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After a bit of a slowdown in the first half of 2020 amid the pandemic, the securities market in North America has seen quite a pickup in public debuts in the past year. The market is expected to grow wider in 2021 as many more private companies are in line to go public.
Companies like Oatly, Coinbase and Bumble have added to the public debut frenzy this year through their bumper share market launch and valuation jump post listing.
Keeping this trend in view, let’s list some upcoming public listings that investors must look forward to.
Robinhood Markets Inc.
The enterprise is a stock brokerage fintech application that quickly gained popularity among young investors. Although is has received major flak for “gamifying” trading, it is one of the most talked-about public debuts expected this year.
Robinhood Markets’ announced its initial public offering (IPO) plans on July 1. In its IPO filings with the US Securities Exchange Commission, the brokerage app revealed that it saw a four-fold surge in its revenue in the three months between January and March.
The fintech player has proposed to trade on the NASDAQ under the ticker “HOOD”. The underwriters for this public listing include Goldman Sachs & Co, JP Morgan, Barclays, and Citigroup, among others.
The brokerage application company plans to use its IPO proceeds to pay off its debts, and to meet its working capital, capital expenditures and general corporate needs.
Reuters reports that the company may be valued at about US$ 40 billion at the IPO. The company has reportedly raised about US$ 5.6 billion with the last funding round held in February 2021, as per Crunchbase.
Robinhood is backed by investors including Sequoia Capital and Andreessen Horowitz.
Stevanato Group
Stevanato Group focused on the production of drug containment products, including the glass vials used for the COVID-19 vaccines. The company caters to the biotechnology and life sciences industry apart from pharmaceuticals.
The Italy-based glass vial manufacturer’s listing is likely to hit the markets on July 16 this year, with the stock expected to be listed on the New York Stock Exchange (NYSE).
As per reports, the enterprise is likely to seek valuation of over US$ 7 billion through its IPO.
Stevanato plans to offer some 40 million shares at the IPO, along with six million more shares for the over-allotment option. These shares be offered at a price band of US$ 21 to US$ 24, with the company expecting to earn proceeds worth US$ 592 million, or about US$ 682 million if the overallotment option is exercised.
The company has proposed the ticker symbol ‘STVN’ for its NYSE listing.
As per its SEC filing, Stevanato plans to use the net proceeds from the IPO to expand its manufacturing facilities in Piombino, Italy, to establish a greenfield plant in US and China, and for general working capital and corporate expenses.
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Philips Edison and Company Inc.
A real estate investment trust, Philips Edison is the owner and operator of omni-channel shopping centers focused on grocery stores. The company has equity interests in 300 shopping centers, with a 100 per cent ownership of 278.
The enterprise is set to be launch on the NASDAQ via an IPO and has proposed ‘PECO’ as its ticker.
Philips Edison is set to offer 17 million shares at its IPO, with a price band of US$ 28 to US$ 31. It aims to raise about US$ 502 million through its public listing. Apart from this, the firm has also offered 2.55 million shares for its overallotment option.
As per the NASDAQ, the expected IPO date is July 16 this year. Phillips Edison, in a press release dated July 7, 2021, said that it plans to commence roadshows for its public listing soon.
The real estate investment company looks to use the IPO proceeds to repay an unsecured loan worth US$ 375 million, undertake property acquisitions, and meet general corporate expenses.
The company has onboarded Morgan Stanley, BofA Securities, JP Morgan, BMO Capital Markets, etc as joint book-runners for the offering.
Instacart (Maplebear Inc.)
Instacart, registered as Maplebear Inc., is one of the companies that benefitted largely from the pandemic-led shift in grocery shopping trends.
According to reports, the company plans to go public in 2021, with financial asset management and investment institute Golman Sachs to head its IPO.
The firm could be valued at US$ 30 billion at IPO, reports suggest.
Instacart raised over US$ 2.7 billion in 17 funding rounds, with the last one held in March 2021. Its key investors include Sequoia Capital, Fidelity Management and Research, and Andreesen Horowitz.
Some reports also said that the company may choose the direct listing method instead of an IPO. However, Instacart has not made any public announcements in this regard.
Discord Inc.
Digital chat, voice and video platform Discord is another widely anticipated public listings of 2021.
Refuting reports of merger plans with Microsoft Corporation, the digital chat platform is expected to file its IPO as a measure to stay independent.
Reportedly valued at about US$ 10 billion as of March 2021, the company has won a pact with Sony integrating Discord’s chat platform with Sony’s PlayStation.
With its 140 million users, the company earned US$ 130 million as revenues in the last fiscal year.
As per Crunchbase, the San Francisco-based startup raised over US$ 482 million in 12 funding rounds, with the last round being held in February 2021.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
