The IPO markets will average 2 deals a day this week as Friday is a stock market holiday and the markets will be closed. Now that Dropbox (DBX ) successfully launched in a volatile market it opens the door for others to jump in.
The biggest offering of the week comes from China in the form of an online video streaming platform. iQIYI (IQ ) will be looking for a whopping $2.25 billion by offering 125 million shares at a range of $17 - $19. The company, which is owned by Baidu (BIDU ) could be the largest Chinese IPO since rival Alibaba (BABA ) went public just four years ago.
There are three other Chinese IPO's on the calendar this week though none will likely get the media attention of iQIYI. The other names include Bilibili (BILI ) which is a mobile gaming platform, GreenTree Hospitality (GHG ) which is a hotel operator similar to Motel 6 and La Quinta, and OneSmart Education (ONE ) which is yet another premium, after school education company.
Biotech company, Unum Therapeutics (UNUM ) which is working on a cancer immunotherapy will try and raise $75 million by offering 5.7 million shares at a range of $12 - $14. The company tried to launch earlier this month but postponed. They have since lowered their offering and will try again this week.
Homology Medicines (FIXX ) is another biotech company looking to go public this week with their $100 million dollar deal. The firm is in their pre-clinical stages, developing therapies for rare diseases. They will offer 6.6 million shares at a range of $14 - $16.
Lastly, there is IBEX Holdings (IBEX ) based out of Bermuda. The company is an outsourced offering with customer support and marketing services as their main revenue drivers. They are looking for $60 million to continue to expand on their proprietary software. Look for 4 million shares to be offered at a range of $14 - $16.
