Initial public offerings this week are headlined by StoneCo (STNE) a Brazil-based payment processor that looks to raise $1.05 billion, and Yeti Holdings (YETI), a maker of premium coolers.
Other IPOs this week include two biotech companies: Gamida Cell (GMDA) and Alzheon (ALZH).
Brazil-based StoneCo would be the fourth tech IPO this year to raise proceeds above $1 billion. That’s the highest level since 2004, which had five, according to Ipreo.
StoneCo is a cloud-based online payment processor. It trades Friday on the Nasdaq under the ticker STNE. It will offer 47.7 million shares at a price range of 21 to 23.
For the six-month period ended June 30, StoneCo reported revenue of $165 million and net income of $22.7 million. Competitors include PagSeguro Digital (PAGS), which raised $2.3 billion with an IPO that priced shares at 21.50. Shares now trade near 31.50.
More IPOs This Week
Among other IPOs this week, Yeti Holdings looks to raise $400 million by offering 20 million shares at a price range of 19 to 21. For the six months ended June 30, Yeti reported revenue of $341.5 million, up 34% from the year-ago period, and net income of $15.5 million.
The company makes outdoor lifestyle products such as ice chests, vacuum-insulated drinkware made of stainless steel, soft coolers, and related accessories.
It will list on the New York Stock Exchange under the symbol YETI. The lead underwriters are BofA Merrill Lynch and Morgan Stanley.
The conditions for both StoneCo and Yeti look good, according to research and advisory firm IPOboutique.com. Suggesting strong interest for shares from institutional investors, underwriters say Yeti is “multiple times oversubscribed.”
Conditions for StoneCo look even better. Tracking for a “very strong debut,” StoneCo is “many multiple times oversubscribed,” IPOboutique said.
On the biotech IPO front, Gamida Cell looks to raise $50 million, offering 3.6 million shares at a price range of 13 to 15.
Gamida Cell is developing treatments for cancer and hematologic diseases.
It’s listing on the Nasdaq under the ticker GMDA. The lead underwriters are BMO Capital Markets and RBC Capital Markets.
Alzheon plans to raise $35 million, offering 2.5 million shares at a price range of 13 to 15. It trades on the Nasdaq Wednesday under the ticker ALZH.
YOU MIGHT ALSO LIKE:
SolarWinds IPO Prices Low; Other Initial Public Offerings Also Sputter
View more information: https://www.investors.com/news/technology/ipos-this-week-stoneco-yeti/