Posts Tagged ‘IPO’

Initial Public Offering (IPO)

For Initial Public Offering (IPO) information, including prospectuses, there are many sources, including:

  • PI Navigator
    Include IPO Prospectus in search criteria ( Example )
  • Bloomberg
    • Use Function CF (Company Filings) or CFS (Company Filings) to find prospectus or specific SEC form, e.g. 424B4 Search)
    • Use function IPO to get summary statistics on IPOs worldwide, data on individual IPOs, Bloomberg world IPO indices, and IPO news.
  • The London Stock Exchange provides various statistics including New Issues and IPO Summary spreadsheet.
  • Jay Ritter has an excellent web page of IPO data including data files from the appendices of several IPO papers.
  • The US Securities and Exchange Comission (SEC) has information on company registrations (required prior to IPO on US exchange) (See Researching IPOs on SEC site.)
    Company SEC filings can be accessed through the Search EDGAR facility

Twitter IPO (S-1) form

4 October 2013 2 comments

The Twitter SEC S-1 form (United States Securities and Exchange Commission Registration form) is available from PI Navigator (screenshot below).

The Twitter SEC S-1 form is also available directly from the SEC, however  PI Navigator is a very good database if you want to search company filings and has global coverage. (See Text searching non US company annual reports Dec 2010)

More on Twitter IPO:

Twitter announces IPO: The Pricing Game begins – applies corporate valuation techniques to the problem of pricing the Twitter IPO.

Twitter want to raise $1bn on its stock market debut (BBC News)

Twitter IPO S-1 form on PI Navigator (click to expand)

Twitter IPO S-1 form on PI Navigator (click to expand)

Manchester United IPO on NYSE

15 August 2012 1 comment

The recent (Aug 10 2012) Manchester United IPO (Initial Public Offering) illustrates the distinction between a company, as a legal entity, and its listing(s) on one or more stock exchanges.

  • Companies do not always list on their “home” market – Manchester United have chosen to list in New York (NYSE)
  • Companies occasionally have distinct classes of shares – for Manchester United there are Class A and Class B shares, both listed on NYSE on Aug 10 2012.
  • Companies can have a listing history – Manchester United was a PLC listed on the London Stock Exchange from Jun 7 1991 to 2005, then a private company, and now an NYSE-listed one.

The history of Manchester United shares is illustrated by searching on Datastream.

Datastream Navigator - Manchester United listings

Datastream Navigator – Manchester United (click to expand)

The first listing for Manchester United (952540) was on Jun 7 1991. This was followed by secondary listings (Primary Quote = No) on exchanges Frankfurt in 1997 and XETRA in 2000.  These three de-listed on June 22 2005 when the company went private. After a period as a private company there were two listings on the NYSE on Aug 10 2010: Manchester United CL.A (87312Q) (Major Security = Yes) and Manchester United CL.B (87407C) (Major Security = No).

Need More Information

BloombergBloomberg Professional is excellent giving access to lots of information on the company and its IPO. A predictive search for “manchester united” gives easy access to the current NYSE listing and previous LSE listing. Bloomberg also provide lots of business news on the IPO.

Datastream does not give access to information on the IPO. You can get the IPO prospectus, and any other filings documents, from PI Navigator, and financial information on the IPO from Thomson One Banker.

For balance – Manchester City Football Club is a private company, a subsidiary of Manchester City Limited, wholly owned by HH SHEIKH MANSOUR BIN ZAYED AL NAHYAN. [From FAME database for all UK companies, public and private]

Facebook IPO

Today is the Facebook IPO (Initial Public Offering) on the US NASDAQ exchange. Facebook has gone from being a private to a public company offering 421.23 Million shares at $38.00 each.

BloombergInformation available on Bloomberg includes:

  • FB US Equity – Bloomberg Ticker, US30303M1027 – ISIN, 30303M102 – CUSIP, B7TL820 US – SEDOL1, company identifiers from DES (Description)
  • GIP (Tick Price Chart) – intra day price chart (at time of writing high $45.00, low $38.00, and average $39.93)
  • SEC Form S-1 (Registration Statement) filed 1 Feb 2012 and other filings with the SEC (regulator) – Bloomberg function CF (Company Filings)
  • Analysts research (BRC) and estimates (EE)
  • and lots and lots of news on Facebook and its IPO

The Bloomberg IPO function shows that Facebook as by far the largest IPO this year.

If you want details of Mark Zuckerberg’s Facebook shares you need to look at the class-B shares – use Bloomberg’s MSH (Multiple Share Holdings) function.

Thomson ReutersThomson Research has 11 analysts reports on Facebook. (See Thompson Research Tips )

Thomson One Banker has details of the Facebook IPO in its deals module (see Deals information from Thomson One Banker ) and financials and financial market info in its company analysis module. [FB-O -TOB Ticker, C901820175- TOB key, 30303M102 – CUSIP, B7TL820 – SEDOL]

ValuationFor  informed comment on the valuation of Facebook see Facebook and “Field of Dreams”: Hoodies, Hubris and Hoopla from Aswath Damodaran’s Musings on Markets blog.

IPOs (Initial Public Offerings) – prospectuses

Thomson One Banker (Deals module) is a good way of getting a list of IPO deals but it often does not give access to the IPO prospectus. For an individual company this can be obtained from Thomson One Banker (Company Analysis) or Thomson Research – under Filings since the IPO prospectus is one of the documements that companies have to file with the regulators.

PI Navigator provides a search interface that can be used to search for all deals on an exchange within a chosen time period.

PI Navigator – IPO prospectus search – click to enlarge

Note the companies do not always choose to float on their local exchange. If in Thomson One Banker Deals you search for IPOs of UK companies then the results will include IPOs on the Nasdaq and other exchanges as well as London (Main market and AIM).

PI Navigator for Glencore IPO prospectus

Yesterday, we had a presentation on PI Navigator (aka Perfect Information) – a database providing access to company filings (annual reports, IPO prospectuses, director share dealings …) with worldwide coverage.

The Perfect Information (PI) team were very proud at being the first database to make the Glencore IPO prospectus available. (The prospectus is over 1600 pages, so they had to split it into two parts. See image below)

PI Navigator

PI Navigator – recent Glencore filings – Click to enlarge

The Glencore IPO has been much in the news recently. The size means that the company will become one of the largest UK listed companies, and therefore a member of the FTSE 100 at its next revision. (As one of the largest companies worldwide information on Glencore is also available through the Orbis database.)

For more information on PI Navigator, see previous blog post:

Deals information from Thomson One Banker

17 March 2011 2 comments

Thomson ReutersThe Thomson One Banker database deals module provides data on mergers and acquisitions (M&A), equity, bond and loan deals. The deal information is gathered by Thomson Reuters through their contacts, so there is no guarantee that every deal is included, and for some deals only limited information is available.

There is a brief library guide Thomson One Banker – Deals

For deals involving a specific company there is also the deals section within the Thomson One Banker company analysis module.

 Equity deal search

Demo video –  (There is a 20 second pause at when selecting SDC Deal no as a search item. TOB did not respond on the initial mouse click.)

Screen shot –