6 companies eyeing IPOs next week

Outback Steakhouse owner, soccer club among firms expected to launch IPOs next week

Associated Press

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.

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