Categories Analysis, Markets

IPO update: Companies that went public in November

For value investors, there is nothing like investing in a promising new stock immediately following its IPO. In November, a slew of companies went public, vowing fast growth and high investor returns. This includes three firms from China, one from Taiwan and one from the United Kingdom. Let’s take a quick look at these companies.

CNFinance Holdings Limited (CNF): The Chinese firm, which provides home equity loan services, offered 6 million shares during its IPO on November 7 at an offer price of $7.50. The stock closed its first trading day at $7.60 and is currently trading 8% below its offer price. Like other Chinese peers, the company has received a lukewarm response due to the cold war between Washington and Beijing.

Eton Pharmaceuticals (ETON): Trading of Eton Pharmaceuticals began on November 13, at an IPO price of $6. The company, which develops liquid formulations of various approved drugs, was earlier a unit of Imprimis Pharmaceuticals (IMMY). The company offered 3.6 million shares at the IPO to raise a total of $21.6 million. The stock is currently 9.5% higher at $6.57.

Vapotherm (VAPO): Medical technology company that specializes in the treatment of respiratory disorders, Vapotherm, went public on November 14. The offer price on the stock was $14 and it closed the opening day at $16. So far this year, the stock has jumped nearly 30%.

2018 was the year of healthcare IPOs. Here is why

Weidai Ltd. (WEI): Weidai was the second Chinese financial services firm to get listed in November. The stock started raised $45 million by offering its shares at $10 on November 15. The peer-to-peer lending platform offered $4.5 million shares during the IPO. The stock witnessed a couple of short hikes and is currently trading around its offer price.

Bain Capital Specialty Finance (BCSF): The specialty finance arm of Boston-based asset management giant Bain Capital debuted on the New York Stock Exchange on November 15 by offering 7.5 million shares priced at $20.25. The IPO failed to evoke an enthusiastic response and closed the same day down at $18. The stock is so far down 11%. The company’s investment income has increased 6 times year-over-year for the first half of 2018, according to Reuters.

TuanChe Limited (TC): A leading automotive marketplace in China, TuanChe started trading on Nasdaq on November 20. The initial offer price was $7.80 and the stock closed that day 3 cents higher. Hurt by trade war concerns, TuanChe is currently trading down 8.3%.

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Tiziana Life Sciences plc (TLSA): The UK-based biotechnology company went public on November 20 at an IPO price of $9.90. The company develops antibodies for the treatment of Crohn’s disease, NASH and cancer. A total of $4.4 million was raised by offering 0.4 million shares of the company. The stock has fallen 9.3% since launch.

Taiwan Liposome Company (TLC): The Taiwan-based specialty pharmaceutical firm offered 3.8 million shares priced $5.80 at its IPO on November 21.  The stock is currently trading at $6.50, up 12%.

 

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