It could be a record week for the IPO market as one company will raise $3.5 billion in their offering. If successful it would be the largest IPO in almost four years. Last week was a good for the IPO markets, as the offering that everyone was focused on performed quite well. Carbon Black (NASDAQ: CBLK) shot up 26% on its first day, which signals that there's still strong demand for the tech offerings.
First up this week is AXA Equitable (NYSE: EQH). It's the largest offering on the table, and they're seeking a record $3.5 billion. The life insurance and asset management firm will be offering 137 million shares at a range of $24 to $27. Though the company is global, the offering will only be for the U.S.-based operations of the company. If they are successful, it will be the largest deal since Alibaba (NASDAQ: BABA) went public back in 2014.
Though dwarfed by AXA Equitable, there are still four others this week worth noting. Looking to raise $165 million, HUYA (NASDAQ: HUYA) is a Chinese live streaming site primarily focused on gaming and e-sports. They will be offering 15 million shares at a range of $10 to $12.
Next up is Origin Bancorp (NASDAQ: OBNK), a community bank out in Louisiana. The bank, which has seen a steady increase in market share, will be offering 3.6 million shares at a range of $33 to $35 in hopes of securing $124 million from the open market.
The last two names are in biotech. Evelo Biosciences (NASDAQ: EVLO) is company that develops therapies for inflammatory diseases. This is what is referred to as an "early stage" offering, since the company has yet to build the data necessary for Phase 1 trials. They hope to use some of the $85 million to get to Phase 1 trials by next year.
Finally, Abpro (NYSE: ABP), another early stage biotech company with a focus on cancer therapies, will offer 4 million shares at a range of $14 to $16 in hopes of raising $60 million.