Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
This week’s IPOs of New York-based “fine casual” hamburger chain Shake Shack and orphan drug developer Spark Therapeutics are drawing heavy investor demand, prompting both companies to expand their offerings early Wednesday.
Highly acquisitive consumer packaged goods company Post Holdings plans to raise US$240m in equity this week to help fund the US$1.15bn acquisition of privately held ready-to-eat cereal maker MOM Brands. Post launched the follow-on offering intra-day Monday before Wall Streeters fled to their homes in the afternoon as the Northeast braced for a powerful blizzard set to sweep across the region.
Cloud content management and storage company Box went to extra lengths last week to ensure its US$175m IPO provided a windfall for investors, securing an eleventh-hour cornerstone commitment from a major existing backer before pricing the deal amid overwhelming demand for the shares.