IPOs Aren’t Just For Safe Sectors Anymore
Date: November 27, 2009
The companies that first braved the 2008-vintage IPO freeze tended to be in safe sectors like education, but the markets have opened up somewhat, and one new filer is not in a defensive category, and isn’t profitable, but is seeing signs of improvement.
Sensata Technologies BV filed for an initial public offering of up to $500 million. Bain Capital LLC formed the company with Texas Instruments Inc.’s sensors and controls business in 2006, buying the operations in a $3 billion deal that included about $1 billion of equity. Sensata has a heavy presence in the automotive market, which explains its unprofitable year so far.
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Source: Wall Street Journal
