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Highlights
- Vita Coco stock will likely trade on the Nasdaq Global Select Market.
- Vita Coco IPO could gain investors' attention as the company claims to have a 46 per cent market share in the United States under the coconut water segment.
- The underwriting responsibility for the Vita Coco IPO is on Goldman Sachs, BofA Securities, Evercore ISI, Wells Fargo Securities, and Credit Suisse, among others.
The Vita Coco Company, Inc. has set terms for the initial public offering, and it will offer 11.5 million common shares to the public. The New York-based company is a maker of coconut water and other beverages.
The price range of the Vita Coco common shares would be between US$ 18 to US$ 21 per share. As per the documents filed by the beverage-maker, nine million shares of common stock will be sold by Vita Coco's existing stockholders- Verlinvest Beverages SA and RW VC S.a.r.l. The company will offer the remaining 2.5 million shares to potential investors.
Where to buy the Vita Coco stock?
Vita Coco aims to list its shares on the Nasdaq Global Select Market and will trade under the stock symbol 'COCO'.
Potential investors could buy the stock once the company lists its shares on Nasdaq and begins trading. To buy the stock trading in a stock market, investors have an option of setting up a trading account or get it via stockbrokers.
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To buy the pre-IPO stock of Vita Coco, interested investors could try and get it through an investing app called Robinhood Financial. The coconut water seller will reportedly make up to five per cent of the IPO shares available to the customers of the Robinhood investing app.
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Apart from the 11.5 million shares, the underwriters would have an option of purchasing up to 1.725 million additional shares within 30 days. The underwriting responsibility for the IPO has been given to Goldman Sachs, BofA Securities, Evercore ISI, Wells Fargo Securities, and Credit Suisse among others.
Bottom line
According to Form S-1 filed with the US Securities and Exchange Commission (SEC), Vita Coco has emerged as a market leader in the coconut water segment.
The company claims to have a 46 per cent market share in the United States and a 36 per cent relative market share advantage over the next leading competitor.
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In terms of financial performance, Vita Coco seems to have performed well compared to its previous financial performances. For the twelve months ended June 30, 2021, the company's net sales were US$ 334 million, representing an increase of 17 per cent year-over-year (YoY).
