Steelcase, Inc., the worlds largest manufacturer of office furniture will go public this week. IPO pricing to be in the 23.00 to 26.00 range according to Goldman Sachs (lead underwriter) . According to IPO Researcher this should be one of the hottest IPO's of the year. I understand Steelcase is growing at twice the industry growth rate, is very profitable and has virtually no debt. Also, I hear that this company really does not need the money or need to go public but are doing so because of the 250+ family members who are part owners would like to cash in on their company ownership. Couldn't be a better time to go public. Office furniture industry is very healthy and profits are up for all the major companies. Sorry to post this on the MLHR board but I thought you all would be interested since Steelcase is one of their competitors. Cheers Stkpkr
MLHR has pretty much reached it's post-split-announcement peak. That, combined with the fact that Feb options expire this week, is going to limit where the price goes, and possibly make it drop some this week.
My own humble (and very often wrong) opinion: Look for a substantial drop after the split (from 28-30 down to 23-26), and then a nice but slow rise back up to 40.