The U.S. initial public offering market is bracing for another busy week, with 14 deals on tap, unless fears of contagion from a possible default by Chinese property giant Evergrande lead issuers to postpone plans.
The market was especially strong last week, when 11 deals came to market and averaged a more than 55% return from the offer price, and none finished below their offer price. Top performers included inflammatory-disease biotech Dice Therapeutics DICE, -4.08%, coffee retailer Dutch Bros Inc. BROS, +18.39% and enterprise software company ForgeRock Inc. FORG, -9.12%.
“This week, 14 IPOs are scheduled to raise $5.5 billion, [and] most are software, payments and healthcare IPOs — these have been strong-returning sectors,” she said. Restaurant payment processor Toast Inc. TOST, is seeking to offer 21.7 million shares priced at $34 to $36 each, and it also increased its price range Monday from a previous $30 to $33. It would raise up to $781 million at the high end of the range at a valuation of up to $18 billion. Goldman Sachs and Morgan Stanley are lead underwriters.
iamkoshiek there's so many IPOS going up on tech start ups... peep this