Its yet another week where we see plenty of offerings coming to the markets. All said there are 11 IPO's on the calendar, but the most exciting part is the diversity of the deals.
The largest offering of the week comes out of China. Pinduoduo (PDD ) is a "group buying " app that is looking for $1.5 billion. With 85 million shares at a range of $16 - $19 this gives them a valuation of almost $22 billion. The company has $3.1 billion in sales in just the last 12 months.
There are 5 other tech names up for grabs this week, only one of which is US based. There is Aurora Mobile (JG ) which will be offering 12 million shares at a range of $8.50 - $10.50 in hopes of raising $114 million. Cango (CANG ) which is an online website for businesses in China will be offering 12.5 million shares at a range of $10 -$12. Endava (DAVA ) which is an IT outsourcing solutions company. Opera Limited (OPRA ) based out of Norway which is a web browser platform. The only US based company in the tech offerings this week is Tenable Holdings (TENB ) which is an enterprise software company focused on analytics. They will offer 9.2 million shares at a range of $17 - $19.
In the drug space we have Aquestive Therapeutics (AQST ) which is working on oral medications. They will offer 4 million shares at a range of $14 - $16 in hopes of raising $60 million. The other name in the group is Liquidia Technologies (LQDA ) which is engineering formulas for PAH and other pains. They will offer 4.5 million shares at a range of $10 - $12 in hopes of raising $50 million.
The other names up for grabs this week are Bloom Energy (BE ) which sells generators with a clean component. They will offer 18 million shares at a range of $13 - $15 in hopes of raising $252 million.
Berry Petroleum (BRY ) is a California based company which focuses in onshore drilling and production. They will offer 18.75 million shares at a range of $15 - $17 in hopes of raising $300 million.
Finally we have Focus Financial Partners (FOCS ) which is a US network of financial planners and wealth managers. The company is looking to expand and will offer 16.2 million shares at a range of $35 - $39 in hopes of raising $600 million.