There are four deals on the calendar for the week ahead.
Chinese international school operator Bright Scholar Education is leading the week with a $135 million offering. Three biotechs are also expected to price deals, raising a total of $177 million.
| IPO Calendar | |||||
| U.S. Calendar | |||||
| Issuer Business |
Symbol Exchange |
Deal Size($m) Market Cap($m) |
Price Range Shares Filed |
Pricing Date |
Bookrunners |
| Bright Scholar Education China |
BEDU NYSE |
$135 $1,035 |
$8.00 - 10.00 15,000,000 |
Wk of 5/12 |
Morgan Stanley, Deutsche Bank |
| Largest operator of international and bilingual schools in China. | |||||
| G1 Therapeutics Research Triangle Park, NC |
GTHX Nasdaq |
$100 $479 |
$15.00 - 17.00 6,250,000 |
Wk of 5/12 |
J.P. Morgan, Cowen & Company |
| Clinical-stage biotech developing novel therapeutics for cancer. | |||||
| argenx Netherlands |
ARGX Nasdaq |
$65 $454 |
$18.18 - 18.18 3,600,000 |
Wk of 5/12 |
Cowen & Company, Piper Jaffray |
| Developing antibody therapies for rare autoimmune diseases and cancer. | |||||
| Accelerated Pharma Westport, CT |
ACCP Nasdaq |
$12 $57 |
$4.00 - 6.00 2,400,000 |
Wk of 5/12 |
Rodman & Renshaw, Joseph Gunnar |
| Developing a chemotherapy optimized by genomic screening. | |||||
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Chinese schools
Bright Scholar Education Holdings (BEDU), which operates international and bilingual K-12 schools in China, is seeking $135 million at a $1.0 billion market value. Bright Scholar grew 40% in 2016 through pricing increases and increased enrollment, though margins slipped. The company’s schools are all located in the communities of its real estate developer parent Country Garden (2007 HK). While conflicts of interest with Country Garden will likely turn off some investors, the strong performance of its Chinese schooling peers should attract others.
Three biotechs
G1 Therapeutics (GTHX) is looking to raise $100 million at a $479 million market value as it develops CDK4/6 inhibitors. This biotech’s lead product candidate is in Phase 2 trials for the treatment of lung cancer in combination with chemo, improving response rates and minimizing the side effects. G1 has notable backers including Hatteras, MedImmune and RA Capital.
argenx (ARGX) is seeking $65 million at a market cap of $454 million. The company’s lead product candidate is an antibody for the treatment of rare autoimmune diseases that is currently in Phase 2 trials. The company has a proprietary platform for developing candidates based on the llama immune system and has secured licensing agreements with AbbVie and others worth over $625 million in milestone payments.
Accelerated Pharma (ACCP), which is developing an optimized chemotherapy, is looking to raise $12 million at a market cap of $57 million. Since December 2016, the company has lowered its range twice and added warrants.
Potential upcoming launches
Gunshot sensor provider Shotspotter (SSTI), iStar REIT Saftey, Income and Growth (SFTY), lipid disorder biotech Akcea Therapeutics (AKCA) and opioid biotech Avenue Therapeutics (ATXI) are able to launch their deals in the week ahead.
IPO Market Snapshot
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