The rush for the IPO on Wall Street has been strong so far in 2021 and has no intention of slowing down. As the U.S. economy unlocks and the vaccinated population continues to grow, a slew of companies around the world are considering listing their shares on Wall Street, adding to the 550 initial public offerings investors have already seen. The number has already surpassed the record 480 IPOs recorded last year. Public offerings aren’t slowing down anytime soon, however. Here are some of the upcoming IPOs on Wall Street.
The Chinese ridesharing app is expected to debut on the NYSE in the coming days. According to its filing with the United States Securities and Exchange Commission (SEC), Didi’s 288 million US depository shares will be listed at a price of $ 13-14 per share. With that, the company will raise $ 4 billion, making it one of the largest IPOs seen by U.S. investors in recent years. Didi’s shares could be listed as early as next Wednesday on the New York Stock Exchange. The company is aiming for a valuation of $ 60 billion, according to Reuters. Four ADS represent one Class A common share.
The company operated in China and faced competition from Uber before, before the latter left China. Didi operates in 16 countries or nearly 4,000 cities with 493 active users per year. The company plans to use the amount raised to invest in its technological capabilities, including our shared mobility, electric vehicle and autonomous driving technologies. The funds will also be used to grow in international markets.
Medical device maker CVRx may also be listed on the stock exchange soon. Recent SEC filings show that CVRx offers investors 6,250,000 common shares in the price range of $ 15 to $ 17 per share to list on the NASDAQ index. “We estimate that the net proceeds from the sale of 6,250,000 common shares under this offering will be approximately $ 91.5 million at an assumed initial public offering price of $ 16.00 per share,” indicates the folder. The amount could increase to $ 105 million if the Underwriters exercise their option to purchase additional shares in full. The company plans to use the funds raised for the expansion of our direct sales force and sales organization.
CVRx markets BAROSTIM NEO, a medical device for heart failure and resistant hypertension. The company is backed by leading medical technology investors including Johnson & Johnson. A subsidiary of Johnson & Johnson Innovation holds a 31.8% stake in the company before issue, which will increase to 21.4% after issue.
Looking to invest in US stocks? Open a free account with Stockal – India’s first borderless investment platform.
Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.
Leave a Reply