Indonesian Energy Corp (INDO) – This IPO owns 8 wells in Indonesia and is an oil and gas company. They are profitable and growing and not shackled with debt. But my praise for this IPO stops there. This is a very small deal ($15M) brought by an underwriter (Aegis) who has not had a good track record or late. The energy sector has been hurting of late and energy sector IPOs have not done much better. Additionally, there has been little aftermarket interest in foreign IPOs that have come to the market of late. That said I don’t expect much from this. It’s offering 1.5 Million shares between $9-$11. This is a wait and see for me.
Monopar Therapeutics (MNPR) – This IPO deal has limped across the finish line, twice reducing their offering until we have what comes to market today. They focus on the production of cancer drugs. They have no sales or growth to speak of. Though not highly in debt, this IPO seems like a lifeline for them. They are being brought to market by Jones Trading which has brought an IPO to market in over a year. This should tell you something. Offering 1.1 Million shares between $8-$10 a share, this IPO is a no go for me.
