Shares of Chinese baked goods producer Chanson International dropped as much as 40% following a $14M IPO on Thursday.
LATEST IPOS AND DIRECT LISTINGS:
Himalaya Shipping (HSHP) opened for trading on March 31 at $6.05. The independent dry bulk carrier company with two dual fueled Newcastlemax vessels in operation and 10 dual fueled Newcastlemax dry bulk vessels under construction at New Times Shipyard in China expected to be delivered between April 2023 and July 2024 priced its initial public offering in the United States of 7.72M of its common shares at a price to the public of $5.80 per common share. Himalaya Shipping will continue to be listed on the Euronext Expand in Norway under the ticker "HSHP."
Shengfeng Development (SFWL) opened for trading on March 31 at $4.10. Shengfeng, a contract logistics company in China providing customers with integrated logistics solution services, priced its initial public offering of 2.4M Class A ordinary shares at a public offering price of $4.00 per Class A ordinary share.
Syla Technologies (SYT) opened for trading on March 31 at $8. Syla, which bills itself as "operator of the largest membership real estate crowd-funding platform in Japan," Rimawari-kun, priced its initial public offering of 1.875M American Depositary Shares, or "ADSs," at a price of $8.00 per ADS.
Hitek Global (HKIT) opened for trading on March 31 at $5 after having priced its 3.2M share IPO at $5.00. Hitek Global is a China-based information technology consulting and solutions service provider.
Chanson International (CHSN) opened for trading on March 30 at $4. The provider of bakery, seasonal, and beverage products through its chain stores in China and the United States had priced its initial public offering of 3.39M Class A ordinary shares at a public offering price of $4.00 per Class A ordinary share.
Hongli Group (HLP) opened for trading on March 29 at $4.40. The company had priced 2.06M shares at $4.00, at the low end of the $4.00-$6.00 range.
Jin Medical (ZJYL) opened for trading on March 28 at $8. The Cayman Islands holding company with Chinese operating entities that manufacture and develop wheelchairs and living aids products had priced its initial public offering of 1M ordinary shares at a public offering price of $8.00 per share.
YanGuFang (YGF) opened for trading on March 28 at $4. The healthy food company primarily engaging in the production, research and development, and sales of oat and grain products had priced its initial public offering of 2M ordinary shares at a public offering price of $4.00 per share.
SPAC IPOS THIS WEEK:
Trailblazer Merger I (TBMC) opened on March 29 at $10.14. TMBC "intends to focus its search for a target business on companies operating in the technology industry," the company said.
TMT Acquisition (TMTC) opened on March 28 at $10.20. The company priced its initial public offering of 6M units at an offering price of $10.00 per unit, with each unit consisting of one ordinary share and one right.
PERFORMANCE:
- Chanson International ended the week at $2.11.
- Hongli Group finished Friday at $3.47.
- Jin Medical ended the week at $7.45.
- YanGuFang finished Friday at $3.88.
- Himalaya Shipping finished its first day of U.S. trading at $5.80.
- Shengfeng Development closed on Friday at $4.02.
- Syla Technologies ended the week at $7.25.
- Hitek Global finished Friday at $5.56.
RECENT IPOS TO WATCH:
Xiao-I (AIXI) and Atlas Energy (AESI) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.
UPCOMING IPOS:
Upcoming IPO and direct listings expected include Cortigent, CCSC Technology (CCTG), Stripe, Harden Technologies (HARD), and Zeekr.
Click here to see upcoming IPO calendar on TipRanks.
Vivani Medical (VANI) announced the filing of a Registration Statement on Form S-1 with the U.S. SEC for the proposed initial public offering of Cortigent. Cortigent, currently a wholly-owned subsidiary of Vivani, was formed for the purpose of advancing the business of Vivani’s neuromodulation division and will continue to be controlled by Vivani following the initial public offering.
CCSC Technology has filed with the SEC for an initial public offering of its ordinary shares. The company said it expects the initial public offering price to be in the range of $4.00 to $6.00 per ordinary share and that it has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol "CCTG." The prospectus filed with the SEC states in part, "We are a holding company incorporated in the Cayman Islands. As a holding company with no material operations of its own, we conduct our operations through our operating subsidiaries established in Hong Kong, mainland China, and the Netherlands, primarily in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses. As of the date of this prospectus, we have a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas… We produce both OEM, or ‘original equipment manufacturer,’ and ODM, or ‘original design manufacture, interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services, or ‘EMS,’ companies, who procure and assemble products on behalf of such manufacturing companies. OEM products refer to products we manufacture based on design and specifications provided by customers, while ODM products refer to those products that we design, develop and manufacture based on the specifications provided by customers."
Stripe told employees that it has hired Goldman Sachs and JPMorgan to take it public or allow employees to sell stock within the next year, The Information’s Cory Weinberg and Becky Peterson have reported. The company is considering both a direct listing and a private-market transaction that would give employees liquidity in the next 12 months, according to an email viewed by The Information.
Stripe, trying to raise a huge sum of money from investors, has tried to craft "a compelling pitch" that it is growing faster this year than some of the biggest names in tech, has many more potential lines of revenue than just its core payments business and that it is grabbing loads of customers focused on artificial intelligence, The Information’s Kate Clark and Cory Weinberg reported this week. Stripe’s confidential pitch deck to investors, viewed by The Information, "shows how the company is trying to convince them to overlook a sharp slowdown in revenue last year," the latest report added.
Harden Technologies has filed with the SEC for initial public offering of 2.5M ordinary shares and said it expects the initial public offering price will be between $5.00 to $7.00 per ordinary share. The company has applied for approval of the listing of its ordinary shares on the Nasdaq Capital Market and has reserved the symbol "HARD" for such listing for the ordinary shares. The prospectus states, "Harden is a waste management and recycling equipment manufacturer in China, specializing in the manufacture of customized industrial shredders and material sorting machines and production lines."
Zeekr, the upscale unit of Chinese EV maker Geely Automobile (GELYF), has confidentially filed for a U.S. initial public offering that values the company at more than $10B, reports Julie Zhu and Scott Murdoch for Reuters, citing people familiar with the matter. "The plans come as the brand, which competes with Tesla (TSLA) and Chinese peer Nio (NIO), sets its sights on marketing its 001 crossover" in Europe for 2023, added the Reuters story.
Opening Day" is The Fly’s recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on HKIT:
