While no companies are scheduled to go public in the week ahead, the IPO pipeline is teeming with potential launches.
One deal has already joined the US calendar: large Chinese biotech I-Mab Biopharma (IMAB) plans to raise $100 million at an $876 million market cap in the following week.
There are currently 37 companies in the IPO pipeline that have filed updates in the last 90 days, including Chinese co-working provider UCommune (UK), Chinese cancer diagnostics provider Genetron Holdings (GTH), and consumer products maker Reynolds Consumer (REYN).
Street research is expected for five companies. On Monday, January 6: XP (XP), Bill.com (BILL), and EHang (EH). On Tuesday, January 7: OneConnect Financial Technologies (OCFT) and Sprout Social (SPT).
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 1/2/20, the Renaissance IPO Index was up 1.8% year-to-date, while the S&P 500 had a gain of 0.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber (UBER) and Spotify (SPOT). The Renaissance International IPO Index was up 1.0% year-to-date, while the ACWX was up 1.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Adyen and Meituan-Dianping.
