U.S. IPO market hits oversupply problem

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Online trading firm Robinhood Markets’ vaunted IPO fell flat, battery maker Clarios delayed its debut, and fruit purveyor Dole cut its price. Other initial public offerings have done better, but investors can afford to be choosy, richardbeales1 says.

Robinhood Markets’ shares fell 8% to around $35 on their first day of trading on July 29, compared with an initial public offering price of $38 set a day earlier.

Clarios International, a car-battery maker owned by Brookfield Asset Management, on July 29 delayed its initial public offering citing “current market conditions.” Advertising-technology company Teads, owned by French telecom group Altice, also postponed its IPO. Dole on July 28 slashed the indicative price range for its initial public offering. The fruit and vegetable grower said it plans to price its shares between $16 and $17 apiece, compared with the previous range of $20 and $23 per share. It would be valued at $1.7 billion at the top end of the new range.A trader works behind plexiglass on the floor of the New York Stock Exchange in New York City, New York, U.S., July 28, 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 470. in US

United States United States Latest News, United States United States Headlines