(Reuters) – Luxury lifestyle company Michael Kors Holdings Ltd (KORS.N: Quote, Profile, Research, Stock Buzz) raised the size of its initial public offering and priced it above the expected range, according to an underwriter.
In all, 47.2 million shares were sold at $20 each, generating proceeds of $944 million. At that price, the company is valued at about $3.82 billion.
Dec 12 (Reuters) – Luxury lifestyle company Michael
Kors Holdings’ shares are expected to fly off the shelves as
affluent shoppers continue to spend despite a gloomy economic
The Hong Kong-based company, named after fashion designer
Michael Kors — a judge on TV show “Project Runway” — is going
public at a time when U.S. investors are being highly selective
about their IPO investments.
By Joe Rauch and Brenton Cordeiro
(Reuters) – GMAC Mortgage, the mortgage arm of Ally Financial Inc, said on Friday it will stop buying new mortgage loans in Massachusetts that were made by other correspondent lenders and wholesale brokers.
GMAC said it will honor all commitments made with such lenders as of December 5, 2011 and will continue to service its existing customers and honor its contractual obligations as a servicer.
Dec 2 (Reuters) – Michael Kors Holdings Ltd, known for
its eponymous luxury lifestyle brand, filed with U.S. regulators
on Friday for an initial public offering of common stock that
values the company at as much as $3.63 billion.
The offering comes at a time when many companies are trying
to squeeze in their IPOs as the window of opportunity prised
open by Groupon’s listing last month closes with the
holiday season kicking off later this month.
Dec 2 (Reuters)- Zynga Inc, which plans to go public in two
weeks, on Friday slashed its value by more than 30 percent to
$9 billion, hoping to avoid the fate of other recent Internet
IPOs that have disappointed after stock market debuts.
The pricing values the maker of Facebook games as high as
$9.04 billion, whereas just two weeks ago a filing listed its
value, based on a third party assessment, at $14.05 billion.
Nov 16 (Reuters) – Delphi Automotive Plc raised
$530 million in its initial public offering — in a deal that
values the company much less than it had hoped for when IPO
plans were first being formed.
At the IPO price of $22 a share, the former General Motors parts unit that was once the largest U.S. auto supplier
is valued at about $7.22 billion. In May, people familiar with
the matter said the supplier could be worth $10 billion to $14
(Reuters) – Payment processor Vantiv Inc filed to go public on Thursday, as appetite for U.S. IPOs seems to be returning following daily deals website Groupon Inc’s (GRPN.O: Quote, Profile, Research, Stock Buzz) strong listing last week.
Ohio-based Vantiv, owned by Fifth Third Bancorp (FITB.O: Quote, Profile, Research, Stock Buzz) and buyout firm Advent International, filed to raise up to $100 million in an IPO of Class A common shares.
Nov 3 (Reuters) – Prepaid debit card company NetSpend
Holdings Inc reported a quarterly profit that beat
analysts’ estimates, helped by higher card revenues, and
forecast 2011 revenue at the lower end of its outlook range.
For the full year, the company sees revenue at the lower
end of its outlook range of $306 million to $314 million and
expects adjusted earnings of 45 cents to 47 cents a share.
Nov 3 (Reuters) Fertilizer company Rentech Nitrogen
Partners LP said it had priced its initial public
offering of 15 million common units at $20 apiece, the midpoint
of the company’s expected price range.
The IPO raised $300 million in proceeds. Rentech Nitrogen
had planned to price its offering between $19 and $21 per
Oct 26 (Reuters) – Automatic Data Processing
reported a higher quarterly profit helped by its core employer
services segment, but its shares fell as the company’s revenue
forecast for the year indicated a possible slowdown in growth.
ADP, the world’s largest payroll processor, forecast fiscal
2012 earnings to grow 8-10 percent. However, the company, which
reported a 13 percent jump in revenue in the first quarter,
expects a 7-9 percent revenue growth for the full year.