Uber scheduled to enter the Renaissance IPO ETF (NYSE: IPO)
Uber Technologies (NYSE: UBER), which operates the world’s largest on-demand ridesharing network, raised $8.1 billion by offering 180 million shares at $45. At pricing, the company commanded a market value of $75.5 billion and qualifies for inclusion in the Renaissance IPO ETF effective Friday, May 17, 2019.
The Renaissance IPO ETF is designed to provide investors with efficient exposure to a portfolio of U.S.-listed newly public companies ahead of their inclusion in core equity portfolios. By tracking the rules-based Renaissance IPO Index designed by Renaissance Capital research to hold the largest, most liquid newly-listed U.S. IPOs, the Renaissance IPO ETF includes the most economically significant newly public companies. Sizable IPOs are added on a fast entry basis and the rest are added during scheduled quarterly reviews. Companies are removed two years after their initial trade date, when they become seasoned equities.
The article Uber scheduled to enter the Renaissance IPO ETF (NYSE: IPO) originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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