sources“, with an excerpt below. 

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Jimmy John’s Franchise LLC is preparing for an initial public offering that could value the popular U.S. gourmet sandwich chain at more than $2 billion, including debt, according to people familiar with the matter.

Jimmy John’s, which is owned by founder Jimmy John Liautaud as well as private equity firm Weston Presidio, is interviewing investment banks to serve as underwriters for an IPO that could come later this year, three people said.

Jimmy John’s has annual earnings before interest, tax, depreciation and amortization of roughly $150 million, the people added.

The sources asked not to be identified because the deliberations are confidential. Representatives of Jimmy John’s and Weston Presidio did not respond to requests for comment.

To continue reading about Jimmy John’s likely IPO happening later this year, click here.

Brace For Impact: China Nuclear Firm Plans For Explosive IPO

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Brokerdealer.com blog update profiles an explosive IPO coming from a top China nuclear power giant, China National Nuclear Power Corp. The nuclear power giant is hoping to raise as much as $2.16 billion, making it China’s largest IPO in the last five years. This IPO follows China’s recent efforts to move away from coal as power source. The China Securities Regulatory Commission approved the IPO on Friday, 22, 2014, and the launch date for CNNPC’s IPO is scheduled for June 2, 2015. This blog update is courtesy of the Wall Street Journal’s article, “China Nuclear Firm Plans Biggest Domestic IPO in 5 Years” by Yifan Xie, with an excerpt below.

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China National Nuclear Power Corp., one of the top two state nuclear-power giants, will raise as much as $2.16 billion in what is set to be the country’s largest domestic initial public offering in five years.

CNNPC plans to sell up to 3.89 billion new shares, or a quarter of its total, in the sale, according to its IPO prospectus, filed to the Shanghai Stock Exchange on Monday. The offering’s expected launch date is June 2.

The share float is poised to be the largest in the domestic market since China Everbright Bank Co. raised $2.6 billion in Shanghai in August 2010, according to data provided by Dealogic.

China National Nuclear Group holds a 97% stake in CNNPC. About 40% of China’s total nuclear energy is generated by operators controlled by CNNPC. Excluding issuance-related fees, the firm will raise 13.4 billion yuan ($2.16 billion), according to the prospectus. CNNPC will allocate 4.18 billion yuan of the raised capital to replenish its holdings of cash, and will invest the rest in the construction of projects in Fujian, Zhejiang, Hainan and Jiangsu provinces. Citic Securities, UBS AG and China Securities are the underwriters for the deal.

To continue reading about this explosive new IPO about to hit the markets, click here.