BWAY Holding Co., an Atlanta-based manufacturer of rigid metal and plastic containers, raised $150.6 million via its IPO, by pricing 10.04 million common shares at $15 per share ($16-$18 range). The IPO values BWAY at approximately $324 million. It will trade on the NYSE under ticker symbol BWY, while Goldman Sachs and Banc of America served as co-lead underwriters. Kelso & Co. acquired BWAY in 2003, and sold around 40% of its shares as part of the IPO.
The Carlyle Group, Clayton, Dubilier & Rice and Merrill Lynch have priced their secondary sale of 45 million shares of Hertz Global Holdings Inc. (NYSE: HTZ), at $22.25 per share. The $1 billion deal is expected to close Monday, and reduces the firms’ combined stake in Hertz from 71.59% to 55.45 percent.
CVR Energy Inc., a Sugar Land, Texas-based producer of ammonia and urea-ammonia nitrate, has raised its IPO target from $300 million to $375 million. It also said that it plans to offer 15.5 million shares, but did not specify a price range. Shareholders include Goldman Sachs and Kelso & Co., while Goldman and Deutsche Bank are serving as co-lead underwriters.
Dice Holdings Inc., an Urbandale, Iowa–based provider of specialized career sites and career fairs, has set its proposed IPO terms to 16.7 million common shares being offered at between $11 and $13 per share. Dice would be valued at approximately $805 million, if it were to price at the high end of its range. It plans to trade on the NYSE, with Credit Suisse and Morgan Stanley serving as co-lead underwriters. Dice has been owned by General Atlantic and Quadrangle Group since August 2005.
Einstein Noah Restaurant Group Inc., a Golden, Colo.-based franchisor and operator of Einstein Bros. and Noah’s bagel shops, raised around $90 million in its IPO. The company priced five million common shares at $18 per share ($19-$21 range), and will trade on the Nasdaq under ticker symbol BAGL. Morgan Stanley and Cowen & Co. served as co-lead underwriters. Greenlight Capital held a 94.1% pre-IPO position.
First Reserve has sold its remaining 48.3% stake in gas production and storage company Chart Industries Inc. (Nasdaq: GTLS), via a secondary public offering. First Reserve sold around 12.37 million at $21.25 per share, for approximately $263 million. First Reserve originally acquired a majority stake in Chart Industries in late 2005, for just over $111 million.
Geovera Insurance Holdings Ltd., a Bermuda-based residential property insurer, said that its $115 million IPO has been postponed indefinitely due to “market conditions.” JPMorgan and Merrill Lynch are serving as co-lead underwriters. Shareholders include Hellman & Friedman (65.1% pre-IPO stake) and Friedman Fleischer & Lowe (32.5 percent).
Lululemon Corp., a Vancouver-based athletic apparel designer and retailer, has set its proposed IPO terms to around 18.18 million common shares being offered at between $10 and $12 per share. It would be valued at around $903 million, were it to price at the high end of its range. Lululemon plans to trade on both the Nasdaq and TSX, with Goldman Sachs and Merrill Lynch serving as co-lead underwriters. Shareholders include Advent International, Highland Capital Partners and Brooke Private Equity Advisors.
SS&C Technologies Inc., a Windsor, Conn.-based financial management software provider owned by The Carlyle Group, has filed for a $200 million IPO. It plans to trade on the Nasdaq under ticker symbol SSNC, with Morgan Stanley, Credit Suisse and Morgan Stanley serving as co-led underwriters. SS&C reported 2006 revenue of approximately $205.5 million.