LOS ANGELES (AP) — One of the world’s top soccer clubs is set to make its stock market debut next week along with the companies behind Outback Steakhouse restaurants and the Carl’s Jr. and Hardee’s fast-food chains.
Manchester United Ltd., one of the most popular soccer clubs on the planet, is slated to go public with an offering that looks to bring in $300 million.
Bloomin’ Brands, which operates Outback, is looking to raise $300 million in its initial public offering.
CKE, which runs the two hamburger eateries, is eyeing a $200 million raise.
The timing of the IPOs coincides with the final week before many on Wall Street go on break until after Labor Day.
It also caps a summer IPO season that got off to a slow start due to the fallout from Facebook’s disappointing market debut.
Facebook shares began trading publicly on May 18 at the top of their projected IPO range, but ended up closing barely above their IPO price at $38.23 and have fallen sharply in the following weeks. They closed Friday at $21.09, down 45 percent from their starting price.
That has put a chill on the IPO market, and the next batch of market newcomers didn’t launch offerings until weeks later.
“Everybody was concerned about Facebook,” said Francis Gaskins, president of researcher IPOdesktop. “That took all the air out of the room for about five weeks.”
Since then, the IPO market has bounced back, with several technology companies and specialty retailers going public and doing well since their debut, Gaskins noted.
Retailer Five Below Inc. saw its shares close at a 55.9 percent premium to its debut price on July 19. A day later, the stock of travel-booking website Kayak jumped 28 percent in its first day of trading.
“There’s a big backlog of IPOs, and after Labor Day, as long as the markets don’t tank, the IPO market is expected to come back strongly,” Gaskins said.
Shares of Tampa, Fla.-based Bloomin’ are expected to be priced between $13 and $15 each. While shares of Manchester United are projected to be priced between $16 and $20 apiece.
CKE, based in Carpinteria, Calif., is expected to see its shares priced between $14 and $16 each.
Peregrine Semiconductor, a technology firm catering to wireless market, is looking to raise $83 million; Performant Financial, which handles collection services on unpaid loans, wants $150 million; and, Stemline Therapeutics, a biotech company, is eyeing a $42 million raise.
More Related Stories
- If Alex Pareene was a cable news executive...
- El Salvador court delays ruling on abortion case while woman's life hangs in the balance
- UK officials: Radical Islam behind London attack
- Pa. governor "can't find" any Latinos to work in his administration
- London machete attack could be linked to terrorism
- Conservative group blames military sexual assault on "Don't Ask, Don't Tell" repeal
- Lois Lerner, IRS disaster
- Donald Rumsfeld worried that marriage equality will lead to polygamy
- Experts: Fox News spying scandal a game-changer
- San Francisco Giant Jeremy Affeldt apologizes for homophobic past
- 9-year-old slams Rahm over Chicago schools
- Stockholm riots rage for third day
- Wall Street firm's "Golden Pitchbook" is totally sexist, full of lies
- Must-see morning clip: Toronto's eccentric and allegedly crack-smoking mayor
- Federal court strikes down Arizona abortion ban
- Jodi Arias: I deserve a second chance
- Oklahoma residents return home to pick up the pieces
- Florida man with connection to Tsarnaev killed by FBI
- FBI identifies 5 Benghazi suspects
- Here come the tornado truthers. Already
- Peace Corps to allow gay couples to volunteer together
Featured Slide Shows
The week in 10 picsclose X
- 1 of 11
Lisa Montgomery embraces her nephew Thursday after a tornado tore apart her home in Cleburne, Texas. The twister killed six people and destroyed entire swaths of the North Texas town.
Credit: AP/LM Otero
Jack McMahon, the defense attorney for abortion doctor Kermit Gosnell, speaks outside the Criminal Justice Center in Philadelphia Tuesday. His client was convicted of killing three babies in his clinic, and will serve multiple life sentences.
Credit: AP/Matt Rourke
A photo taken Monday captures Vice President Joe Biden's response to a Milwaukee second-grader's innovative proposal to end America's epidemic of gun violence. This guy!
Credit: AP/Jenny Aicher
Sen. Rand Paul, R-Ky., flanked by a grouper-eyed Michele Bachmann, addresses the IRS' admission that it targeted Tea Party groups in advance of the 2012 election. In an op-ed for CNN Thursday, the Kentucky senator slammed the president for his faux outrage.
Credit: AP/Molly Riley
Ousted IRS chief Steven Miller is sworn in on Capitol Hill Friday. Miller testified before the House Ways and Means Committee on the extra scrutiny the agency gave conservative groups applying for tax-exempt status.
Credit: AP/J. Scott Applewhite
Attorney General Eric Holder pauses as he testifies on Capitol Hill before the House Judiciary Committee Wednesday. Holder is under fire, among other things, for the Justice Department's gathering of phone records at the Associated Press.
Credit: AP/Carolyn Kaster
O.J. Simpson sits during an evidentiary hearing at Clark County District Court in Las Vegas, Nev., Thursday. Simpson, who is currently serving a nine-to-33-year sentence in state prison for armed robbery and kidnapping, is using a writ of habeas corpus to seek a new trial.
Credit: AP/Las Vegas Review-Journal/Jeff Scheid
Major Tom to ground control: On Sunday astronaut Chris Hadfield recorded the first music video from space, a cover of David Bowie's "Space Oddity."
Credit: AP/NASA/Chris Hadfield
When it rains it pours. President Barack Obama speaks during a news conference Thursday with Turkish Prime Minister Recep Tayyip Erdogan, inexplicably inspiring an #umbrellagate Twitter meme.
Credit: AP/Jacquelyn Martin
A smoke plume rises high above a road block at the intersection of County A and Ross Road east of Solon Springs, Wis., Tuesday. No injuries were reported, but the the wildfire caused evacuations across northwestern Wisconsin.
Credit: AP/The Duluth News-Tribune/Clint Austin
Recent Slide Shows
- 1 of 11