The U.S. initial-public-offerings market is gearing up for a busy fall, with at least six companies launching roadshows on Tuesday as traders returned to their desks following the Labor Day holiday weekend.
“The pipeline contains an especially strong backlog of tech unicorns, consumer brands, and biotechs,” said Smith. The deal is expected to price at between $18 and $20 a share. The stock is expected to list on the Nasdaq under the ticker symbol “TWKS.” Goldman Sachs and JPMorgan are the lead underwriters. The company recorded net income of $79.3 million on revenue of $803.4 million in 2020, after income of $28.4 million on revenue of $772.2 million in 2019.
The company had net income of 3.8 million Swiss francs in the six months through June 30, after a loss of 33.1 million francs in the year-earlier period, according to its IPO documents. Sales came to 315.5 million francs, up from 170.9 million.Also from Switzerland, sports betting site Sportrader Group AG SRAD, plans to offer 19 million shares priced at $25 to $28 each, or a valuation of up to $31 billion. The company has applied to list on Nasdaq under the ticker “SRAD.
Proceeds are to be used to purchase additional Class A shares — the company is planning to have four classes of stock with differing voting rights. The company had a net loss of $13.6 million, or 32 cents a share, in the first six months of the year, narrower than the loss of $16.5 million, or 38 cents a share, posted in the year-earlier period. Revenue fell to $227.9 million from $327.4 million.
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