The initial public offering (IPO) market stayed active last week, with three traditional IPOs and one direct listing entering public trading, raising more than $2 billion. The week ahead also plans to maintain that momentum, with another set of three traditional IPOs and one direct listing set to debut.
In the largest deal of the week, Oatly Group AB (NASDAQ: OTLY) priced its shares at the high end of its range to raise more than $1.4 billion. The Swedish oat milk brand is a leader across major markets, with the company producing a variety of dairy-free alternatives. The stock ended the week up 32%.
In the week's best performance, Jiuzi Holdings, Inc. (NASDAQ: JZXN) finished the week up 68% after pricing shares at its midpoint to raise $26 million. The Chinese electric vehicle retailer has 31 franchises and one company-owned location in China.
Here's the rest of the week's debuts in order of offering amount:
Procore Technologies, Inc. (NYSE: PCOR) priced its shares above its range to raise more than $634 million. The construction management software provider finished the week up 32%.
Squarespace, Inc. (NYSE: SQSP) directly listed on the New York Stock Exchange and opened trading at $48 per share, below its $50 reference price, for an implied market value of more than $7 billion. The subscription-based website building platform ended the week up 3% for its opening trade.
The week ahead:
In the week's most anticipated listing, ZipRecruiter, Inc. (NYSE: ZIP) plans to complete its direct listing on the New York Stock Exchange this week, and is looking to raise a market value at listing of more than $3 billion. The company operates a large online job marketplace to match employers with qualified candidates. The company competes with Microsoft's (NASDAQ: MSFT) LinkedIn.
Figs, Inc. (NYSE: FIGS) plans to raise about $492 million from 22.5 million shares priced between $16 to $19 each. The apparel brand designs and sells professional clothing for the healthcare industry.
Paymentus Holdings, Inc. (NYSE: PAY) plans to raise over $241 million from 10 million shares priced in the range of $19 to $21 each. The electronic billing platform provides cloud-based bill payment technology to over 1,300 business clients.
Flywire Corp. (NASDAQ: FLYW) plans to raise more than $240 million from 8.7 million shares priced between $22 to $24 each. The global payments platform provides solutions for education, healthcare, and travel industries. The company's top rivals include TransferWise and Stripe.