The IPO markets continue their momentum this week as the build up to the larger, more widely known names continues to drive the media spotlight on the space. Last week's IPO's were mostly successful and showed that investor appetite for new offerings is still quite strong. Good news for the big name offerings headed to the markets.
This week the tech space will once again test investors and their willingness to look past the higher valuations with 3 different offerings in the space. First up, and the largest of the week will be Jumia (JMIA ) which is based out of Berlin but offers an online shopping platform in Africa similar to Amazon. The company, which has Mastercard confirmed as an initial investor in the offering will be looking to raise $196 million by offering 13.5 million shares at a range of $13-$16. The 7 year old company has $147 million in sales over the last year and looks to hit the market with a valuation of $1.15 billion.
Next is a software offering looking for $181 million. PagerDuty (PD ) is an enterprise level software that monitors potential IT issues which has $118 million in sales over the last 12 months. They will offer 9 million shares at a range of $19 - $21 which would give them a valuation of $1.7 billion.
Tufin Software Technologies (TUFN ) is another software name that also focuses on an enterprise offering but with an emphasis on network security. The company has $85 million in sales over the last 12 months and will offer almost 8 million shares at a range of $12 - $14 in hopes of raising $100 million. From a valuation perspective this is the least expensive offering of the week with a potential market cap of $500 million.
There are still many, larger names making their way to the markets which are highly anticipated and more well known. Uber, Slack, Pinterest are just a few but there are rumblings of many, many more.