ADT Corp Highlights Quiet Week of Initial Public Offerings

Last week was a quiet week for IPOs. Security company ADT Corp. highlighted the week with a $1.7 billion offering. Speculation continues among other tech-based companies such as SurveyMonkey and Spotify.

• US security company ADT Corp, (NYSE: ADT) which is owned by Apollo Global Management, said its IPO priced below the expected range. At $14 per share – below the target range of $17 to $19 per share – the maximum ADT could raise in its IPO is $1.69 billion.
• Nine Energy Service (NYSE: NINE) raised $161 million by offering seven million shares at $23 per share. The company, which provides well completion and production services, priced at the high end of its range of $20 to $23 per share.
  
• SurveyMonkey is reportedly eyeing an IPO in 2018. The cloud questionnaire and survey company was valued at $2 billion after its last $250 million funding round in 2014, according to Pitchbook, and its 2016 revenues were $200 million.