BioAmber Files For $150 Million IPO | Chemical & Engineering News

Renewable chemicals start-up BioAmber hopes to raise up to $150 million in an initial public offering (IPO) of stock. The firm’s first product is succinic acid, a fermentation-derived intermediate that is also being pursued by several other companies.

BioAmber says its industrial biotechnology process yields cost-competitive replacements for petroleum-derived chemicals. Succinic acid can be a raw material for plastics, food additives, and personal care ingredients and a building block for other intermediates including 1,4-butanediol (BDO). BioAmber says it is also developing biobased adipic acid and caprolactam, both used in the production of nylon.

via BioAmber Files For $150 Million IPO | Chemical & Engineering News.

Bain Capital Ventures Disconnects From LinkedIn – Venture Capital Dispatch – WSJ

By Scott Austin

Bain Capital Ventures is giving its limited partners some LinkedIn liquidity as it looks to raise a new venture capital fund.

It’s nearly been six months since LinkedIn’s IPO on May 19 on the New York Stock Exchange, and that means its institutional investors can start dumping their shares.

As soon as LinkedIn’s six-month post-IPO lockup period expires next Monday, the venture firm is dumping its entire 4.3% stake, or 3.7 million shares, through a secondary offering. That would net the firm roughly $277 million based on LinkedIn’s closing price of $74.86. Bain, which co-led LinkedIn’s $76 million Series D round in 2008 at a valuation of just over $1 billion, already sold $29.4 million worth of stock in the IPO at a price of $45.

So it will likely gain more than $300 million altogether on behalf of LinkedIn, whose market capitalization currently stands at more than $7 billion. The sale doesn’t necessarily mean Bain believes LinkedIn has a bleak future. Venture firms’ decisions to sell post-IPO stock or distribute shares to their limited partners vary depending on what the LPs want.

via Bain Capital Ventures Disconnects From LinkedIn – Venture Capital Dispatch – WSJ.

UPDATE 1-InvenSense prices IPO at $7.50/unit | Reuters

Tue Nov 15, 2011 8:21pm EST

Nov 15 (Reuters) – Chipmaker InvenSense Inc priced its initial public offering at $7.50 per unit on Tuesday.

The company said it sold 10 million units for total proceeds of $75 million.

It had filed with U.S. regulators last week to sell up to 10 million common shares priced at $7.00-$8.50 each.

The California-based company had delayed its IPO in August, citing market conditions.

Shares are expected to begin trading on the New York Stock Exchange under the symbol ‘INVN’ on Wednesday.

Goldman, Sachs & Co and Morgan Stanley were lead underwriters for the offering.

via UPDATE 1-InvenSense prices IPO at $7.50/unit | Reuters.

peHUB » As It Links Out of LinkedIn, Bain VC Team Preps a Mega-Fundraise

Bain Capital just made more back on a secondary offering of LinkedIn shares than its entire 2009 fund raised.

What better time than the present to raise a new fund, then? peHUB has learned from sources that Bain Capital Ventures will raise a new fund, targeting between $500 million and $750 million.

Not a whole lot on Bain Capital Ventures’ returns are made public. According to Thomson Reuters’ data, the lone known LP investor is the Alaska Permanent Fund Corp. The VC most recently raised a fund in 2009, bagging about $525 million—one source indicated this was toward the lower end of their target range, but said it is likely they will top that figure next time out. Other Bain VC funds include two, $250 million funds, one from2001 and another from 2005, as well as a 2007 fund that reeled in $499.5 million, Thomson Reuters data show.

via peHUB » As It Links Out of LinkedIn, Bain VC Team Preps a Mega-Fundraise.

PBF Energy files for $100M IPO – BusinessWeek

PBF Energy Inc., an independent oil refiner and a subsidiary of PBF Energy Company LLC, on Monday filed a registration statement for a proposed initial public offering of Class A common stock.

The number of shares to be offered and the price range for the offering have not yet been determined. In its filing with the Securities and Exchange Commission, PBF set a maximum value of $100 million for the purpose of calculating its registration fee.

The company said it plans to begin the offering “as soon as practicable” and list the shares on the New York Stock Exchange under the symbol “PBF.”

via PBF Energy files for $100M IPO – BusinessWeek.

This Week’s Feast of IPOs: Worth a Bite? – SmartMoney.com

Wall Street is serving up its biggest buffet of initial public offerings in six months — but the menu isn’t especially appetizing.

Among nine issues slated to begin trading Wednesday is Angie’s List, a review site for local businesses. The company makes money by selling memberships and targeted advertising and says its reviews are more reliable than those offered on free sites: “Service providers can’t pay to be rated on Angie’s List, nor are they allowed to rate themselves.”

And if there’s one thing that will stop unscrupulous contractors from finding ways to unfairly gain customer trust, it’s being told that it’s not allowed.

Angie’s List boasts fast growth in memberships and revenues, but not nearly as fast as its growth in marketing expenses. In the first six months of 2011 the company posted a net loss of $25.8 million, versus a loss of $10.8 million a year earlier

via This Week’s Feast of IPOs: Worth a Bite? – SmartMoney.com.

The Associated Press: Caesars Entertainment restarts IPO plans

By Michelle Chapman, AP Business Writer

NEW YORK (AP) — Caesars Entertainment Corp., one of the world’s biggest casino companies, is restarting its plans to go public a year after it canceled its initial public offering.

The announcement comes as the IPO market is beginning to heat up again. While the stock market’s volatility in recent months dampened IPO buzz, the November launches of daily deals pioneer Groupon and online game maker Zynga may have whet investors’ appetites for IPOs once again.

This week alone there are nine IPOs expected to go to market, according to Renaissance Capital. It would be the busiest week since December 2010 if all of them price successfully.

While Caesars is potentially looking to get back into the IPO mix, its expectations are more muted than a year ago. The Las Vegas company said Tuesday that it seeks to raise up to $50 million. Last November, it had hoped to raise as much as $532 million before it pulled its IPO, citing market conditions.

The $50 million figure is subject to change as the managers of the IPO gauge investor interest.

Caesars owns or operates 52 casinos in the U.S. and overseas as of Sept. 30. Its brands include Harrah’s, Caesars and Horseshoe.

Apollo Management Group, led by buyout titan Leon Black, and Texas Pacific Group paid $17.1 billion and took on $12.4 billion in debt in 2007 to take Caesars, then known as Harrah’s, private. It was one of the biggest leveraged buyouts ever. At the time, private money was on a shopping spree for casino operators, considered hot targets for their cash-generating ability and real estate holdings. Then the financial crisis hit, taking with it many of the dollars that kept slot machines spinning and blackjack tables full.

via The Associated Press: Caesars Entertainment restarts IPO plans.

Is Killing Flash For Mobile = Killing Flash?

Do you think that the pervasiveness of mobile devices makes Adobe’s decision to stop developing Flash for mobile an effective Flash death sentence?

Adobe’s chief of developer relations Mike Chambers thinks the company didn’t do a good enough job explaining why it’s stopping work on Flash for mobile Web browsers.

So he took to his personal blog to make the case more clearly.

Here are the three big reasons he lists:

HTML5 is already almost universally supported in mobile browsers and Adobe realized that Flash would never get there. “Our goal has always been to obtain the same level of ubiquity for the Flash Player on mobile browsers, but, at the end of the day, it is something that did not, and was not going to happen.”

Apps made browser-based apps less necessary. “Essentially, users’ preferences to consume rich content on mobile devices via applications means that there is not as much need or demand for the Flash Player on mobile devices as there is on the desktop.”

Fragmentation. To make Flash work on mobile platforms, Adobe had to work with multiple hardware makers (Motorola, Samsung), platform companies (Google, RIM), and component manufacturers (like Nvidia). That took too much time. “This is something that we realized is simply not scalable or sustainable.”

via Adobe Engineer: Here’s Why We Killed Flash For Mobile.

Mario Monti -Yale Alum – Asked to Form a New Government in Italy – NYTimes.com

ROME — A day after accepting the resignation of Prime Minister Silvio Berlusconi, Italy’s president on Sunday asked Mario Monti, a former member of the European Commission, to form a government charged with helping defend Italy from Europe’s sovereign debt crisis.President Giorgio Napolitano formally chose Mr. Monti after a day of meetings with political leaders across the spectrum, almost all of whom had pledged their support for a government of technocrats to guide Italy’s post-Berlusconi future.

“The president of the republic,” Reuters quoted a statement from the presidential palace as saying, “has received Senator Mario Monti and conferred a mandate to form a government.”

via Mario Monti Asked to Form a New Government in Italy – NYTimes.com.

Prada Expected To List In Hong Kong + Samsonite gains approval for Hong Kong IPO – Telegraph

Samsonite, the luggage maker owned by private equity firm CVC Capital Partners and Royal Bank of Scotland, has received approval for an initial public offering from the Hong Kong stock exchange, Reuters reported citing a source.

Hong Kong has dominated the world markets for IPOs in recent years, raising a record-breaking $57.8bn (£35.6bn) last year as companies chose to go East over New York or London.

Prada, the fashion house, has applied for a Hong Kong initial public offering which could value the Italian firm at around €8bn and allow it to draw Asian investors. If successful, the flotation would make fashion brand the first Italian company to list in Hong Kong.

via Samsonite gains approval for Hong Kong IPO – Telegraph.