Following an active week in the IPO market, just 1 IPO is scheduled to price in the shortened week ahead.
While the calendar is quiet, several companies are primed to launch following Memorial Day, including payments platform Marqeta (MQ), Israeli workflow management platform monday.com (MNDY), and Chinese social networking platform Soulgate (SSR).
Cross-border payment processor dLocal (DLO) plans to raise $500 million at a $5.0 billion market cap. dLocal enables global merchants to make and receive both cross-border and local-to-local payments in 29 countries. The company has over 330 merchant partners, including Amazon, Didi, Microsoft, and Spotify. dLocal is profitable, but while revenue has grown rapidly, it is concentrated to its top 10 customers.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business |
Deal Size Market Cap |
Price Range Shares Filed |
Top Bookrunners |
| dLocal (DLO) Montevideo, Uruguay |
$500M $4,980M |
$16 - $18 29,411,765 |
JP Morgan Goldman |
| Provides a cross-border payment processing platform for e-commerce. | |||
Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.
In the week ahead, Street research is expected for eight companies and lock-up periods will be expiring for up to six companies. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 5/27/21, the Renaissance IPO Index was down 4.3% year-to-date, while the S&P 500 was up 11.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.0% year-to-date, while the ACWX was up 9.6%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.
