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Trio of IPOs set to hit market
A chemical producer, a bank holding company and a chipmaker are ready to make their market debut.
NEW YORK (CNNMoney.com) – Three companies are on tap to go public this week, and could raise about $650 million if all the deals are priced at the high end of their estimated range. Here's a look at IPOs on tap for this week:
Home Bancshares offers commercial and retail banking services through five community bank subsidiaries located in Arkansas and Florida. The company, based in Conway, Ark., plans to sell 2.5 million shares at an estimated price of $16 to $18 a share. It expects to list on the Nasdaq under the symbol "HOMB". Home Bancshares said it plans to use the money raised from the offering for general business purposes. Techwell designs and sells semiconductors that convert analog video signals into digital form. The chips can be found in consumer electronics, as well as in security surveillance systems. The company expects to sell 5.5 million shares at a forecast range of $11 to $13 a share and list on the Nasdaq under the symbol "TWLL". San Jose, Calif.-based Techwell said it intends to use the money raised from the IPO for a broad range of business purposes and said it may use some of the proceeds to acquire or invest in complementary technologies or businesses. Hexion Specialty Chemicals is in the business of producing thermosetting resins, which are found in paints, coatings and other adhesives. The Columbus, Ohio-based firm expects to sell 19 million shares at an estimated price of $25 to $28 a share and list on the New York Stock Exchange under the ticker "HXN". Hexion said it intends to use the money generated by the IPO to pay back debt. ------------------- Related: Does the world need another Vonage? |
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