Well its been a few weeks since the IPO markets have seen any excitement but all that is about to change. As is typical for the "pre-labor day" stretch, IPO's tend to dry up. Now that the holiday is beyond us we can expect to see the backlog of filings make their way to the open market.
This week we have two names that will be looking for a total of $590 million. There is a small real estate investment trust looking for $90 million, and then a blank check company that will soak up the other $500 million. Analysts note that in both cases there is not much information and investors will be trusting the experience of the management team.
Social Capital Hedosophia Holdings (NYSE: IPOA) is a blank check company that hopes to acquire a large, private technology company. To do this they will be looking for $500 million by offering 50 million shares to the public at $10. After the weak IPO from Snap, Inc. (NASDAQ: SNAP), this will be the first opportunity for analysts to see how wet the appetite is for IPO investors to jump back into the tech space.
Tremont Mortgage Trust (NASDAQ: TRMT) is a young, commercial mortgage real estate investment trust that is controlled by RMR Group out of Newton, MA. They will be looking for $90 million by offering 4.5 million shares at $20. Looking at the performance of the other 4 REITs to go public this year you can seen that all of them are currently trading within 3% of their IPO prices.
Looking forward there are 6 IPO's already for the week of September 18th, and with the backlog of filings, October is also looking positive as well..