There are a total of six IPO 's on the books for this week. They are looking to raise a combined $2.2 billion in their respective offerings. If they are successful this would put October on pace to beat September as the most active month for IPO's. From this point on though you will hear us, and the media speak about a slowdown in the IPO markets. This is very normal for this time of year as we head into the U.S. holidays in November and December.
The largest offering of the week will be a Chinese company called ZTO Express (NYSE: ZTO). The company, based out of Shanghai will be looking to raise $1.2 billion this week. If successful this will be the larges Chinese IPO since Alibaba (NASDAQ: BABA) almost exactly two years ago. Offering 72 million shares the company will come to market in the $16.50 - 18.50 range.
If you have ever played golf then you will know the next company. Acushnet Holdings (NYSE: GOLF), is the company with the number 1 golf ball in the world (Titleist), along with the number on golf shoe and gloves, FootJoy. The company will be looking to raise $435 million by offering 19 million shares at a range of $21-24.
BlackLine (NASDAQ: BL) is looking to raise $120 million by offering 8.6 million shares at a range of $13-15. The company says they will use the money to pay down debt and fund its rapid expansion. BlackLine offers automated financial reporting software which is used by over 150,000 people worldwide. According to their filings, the company grew about 50% in the most recent quarter.
Quantenna Communications (NASDAQ: QTNA) hopes to raise $101 million this week by offering 6.7 million shares at a range of $14-16. According to their website, the company makes chip sets that help power Wi-Fi networks, and are considered some of the most advanced on the market, helping to drive 56% growth in the most recent quarter.
In the biotech space, Myovant Sciences (NYSE: MYOV) is on the books to raise $176 million by offering 13 million shares at a range of $12-15. The company says that they are looking to "take an acquired therapy to the finish line." If they are successful, this will be be the year's largest IPO from a biotech, and it is also the youngest, at only eight months old.
Lastly, Ra Pharmaceuticals (NASDAQ: RARX) hopes to raise $75 million by offering 5.8 million shares at a range of $12-14. According to their filings the company is looking to take its lead candidate into Phase 2 trials. The biotech is initially targeting a rare but, life threatening blood disorder, and believes its drug platform represents a multi-billion market.