Sign up Australia
Proactive Investors - Run By Investors For Investors

IPO Roundup: It’s a big week for tech IPOs, raising up to a combined US$2.5bn

Chinese shopping app Pinduoduo may be the largest IPO of the week, raising up to US$1.5bn
Shopping app
The app has nearly 350 million users, making it second only to Alibaba in customers


Bloom Energy Corp (NYSE:BE) is one of the first companies going public this week. The Silicon Valley start-up makes solid oxide fuel cells for servers that convert natural gas into low-emission electricity. The clean-energy company claims that each server can provide enough power for 160 US homes. The California-based company will issue 18 million shares priced between US$13 and US$15, raising as much as US$270mln.

Aquestive Therapeutics Inc (NASDAQ:AQST) will also be pricing shares this week. The pharmaceutical company develops treatments for central nervous system disorders. The New Jersey-based company will issue 4 million shares priced between US$14 and US$16. The offering could raise as much as US$64mln.


Focus Financial Partners Inc (NASDAQ:FOCS) will price its shares Thursday. The wealth management company operates a network of RIAs, or registered independent advisors. The New York-based company advises customers on money matters for a fee. The advisory service will price more than 16 million shares priced between US$35 and US$39, raising as much as US$632.4mln.

Cango Inc (NYSE:CANG) is the second company pricing shares on the New York Stock Exchange this week. The company develops software for car dealerships to buy and sell vehicles. The service also connects financial institutions with buyers looking to finance their purchase. The Shanghai-based company will issue 12.5 million shares priced between US$10 and US$12, raising as much as US$150mln.

READ: IPO Roundup: Canadian cannabis company Tilray’s IPO could raise more than US$140mln

Aurora Mobile Ltd (NASDAQ:JG) is another China-based company listing on a US exchange this week. The analytics platform, also known as Jiguang, collects data that provides information to mobile app developers. The company has access to real-time device-level mobile behavioral data, using AI and machine learning. The company will issue 12 million shares priced between US$8.50 and US$10.50, raising as much as US$126mln.

Berry Petroleum Corp (NASDAQ:BRY) also makes its public debut this week. The oil and gas exploration and production company will issue 12.2 million shares, priced between US$15 and US$17. The offer could raise more than US$207mln. A portion of the money raised will be used to purchase more than 4 million shares of its common stock owned by funds affiliated with Benefit Street Partners and Oaktree Capital Management.

READ: Nasdaq is king of the tech IPO with 151 new listings in the first half of 2018

Pinduoduo Inc (NASDAQ:PDD) has hit some rough waters ahead of its IPO. The Chinese shopping app is facing a trademark infringement lawsuit from Daddy’s Choice, a diaper maker accusing the e-commerce platform of knowingly selling knockoffs of the brand, as per a New York Times report. Nearly 350 million customers used the app in the past year, making it second only to Alibaba Group Holding Limited (NYSE:BABA) in customers. The company will issue 85.6 million shares priced between US$16 and US$19, raising as much as US$1.6bn.

Liquidia Technologies Inc (NASDAQ:LQDA) joins the long list of companies going public this week. The late-stage clinical biopharma develops human therapeutics using its proprietary PRINT technology to create an inhalable version of a drug. Its lead candidate LIQ861 is a dry powder designed to treat pulmonary arterial hypertension. The North Carolina-based biopharma will issue more than 4.5 million shares priced between US$10 and US$12, raising as much as US$54.5mln.

Tenable Holdings Inc (NASDAQ:TENB) is another software company pricing shares this week. The tech company provides cybersecurity tools, including network monitoring services, to around 24,000 organizations. More than half of its customer base consists of Fortune 500 companies. The Maryland-based company will issue 9.2 million shares priced between US$17 and US$19, raising as much as US$174.8mln.


Opera Ltd (NASDAQ:OPRA) will price its shares at the end of the week. The Norwegian company created a browser for desktop and mobile devices. There are currently 182 million monthly active mobile users and 57.4 million monthly active desktop users. The company will issue 9.6 million shares priced between US$10 and US$12, raising as much as US$115.2mln.

Endava Ltd (NYSE:DAVA) is the last on the IPO list and one of many tech companies pricing shares this week. The company provides IT services, including application development and cloud services. The London-based company will issue 5.6 million shares priced between US$17 and US$19. The offering could raise as much as US$106.4mln.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full BE profile View Profile

Bloom Energy Corporation Timeline

Related Articles

Wall Street
October 03 2018
Acquisitions and partnerships are a key part of building the platform

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use