With the market closed for deals in January and February partly due to the government shutdown, there have been just 26 IPOs in the year to date to raise $6.6 billion, according to Kathleen Smith, Principal at Renaissance Capital, a provider of institutional research and IPO exchange-traded funds.“We’re still below last year but that should change once we get the Uber deal in May,” said Smith.
However, Forte argued that the midpoint of the company’s expected price range “already reflects our favorable view of Pinterest including its growth prospects.”Zoom Video Communications Inc. ZM, +0.00% a videoconferencing company, is expected to be the second-biggest deal of the week. Zoom is offering 20.9 million shares priced at $28 to $32 each and will trade on Nasdaq under the ticker symbol “ZM.
Tilray Inc. TLRY, -6.94% which already trades on Nasdaq, is allowed because it operates in Canada, which has fully legalized cannabis for adult recreational use. Two other cannabis-related companies, Innovative Industrial Properties Inc. IIPR, -1.59% a marijuana real-estate investment trust, and Turning Point Brands Inc. TPB, +1.19% which owns the Zig-Zag rolling papers brand and vaporizer products, trade on the New York Stock Exchange.
Rounding out the list are Palomar Holdings Inc. PLMR, +0.00% a specialty insurer, that is offering 5.6 million shares priced at $15 to $17 each. Palomar will trade on Nasdaq under the ticker symbol “PLMR.”
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