There are no IPOs scheduled to price in the week ahead. While nothing is currently on the calendar, expect that to change after Labor Day, when recent filers start launching. With just five IPOs this month (six, including the one SPAC), August 2017 will be the slowest August since 2011.
Quiet Period
The quiet periods for two recent IPOs are set to expire next week. Street research is expected on Monday for ultra-rare bone disease biotech Clementia Pharmaceuticals (CMTA) and pigments manufacturer Venator Materials (VNTR). Clementia popped +9% on the first day before settling at +7%; Venator advanced +3% on its first day, but now sits flat, up +0.4% from its offering price.
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up +24.5% year-to-date, ahead of the S&P 500, which is up +9.1%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Ferrari (RACE) and First Data (FDC). The Renaissance International IPO Index is up +23.3% year-to-date, while the ACWX is up +17.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include ABN AMRO Group and Worldpay. To find out if this is the best ETF for you, visit our IPO Investing page.
