Manchester United IPO

 

Manchester United IPO Soaring

 
manchester united IPO Manchester United IPOHere at PSE we often provide color on new issues and secondary offerings, and despite the fact that the newsy Manchester United IPO will be listed in Singapore, we still feel that it merits attention despite the deal not being approved yet.
 
About a week ago Manchester United reported record revenues and profits. Man U earned $217.6 million on revenues of $604.8 million. Debt has always been a concern for Manchester United and the Glazer family, but the net debt fell to $604.8 million.
 
Manchester United initially was formed in 1878 as the Newton Heath LYR Football Club. The club underwent a name change in 1902 to Manchester United, and now is arguably the most popular soccer team in the world.
 
In 1991, Manchester United went public on the LSE, and in a controversial 2005 deal, the team was acquired by Malcom Glazer for roughly $1.3 billion.
 

Manchester United IPO Increases Revenues

 
Now it seems as if the Glazer family is about to take advantage of the clubs popularity and it’s fan base that some consider to exceed 300 million people. Pending approval, the Manchester United IPO will have a two tier structure, with both voting and non voting shares.
 
Proceeds from the Manchester United IPO will be used to reduce debt and expansion in Asia.
 
At this point there are really no reads on how the deal will trade, but it wouldn’t be a surprise if the debt ridden Manchester United IPO did reasonably well during the first day because of the novelty to Asian investors. Just keep in mind that the clubs 1991 offering didn’t go so well. Back then, shares of Man U were down sharply after it’s first month of trading. This might surprise some U.S. investors because of the lack of publicly traded sports teams in America. However, sports clubs are common in Europe. Teams like Arsenal, Tottenham Hotspur and Lazio are just some examples of publicly traded sports teams.
 
Now here is the real question for U.S. IPO buyers. Can they get shares of the Manchester United IPO ? Probably not, and the reason is quite simple. Very few U.S. retail investors have international brokerage accounts. However, there can be access in the aftermarket through your local broker.Check out Manchester United IPO.
 
So stay tuned for more color on the Manchester United IPO, and it it trades, we will try to issue some aftermarket updates as well.

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Kazakhstan – IPO

IPO In Kazakhstan Could Be Risky


Kazakhstan IPO Kazakhstan IPOAn Kazakhstan – IPO is something that sounds foreign to the majority of investors. Oddly enough, some people relate Sacha Baron Cohen’s satirical Borat character to Kazakhstan instead of comparing the country to vast exports in uranium, oil and metal.

Back in the 1990′s we saw a wave of privatization in Europe, which spurred interest from U.S. investors, institutional and retail a like. Now we are seeing a potential trend starting in Central Asia.

Kazakhstan is planning to launch a “People’s IPO” to it’s tiny population of under 17 million. Multiple companies in Kazakhstan could be involved in the offering process. Now, even for hedge funds, an IPO in Kazakhstan could be risky, especially in their illiquid market. But could some of these potential jewels potentially trade in the U.S. markets ? Time will only tell, but if all goes well, a trend could be developing that could help commodity stocks across the board, all the way down from well known uranium stocks, to unknown mining penny stocks.

IPO Could Help Mining Stocks


Now this could be a political ploy, because there has been a wave of foreign investment in the Central Asian country, and only 5 to 15% of the shares are slated to be sold to locals at some point in 2012. Now remember, an IPO in Kazakhstan may not be front page news, but many experts frowned on Russian and Chinese offerings when they were in their capitalist infancies too.

So while we may not be able to offer insightful color on a specific IPO in Kazakhstan, we might see some sympathy plays develop in the penny stock arena based on this new foreign event.

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NEXON IPO – The Korean ZYNGA

NEXON Taking Off


NEXON NEXON IPO The Korean ZYNGAMany investors are frothing at the mouth in anticipation of the Zynga IPO, but how many of them have ever even heard of Nexon ? Well they better learn the name and learn it well.

Nexon is a Tokyo based publisher and developer of online games. Nexon was founded in South Korea in 1994 and only recently moved it’s HQ to Japan. Now I will be the first to admit that I am not exactly a gamer. I don’t know how to play Zynga’s Farmville and I have no clue on the functions of NX cash. But what I do know, is that Nexon has the potential to be a money making machine.

Back in April, Morgan Stanley and Goldman Sachs were hired as investment bankers for a potential Nexon IPO or rounds of financing. Nexon currently offers 30 plus different games with online roll playing game MapleStory being it’s most well known. The Zynga alternative has also reached more than than 1.1 billion players.

NEXON and ZYNGA Battling


Now let’s talk about revenues, many tech savvy industry insiders feel that Nexon is on pace to pass the $1billion revenue mark for 2011. These numbers are even more impressive considering that they have barely scratched the surface in North America, which is now their fastest growing market. But here is the key and it’s pretty simple. Nexon doesn’t rely on Facebook as heavily as it’s competitor Zynga does. In other words Nexon isn’t as impacted by paying Facebook credits as Zynga is.

Now at PSE we often provide quality color on IPO’s and secondary offerings, and it wouldn’t surprise many if both Zynga and Nexon were 50 or 60x oversubscribed when and if they go public. Just keep in mind that market conditions will obviously play a factor in when either of these deals actually trade, and right now these conditions are uncertain. I also hate to end on a sour note, but Nexon is an Asian company, and based on the performance of some of the recent super hot Chinese IPO’s, aftermarket trading will be volatile. Newer China based deals have been smashed recently, and the market has taken back the first day pops and then some, but regardless of your bias, add Nexon to your potential IPO list.

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GSVC – Playing the Facebook IPO ?

GSV Capital Corp – GSVC


gsvc1 GSVC Playing the Facebook IPO ?As many of you already know, social networking IPO’s have been red hot in the recent months, despite a broader market that has been sketchy at best. Recently, the  LinkedIn IPO (LNKD:NASDAQ) and Zillow (Z:NYSE) have made massive gains for investors who were lucky enough to get in at the offering price. IPO investors also have Zynga and Groupon to look forward to in the near future, but even these two major names pale in comparison to the mother load of all social networking stocks. Yes, of course it’s Facebook.

Now, here are a few ways to participate in Facebook by using existing equities before it comes public. The first one is Microsoft (MSFT:NASDAQ). MSFT owns stakes in many private companies, so the stake in Facebook really isn’t a surprise. Plus, MSFT has an enormous market cap already. So the Facebook position probably will be nothing more than a blip on the radar. The second company is Mail.ru (MAIL.LON), this is a name that isn’t familiar to many U.S. investors, but the company is also a large one and also probably won’t be impacted much by their impressive pre-IPO position. Mail.ru owns a little less than 2.5% of Facebook.

Now the third way to play Facebook makes a lot more sense when you think about it. Plus, the company is a name that most are not familiar with. However, when you look at GSV Capital Corp (GSVC:NASDAQ) it seems to make sense. GSVC is business development company that went public at $15 back in April, and as many BDC’s often do, shares traded down after the offering to below $10 in June. Later in the month, Michael Moe, GSVC‘s CEO and co-founder of ThinkEquity pulled of a major PR coup. Moe announced that GSVC had purchased 225,000 shares of Facebook at a cost of 29.28 per share. To put Moe’s purchase price in perspective, Facebook is worth $87.5 billion at $35 per share, and it has traded at that price on SharesPost.

GSVC files to issue 100 Million in Stock


Kate Kelly of CNBC recently reported that Facebook’s valuation could be as much as or even exceed $100 million on the IPO date and that is without counting a first day pop in the stock. So it seems safe to say at this point that Moe made a wise call on the transaction, and shares of GSVC responded trading up to $19.97 after announcing it’s Facebook stake. But, GSVC recently filed to issue as much as $100 million in stock, which is sizable considering that the company currently has a market cap of $52.5 million. This type of impending dilution has obviously weighed on shares of GSVC.

But, the purpose of this piece is not to debate Facebook’s valuation or even GSVC‘s for that matter. The purpose is to point out that GSVC will be traded on a momentum type basis leading up to the Facebook IPO. Now if this secondary offering is somehow canceled, due to market conditions, we could see a nice rally in GSVC, solely based on short covering. We could also see pure hype move GSVC higher as it did recently, and the closer we get to the Facebook IPO, the more exposure GSVCwill get, especially if Facebook resets it’s valuation higher or if Moe adds another high profile deal to the portfolio.

So add GSVC to you list of stocks to watch, but it’s probably wise to let the dust clear from the upcoming secondary offering before considering acting. Just keep in mind that GSVC has great potential to mimic the interest of Facebook. Even after the offering, GSVC will still have a small market cap and a relatively low share price for aggressive types to trade from both a long and short basis.

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Dunkin Brands IPO Plays Under $15

dunki Dunkin Brands IPO Plays Under $15

Dunkin Brands IPO – DNKN


As many of our readers already know, we have highlighted Dunkin Brands and other coffee stocks several times in the past month or so. From what we are hearing so far at PSE, the pending Dunkin Brands IPO should be size-ably oversubscribed. So just like many other anticipated IPO’s of the past, the pure anticipation of the Dunkin Brands deal can easily influence the shares prices of coffee stocks, especially small cap and penny stock issues.

Right now, many investors don’t realize that coffee is now the best selling product at Dunkin Brands. And while DNKN still makes doughnuts and owns Baskin Robbins, the anticipation of the offering could potentially impact several coffee related names. For now, we will highlight four. So if you can’t get Dunkin Brands IPO shares and are looking for alternatives or sympathy plays, check these names out. They are listed below:

Dunkin Brands Ipo Compliments JAMN


Jammin Java (JAMN:OB) This coffee distributor stock doesn’t have retail outlets and has run up on questionable PR’s only to fall back. However, it may have one more run in it if a promotion runs at the same time as the Dunkin IPO. JAMN also has a wide following and despite the lack of substance, shares are somewhat oversold.

Caribou Coffee Company (CBOU:NASDAQ) CBOU operates 534 coffee house and has sort of been a small cap darling this year with the advances made in the coffee sector. CBOU is exactly the type of stock that could have it’s valuation reset if Dunkin Brands trades considerably higher. Keep in mind that CBOU has consistent revenues is profitable and had a smaller market cap than JAMN just a short time ago.

Krispy Kreme (KKD:NYE) We have profiled KKD before and touched on it’s comparison to Dunkin Brands. KKD is not a true coffee play, but could catch attention from momentum traders based on KKD’s impressive earnings turnaround, small market cap and past comparisons to Dunkin Doughnuts products. There is some resistance at $10 though, but keep KKD on your stock list.

Baristas Coffee (BCCI.PK) This a super speculative pink sheet coffee chain with a drive up, Hooters type baristas twist. BCCI does generate a small amount of revenue, and bottom fishing penny stock traders could step in after it’s recent decline. Odds are that BCCI doesn’t participate in the Dunkin Brands sympathy trade, but is still worth adding to your penny stock list on a just in case basis.

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