The year’s first IPO — GlycoMimetics (GLYC), a biotech operator that develops treatments for sickle-cell diseases — came last Friday. And the deal was a good one, with the stock up about 13%.
However, this week really marks the official ramping-up of the IPO market, which went into hibernation during the holidays. Things still are a little on the slow side, with only four deals on tap, but here’s a look at each of these upcoming IPOs:
CHC Group (HELI)
Founded 60 years ago, CHC Group is the world’s largest commercial operator of helicopters (based on revenues), with a big focus on products for ultra-deepwater and deepwater drilling, as well as emergency medical services. CHC operates across 70 bases in 30 countries.
During the past five years, CHC Group has lost money, primarily because of goodwill impairment charges and interest due to the leverage from purchasing helicopter firms.
CHC Group intends on issuing 29.4 million shares on the New York Stock Exchange under the ticker “HELI” at a range of $16 to $18. Lead underwriters include JPMorgan (JPM), Barclays (BCS) and UBS (UBS).
Cypress Energy Partners (CELP)
Cypress Energy Partners is a master limited partnership that provides saltwater disposal and other environmental services to gas producers and trucking companies in the U.S. Cypress also provides services for pipeline inspection.
This a highly profitable MLP that brought in $284.5 million in revenues for the first nine months of 2013, which translated into $24.9 million in earnings.
Cypress Energy Partners plans to issue 3.8 million shares on the NYSE under the ticker “CELP” at a range of $19 to $21. Lead underwriters include Raymond James (RJF), Baird, Stifel (SF) and BMO Capital Markets (BMO).
EP Energy (EPE)
EP Energy is an independent exploration and production firm that targets unconventional onshore oil and natural gas properties in the United States. Its four main interests include the Eagle Ford Shale in south Texas, the Wolfcamp Shale in the Permian Basin in West Texas, the Altamont field in the Uinta Basin in northeastern Utah, and the Haynesville Shale in north Louisiana. Based on current estimates, the drilling inventory should last about 24 years.
On the financials side, for the first nine months of 2013, EP Energy brought in $1.13 billion in revenues, but net earnings only came to $14 million.
Still, the IPO should be a winner for Apollo Global Management (APO), which is recording a short turnaround — it purchased EP Energy back in 2012.
EP Energy plans to issue 40 million shares on the NYSE under the ticker “EPE” at a range of $23 to $27. Lead underwriters include Credit Suisse (CS) and JPMorgan.
RSP Permian (RSPP)
RSP Permian is an independent oil and natural gas company that has a focus on unconventional energy sources in the Permian Basin of West Texas. For the most part, the landholdings are adjacent to Midland, Martin, Andrews, Dawson and Ector counties. Over the past couple years, the firm has participated in the drilling and completion of 32 horizontal wells, 14 of which RSP operates.
Financials are pretty solid — $142.9 million in revenues for the first nine months of 2013 generated $50.3 million in operating income.
RSP Permian plans to issue 20 million shares on the NYSE under the ticker “RSPP” at a range of $19 to $21. Lead underwriters include Barclays; JPMorgan; Tudor, Pickering, Holt & Co.; Raymond James; RBC Capital Markets (RY) and UBS.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.