The IPO market is set to mark its biggest year measured by dollars raised since 2014
The U.S. IPO market is set for a busy autumn with no fewer than five companies setting terms for their planned initial public offerings early Tuesday, positioning September for a flurry of activity.
“The calendar is active and we expect this to be the most dollars raised since 2014, and the second best year since the 1990 to 2000 period during the internet bubble,” said Kathleen Smith, principal at Renaissance.The IPO market has performed strongly in the year to date, with the Renaissance IPO exchange-traded fund IPO, +0.10% up about 31%, outperforming the S&P 500’s SPX, +0.09% 16% gain and the Dow Jones Industrial Average’s DJIA, +0.26% 12% gain.
That deal is expected to land next week, which may put it ahead of the IPO of WeWork’s parent, The We Co. WE, +0.00%, which will be at least a billion dollars, according to its last filing with the SEC. That sum is likely a placeholder until the company sets terms. The office-space-sharing company is planning to list three classes of stock that carry different voting rights, ensuring that co-Founder and Chief Executive Adam Neumann will control most of the voting power once the deal is closed.
Endeavor combines a talent agency with the world’s biggest mixed-martial-arts organization, UFC, and a range of other assets. The company is planning to list on the New York Stock Exchange, under the ticker symbol “EDR.” The company has long-term debt of $4.6 billion and total liabilities of $7 billion, according to its prospectus.
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