January 17, 2020 / 1:09 AM / a month ago

IFR US ECM Calendar

NEW YORK, Jan 16 (IFR) -


I-MAB (Cayman Islands/China, biotech) – $103.6m IPO. 7.4m ADSs (100% prim) at $14.00 versus $12-$15 marketing. JEFF, CICC. Investor IOIs for up to $48m, including $15m from C-Bridge Investment Thirteen. Separate concurrent $37m placement indicated to former collaboration partner Everest Medicines.

Lizhi (China, social media) – $45m IPO. 4.1m ADSs (100% prim) at $11.00 versus $11-$13 marketing. CITI. Weibo, Xiaomi, and other investors have indicated for $36m.

Velocity Financial (US, real estate finance) – $94,3m IPO. 7.25m shares (100% prim) at $13 versus $14-$16 marketing. WF, CITI, JMP.


January 16 (PM): Phoenix Tree (China, real estate/apartment rentals) – $175m IPO. 10.6m ADSs (100% prim) at $14-$16. CITI, CS, JPM. Existing holders/strategic investors have indicated for $100m of offering.

January 23: Minerva (Brazil, meat processing) - R$1.4bn FO. 95m shares (84% prim, 16% sec) versus R$14.40 at launch. BTG, JPM, BRAD, BBIN, ITAU.

February 3: Mitre Realty (Brazil, real estate) – R$887.3m ($212m) IPO. 45.5m shares (100% prim) at R$14.30-R$19.50. ITAU, BTG, BRAD. B3 – Brazil Stock Exchange “MTRE”.

February 4: Locaweb Servicos de Internet (Brazil, web services) – R$1bn ($240m) IPO. 59.9m (56% prim, 44% sec) at R$14.25-R$17.25. ITAU, GS, MS, XP. B3 – Brazil Stock Exchange “LWSA3”.

February 4: Petrobras (Brazil, oil & gas) – R$23.5bn/US$5.9bn FO. 734m shares/367m ADSs (100% sec) versus R$31.99/US$15.99 at file. CS, BAML, BRAD, BDB, CITI, GS, MS, XP. Roadshow expected to begin in late January. Each ADS represents two common shares. Selling shareholder is Brazilian government-owned development bank BNDES. (Reporting by Robert Sherwood)

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