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What is happening in the IPO market?

By Staff Correspondent |

The IPO market is abuzz as usual, with many companies inching closer to public listing, while a few have backtracked from their plans. Let’s take a quick look at what you can expect in the coming days.

Medical device firm Ra Medical Systems intends to offer 3.3 million shares under its planned IPO at a price range of $14 to $16 a share. The shares will be listed on the NYSE under “RMED” ticker. The company is developing a type of ultra-violet laser-based platform called DABRA to treat vascular and dermatological diseases.

Chinese internet start-up Meituan Dianping has raised about $4.2 billion after pricing its shares at the top of its target range, according to CNN. This could value the company at close to $55 billion. The company intends to use the cash to upgrade its technology, develop new products and services, and make acquisitions and investments. Meituan services include online food delivery, bookings, ride-hailing, and ticketing services.

Cloud-based financial planning company Anaplan Inc. intends to raise up to $100 million through an IPO to meet the working capital and fund operations. The company has roped in former Tesla (TSLA) CAO David Morton as its CFO. It is currently working with an exchange to list the shares under the “PLAN” ticker. It was founded in 2006 as a cloud-based business planning and performance management platform based on a single hub.

Auto giant Volvo has postponed its plan for public listing due to global trade tensions as reports confirmed that President Donald Trump’s trade war could hurt its valuation. Volvo is also witnessing an interruption to its business due to the resumption of the global trade war between the US and China.

Industrial steel pipe and tube products maker Zekelman Industries plans for an IPO of 41.75 million shares at $17 to $19 per share to raise about $752 million. The shares will be listed on both the NYSE and Toronto Stock Exchange under ‘ZEK’ ticker. The company has an annual production of about 2.1 million tons, backed by the 13 pipe and tube production facilities in seven US states and one Canadian province.

Aston Martin intends to get listed on the London Stock Exchange (LSE) later this year. This could value the company at around $6 billion. The carmaker, made famous by James Bond franchise, plans to float about 25% of the company. The offering would consist of about $1.29 billion or more of shares.

SurveyMonkey inched closer to a public listing as the survey software provider filed to raise $100 million in a stock sale. SurveyMonkey plans to use the proceeds to lower the tax obligations from a restricted stock unit settlement, as well as for working capital and general purposes. The company intends to list its common shares under the ticker “SVMK”.

Chinese carmaker Nio Inc. (NIO) had its IPO on September 12, becoming the first Chinese electric vehicle manufacturer to go public in the US. Nio priced its initial public offering at $6.25 to raise about $1 billion. Dubbed ‘Chinese Tesla’, Nio is expected to give a stiff competition EV sector.

Funding Circle Holdings is inching closer to a public listing as the company plans to raise gross proceeds of about 300 million pounds. Shares will be listed on the London Stock Exchange. Funding Circle is a small and medium enterprise loans platform with operations in the UK, US, Germany, and the Netherlands.

Chinese mobile content aggregator Qutoutiao Inc. (QTT) priced its initial public offering of 12 million shares at $7 per American Depository Share to raise about $84 million. The company’s shares started trading on Nasdaq under the ticker “QTT” on Friday. Qutoutiao, which serves clients in China, offers a platform that provides entertainment content.

Biopharmaceutical company Biotech Arvinas Inc. intends to offer 6.7 million shares at a price range of $14 to $16 a share. The company plans to list its shares on Nasdaq as “ARVN”. The company is developing a technology platform to engineer proteolysis targeting chimeras, or PROTACs, that are designed to harness the body’s own natural protein disposal system to remove disease-causing proteins.

Navios Maritime Containers Inc., which provides container services to the maritime industry, ceased its plan for an IPO on the Nasdaq. The company will request its stock to resume trading on the N-OTC or Norwegian Over the Counter Market exchange on September 17.

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