While February is typically known to be a slower month for IPOs, the same cannot be said for March. In addition to the typical upswing in activity, there are also big name IPOs making their way to offerings, which may spur even more action going forward.
While the media attention continues to stir around Lyft and the latest reports out of that company, which is currently prepping for an IPO later this year, this week we will have two names that actually launch.
First up we have Futu Holdings (FHL ), which is a rapidly growing investing platform over in Hong Kong. Similar to the low cost fin-tech platforms here in the states, Futu is technology-focused and making ultrafast strides in user experience, which has attracted a rapidly growing user base. They will be the largest offering of the week, looking to raise $120 million by offering up 10 million shares at a range of $10 - $12. This would give the company a valuation of just over $1.3 billion.
The other offering of the week comes to us out of California and is in the biotech space. ShockWave Medical (SWAV ) will be looking for $75 million this week to continue development of its sonic wave device, which they hope they can expand on to treat cardiovascular disease. Currently the company operates at a heavy loss. They will offer up 5 million shares at a range of $14 - $16, which would give them a valuation of nearly a half of a billion dollars with only $12 million in sales last year.