Shares of Japanese e-commerce company Linkage Global dipped below their $4 IPO price on Tuesday as they made their Nasdaq debut.
LATEST IPOS AND DIRECT LISTINGS:
Linkage Global (LGCB) opens on December 19 at $3.98. The company had priced 1.5M shares at $4.00, at the low end of a $4.00-$6.00 range. Linkage is a cross-border e-commerce integrated service company headquartered in Japan.
Inno Holdings (INHD) opened on December 14 at $10.50. The building-technology company says its mission is “to transform the construction industry with our proprietary cold-formed steel-framing technology and other building innovations.” The offering consists of 2.5M shares of common stock priced at a public offering price of $4 per share, for total gross proceeds of $10M.
RECENT SPAC IPOS:
- Bayview Acquisition (BAYA) opened on December 15 at $10.06. The blanck check company intends to “focus our search on businesses in Asia.”
PERFORMANCE:
- Linkage Global finished the week at $2.04.
- Inno Holdings ended Friday at $1.49.
RECENT IPOS TO WATCH: Garden Stage Limited (GSIW) and Fenbo Holdings (FEBO) 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 Lendbuzz, Astiva Health, General Atlantic, Golden Goose, Going International (GIT), Rubrik and New Era.
Click here to see upcoming IPO calendar on TipRanks.
Lendbuzz, a U.S. financial technology startup that uses artificial intelligence to offer auto loans to people who lack credit history, has hired investment banks for an initial public offering that could value it at more than $2B, Reuters’ Echo Wang reports, citing two people familiar with the matter. Lendbuzz’s IPO preparations come as investor confidence in the consumer finance sector has picked up, with shares of financial technology companies such as Upstart (UPST) and Affirm (AFRM) rallying in the last two months, the publication notes. Lendbuzz has hired Goldman Sachs (GS), JPMorgan Chase (JPM), RBC Capital Markets (RY) and Mizuho Financial Group (MFG) as lead underwriters for its planned offering, the sources said.
Astiva Health, a Medicare Advantage prescription drug plan provider, has started the process of registering its common shares on the Nasdaq Global Select, according to a SEC filing. Astiva Health is targeting a Q1 debut. Spartan Capital has been engaged as the underwriter.
General Atlantic, the investment firm whose bets have included Facebook (META) and Airbnb (ABNB), has confidentially filed for an initial public offering, Bloomberg’s Dinesh Nair, Ryan Gould, Gillian Tan, and Swetha Gopinath report, citing people familiar with the matter. The firm is considering listing as soon as next year depending on market conditions, according to the people.
Luxury fashion group Golden Goose plans is looking to raise about $1.1B from an initial public offering in Milan, Reuters’ Pablo Mayo Cerqueiro and Elisa Anzolin report, citing three people familiar with the matter. The company’s majority owner, buyout group Permira, has enlisted seven banks to underwrite what is set to be one of Europe’s biggest IPOs next year, the sources said. Reuters this month reported that Permira had appointed Bank of America (BAC), JPMorgan (JPM), Mediobanca (MDIBY) and UBS (UBS) as global coordinators for the IPO.
Going International Holding Company Limited has filed with the SEC for an initial public offering. The prospectus states that, “Investors in our ordinary shares are not purchasing equity securities of our subsidiaries that have substantive business operations in China but instead are purchasing equity securities of a Cayman Islands holding company. Going International Holding Company Limited is a holding company with no material operations of its own. We conduct our operations primarily through our subsidiaries in China… We specialize in offering high-performance back-testing solutions to the financial community, particularly those engaged in quantitative trading strategies development and related services. Our back-testing services include cloud-based SaaS solutions, as well as customized back-testing system development. Additionally, we cater to the needs of small and medium-sized enterprises by offering enterprise management SaaS solutions.”
Rubrik, a cloud and data security startup backed by Microsoft (MSFT), is on track for an initial public offering in 2023 and its investor roadshow could begin as soon as next month, Bloomberg’s Amy Or and Katie Roof report, citing people familiar with the matter. The IPO could bring in $500M-$700M, the authors say, noting that the timing and amount to be raised is still subject to change.
New Era Cap, a supplier of major U.S. sports league headware, has kicked off preparations for an initial public offering in New York that could value it at $4B to $5B, Reuters says, citing people familiar with the matter. New Era, which makes caps affiliated with the NFL, MLB and NBA, has invited investment banks and law firms to pitch this month for roles in its stock market debut, the sources said.
Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
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