Apollo prepares 2018 IPO for ADT Corp, say sources: Reuters

Private equity firm Apollo Global Management LLC (APO.N) is preparing to take U.S. security company ADT Corp public at a $15 billion plus valuation, just over a year after buying it, sources familiar with the situation said on Thursday. The stock market listing could be the largest private equity-backed initial public offering since hotel company Hilton Worldwide Holdings Inc (HLT.N) went public with a $19.7 billion valuation in 2013. It would be a quick turnaround for Apollo, which bought ADT for roughly $7 billion in 2016 and merged it with Protection 1, a smaller U.S. peer it had previously acquired. The combined company was valued at $15 billion, including debt, Apollo said at the time. Boca Raton, Florida-based ADT could register for the IPO with the U.S. Securities and Exchange Commission (SEC) by the fall and go public at the end of 2018, one
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Mangrove Capital Partners raises $170 mln for fifth early stage fund

Mangrove Capital Partners said it raised $170 million for a fifth early stage fund targeting investments in Europe and Israel. The new fund matched the size of earlier funds and took two months to raise with 90 percent of the capital coming from returning investors, the firm said in a press release. Luxembourg-based Mangrove benefited from the 2013 IPO of Israel’s Wix.com, which turned an $8 million investment into $550 million, the release said. The firm now has more than $1 billion under management and a team of twelve, including partners in Berlin and Tel Aviv. It has invested in more than 130 companies since its founding in 2000.

Carrefour Brasil IPO seen pricing at low end of range, say sources: Reuters

Grupo Carrefour Brasil SA’s initial public offering could price at the bottom of a suggested price range later on Tuesday, reflecting concern over too stretched a valuation for Brazil’s biggest supermarket chain, three people familiar with the matter said. Late on Monday night, investors had placed less than twice the size of Carrefour Brasil shares on offer at the IPO, based on a price of 15 reais a piece, said the people, who requested anonymity to discuss the deal freely. The company and shareholders expected to raise up to 5.6 billion reais if the IPO were price at the ceiling of the range, or 19 reais per share. The separate debut offering of Grupo Biotoscana SA, a Colombia-based pharmaceutical firm, on Wednesday had investors willing to place three times the amount of shares on offer, at the mid-point of a 24.5 real-to-28.5 real price range, two of
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Landis+Gyr set to opt for IPO over straight sale of company, say sources: Reuters

Landis+Gyr is almost certain to opt for a planned public listing of its shares instead of a straight sale of the company, three sources familiar with the matter told Reuters. The Swiss smart meter maker, majority-owned by Japan’s Toshiba (6502.T), had pursued a “dual track” approach of preparing for an initial public offering (IPO) while leaving the door open for an outright sale. However, the company now appears set to go down the IPO track after the two final bidders for the company were not willing to match the price Toshiba expects to receive through the public listing, one of the sources said. “Because of the strong demand there’s a 99.9 percent chance the IPO will be completed,” another source said.
The sources declined to be identified because they were not authorized to speak publicly on the deal. A spokesman for Landis+Gyr said a simple sale of the
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Landis+Gyr set to opt for IPO over straight sale of company, say sources: Reuters

Landis+Gyr is almost certain to opt for a planned public listing of its shares instead of a straight sale of the company, three sources familiar with the matter told Reuters. The Swiss smart meter maker, majority-owned by Japan’s Toshiba (6502.T), had pursued a “dual track” approach of preparing for an initial public offering (IPO) while leaving the door open for an outright sale. However, the company now appears set to go down the IPO track after the two final bidders for the company were not willing to match the price Toshiba expects to receive through the public listing, one of the sources said. “Because of the strong demand there’s a 99.9 percent chance the IPO will be completed,” another source said.
The sources declined to be identified because they were not authorized to speak publicly on the deal. A spokesman for Landis+Gyr said a simple sale of the
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Gaming firm Razer seeks Oct HK IPO at up to $5 billion valuation, says source: Reuters

Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka-shing, plans to go public toward the end of October in an IPO that will value the company at up to $5 billion, a person familiar with the deal said on Wednesday. The company is considering a valuation range of between $3 billion to $5 billion, with a final decision on the size of IPO and its overall value depending on market conditions at the time of the deal, added the person, who couldn’t be named because details of the transaction aren’t public. Razer filed for the IPO late last month in a deal that Thomson Reuters publication IFR said could raise around $400 million. Razer declined to comment. The company was founded in 2005 by Min-Liang Tan and Robert Krakoff and has grown from producing a gaming mouse as its initial product
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Jost shares offered at 25-31 EUR/shr in Frankfurt listing: Reuters

German truck and trailer parts maker Jost set the price range for its private share placement at 25 euros to 31 euros ($28.66-$35.54) a share, Jost said on Wednesday. Based on the price range, Jost’s market value would amount to approximately 381 million euros to 441 million euros, Jost said. The private placement consists of up to 5.2 million newly issued ordinary bearer shares from a capital increase and up to 2.9 million existing ordinary bearer shares from the holdings of Cinven. In addition, up to 1.1 million shares from the holdings of its existing shareholder may be placed with investors in connection with a potential over-allotment. A listing would prove a positive turn for Cinven, which acquired a majority stake in Jost just weeks before the Lehman insolvency in 2008 and had to agree to a restructuring of the group’s finances in 2010 to avert looming insolvency.