There are no deals set to price in the first week of the new year; however, filing activity will continue from companies targeting 1Q18 IPOs. The IPO market rounded out 2017 at an even 160 IPOs, raising $35.5 billion in total proceeds, nearly double that of 2016. Refer to our 2017 Annual Review for further insights and analysis, along with what we expect to see in 2018.
Quiet Periods
Street research is expected for five companies in the upcoming week: protein detection test company Quanterix (QTRX: +43% from IPO price), California commercial thrift Luther Burbank (LBC: +12%), oral chemotherapy biotech Odonate Therapeutics (ODT: +4%), payday loan provider CURO Group (CURO: +1%) and neurodegenerative disease biotech Denali Therapeutics (DNLI): -13%).
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 37.1% year-to-date, ahead of the S&P 500, which is up 22.4%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snap (SNAP) and Invitation Homes (INVH). The Renaissance International IPO Index is up 36.2% year-to-date, while the ACWX is up 27.8%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Orsted (DONG Energy) and ASR Nederland.
