Categories Analysis, Markets

IPO update: Companies that went public in November

For value investors, there is nothing like investing in a promising new stock immediately following its IPO. In November, a slew of companies went public, vowing fast growth and high investor returns. This includes three firms from China, one from Taiwan and one from the United Kingdom. Let’s take a quick look at these companies.

CNFinance Holdings Limited (CNF): The Chinese firm, which provides home equity loan services, offered 6 million shares during its IPO on November 7 at an offer price of $7.50. The stock closed its first trading day at $7.60 and is currently trading 8% below its offer price. Like other Chinese peers, the company has received a lukewarm response due to the cold war between Washington and Beijing.

Eton Pharmaceuticals (ETON): Trading of Eton Pharmaceuticals began on November 13, at an IPO price of $6. The company, which develops liquid formulations of various approved drugs, was earlier a unit of Imprimis Pharmaceuticals (IMMY). The company offered 3.6 million shares at the IPO to raise a total of $21.6 million. The stock is currently 9.5% higher at $6.57.

Vapotherm (VAPO): Medical technology company that specializes in the treatment of respiratory disorders, Vapotherm, went public on November 14. The offer price on the stock was $14 and it closed the opening day at $16. So far this year, the stock has jumped nearly 30%.

2018 was the year of healthcare IPOs. Here is why

Weidai Ltd. (WEI): Weidai was the second Chinese financial services firm to get listed in November. The stock started raised $45 million by offering its shares at $10 on November 15. The peer-to-peer lending platform offered $4.5 million shares during the IPO. The stock witnessed a couple of short hikes and is currently trading around its offer price.

Bain Capital Specialty Finance (BCSF): The specialty finance arm of Boston-based asset management giant Bain Capital debuted on the New York Stock Exchange on November 15 by offering 7.5 million shares priced at $20.25. The IPO failed to evoke an enthusiastic response and closed the same day down at $18. The stock is so far down 11%. The company’s investment income has increased 6 times year-over-year for the first half of 2018, according to Reuters.

TuanChe Limited (TC): A leading automotive marketplace in China, TuanChe started trading on Nasdaq on November 20. The initial offer price was $7.80 and the stock closed that day 3 cents higher. Hurt by trade war concerns, TuanChe is currently trading down 8.3%.

Tencent Music might finally launch its IPO on December 12

Tiziana Life Sciences plc (TLSA): The UK-based biotechnology company went public on November 20 at an IPO price of $9.90. The company develops antibodies for the treatment of Crohn’s disease, NASH and cancer. A total of $4.4 million was raised by offering 0.4 million shares of the company. The stock has fallen 9.3% since launch.

Taiwan Liposome Company (TLC): The Taiwan-based specialty pharmaceutical firm offered 3.8 million shares priced $5.80 at its IPO on November 21.  The stock is currently trading at $6.50, up 12%.


Follow our Google News edition to get the latest stock market, earnings, and financial news at your fingertips

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight