Agria Corp., a Chinese provider of upstream agricultural solutions like corn seeds, sheep breeding products and seedling products, set its IPO terms to 17.15 million American depository shares at between $14.50 and $16.50 per share. It plans to trade on the NYSE under ticker symbol GRO, with Credit Suisse serving as lead underwriter. Shareholders include Brothers Capital Ltd. (84.6 percent), TPG (8.4 percent) and Dubai Investment Group (6.4%).
Akrion Inc., an Allentown, Pa.-based provider of batch-immersion and single-wafer wet cleaning systems for the semiconductor industry, has withdrawn plans for a $86.25 million IPO. No reason was provided. Akrion had planned to trade on the Nasdaq with Credit Suisse and Deutsche Bank serving as co-lead underwriters. This is the second such withdrawal for Akrion. The company filed for a $50 million IPO in 2004, but withdrew registration last December, citing “current market conditions.” Sunrise Capital Partners holds a 97.7 percent ownership position.
China Nepstar Chain Drugstore Ltd., the largest retail drugstore chain in China, has set its IPO terms to 20.6 million American depository shares being offered at between $11.50 and $13.50 per share. It plans to trade on the NYSE under ticker symbol NPD, with Goldman Sachs (Asia) serving as lead underwriter. Goldman Sachs holds a 30.3 percent pre-IPO position.
CVR Energy Inc., a Sugar Land, Texas-based producer of ammonia and urea-ammonia nitrate, raised $380 million in its IPO. The company priced 20 million common shares at 19 per share, compared to an earlier plan to sell 18.5 million shares at between $18 and $20 per share. It will trade on the NYSE under ticker symbol CVI, while Goldman Sachs and Deutsche Bank served as co-lead underwriters. Shareholders include Goldman Sachs and Kelso & Company.
Del Frisco’s Restaurant Group LLC, a Wichita, Kansas-based developer and operator of high-end steakhouses, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol FINE, with Piper Jaffray serving as lead underwriter. Del Frisco’s is owned by Lone Star Funds, which plans to retain a controlling interest post-offering.
Forum Oilfield Technologies Inc., a Houston-based maker of drilling and flow control products for oil and natural gas drilling and production applications, has filed for a $345 million IPO. It plans to trade on the NYSE under ticker symbol FOT, with Credit Suisse and JPMorgan serving as co-lead underwriters. SCF Partners helped form the company in 2005, and holds a majority ownership position.
ICx Technologies Inc., a Washington, D.C.-based provider of sensor solutions for the homeland security market, has set its IPO terms to five million common shares being offered at between $17 and $19 per share. It would have an initial market cap of approximately $636 million, were it to price at the high end of its range. ICx plans to trade on the Nasdaq under ticker symbol ICXT, with Lehman Brothers serving as lead underwriter. Wexford Capital is the company’s majority shareholder.
Lumber Liquidators Inc., a Toano, Va.-based direct retailer of hardwood flooring, has set its IPO terms to 11.5 million common shares being offered at between $12 and $14 per share. It plans to trade on the NYSE under ticker symbol LL, with Goldman Sachs and Merrill Lynch serving as co-lead underwriters. TA Associates holds a 34.6 percent pre-IPO position, based on a $35 million private equity infusion in December 2004.
Metals USA Holdings Corp., a metals service center operator owned by Apollo Management Group, has withdrawn registration for a $200 million IPO. No explanation was given. Metals USA had planned to trade on the NYSE, with Goldman Sachs, CIBC and Credit Suisse serving as underwriters.
Noah Education Holdings Ltd., a Shenzhen, China-based provider of interactive education content in China, raised $137.9 million in its IPO. The company priced 9.85 million American depository shares at $14 per share, which was significantly above its $9.80 to $11.80 per share offering range. It will begin trading on the NYSE under ticker symbol NED, while Deutsche Bank Securities served as lead underwriter. Shareholders include Baring Private Equity Partners, Lehman Brothers Commercial Corp. Asia Ltd. and Dynamic View Investments.
Symetra Financial Corp., a Bellevue, Wash.-based life insurance company, has set its IPO terms to 39.5 million common shares being offered at between $19 and $20 per share. It plans to trade on the NYSE under ticker symbol SYA, with underwriters including Merrill Lynch, Goldman Sachs, JPMorgan and Lehman Brothers. Shareholders include Vestar Capital Partners, Och-Ziff Capital Management, Highfields Capital Management, Caxton Associates, White Mountains Insurance Group and Berkshire Hathaway.
Ulta Salon, Cosmetics & Fragrance, a Romeoville, Ill.-based beauty retailer and salon operator, has raised $153.71 million in its IPO. The company priced around 8.54 million common shares at $18 per share ($17-$18 range), which gives it an initial market cap of approximately $1.02 billion. Ulta trade on the Nasdaq under ticker symbol ULTA, while JPMorgan and Wachovia Securities served as co-lead underwriters. Shareholders include GRP Partners (26.3 percent pre-IPO stake), Doublemousse BV (22.5 percent) and Oak Investment Partners (12.9 percent).