IPOs

US IPO Week Ahead: Saudi Aramco attempts largest-ever global IPO as US market preps for December blitz

In the week ahead, Saudi Aramco plans to raise $25 billion at a $1.7 trillion valuation in what would be the largest-ever global IPO, ahead of Alibaba's $22 billion offering in 2014 at a $175 billion valuation.

We are entering the final stretch of 2019, and the window to IPO before year-end is closing. The IPO pipeline is teeming with potential launches, including kitchen supplies giant Reynolds Consumer Products (REYN), which is expected to IPO by the end of the year in its strongest season for revenue. Other potential launches include Ping An’s OneConnect Financial Technologies (OCFT), Brazilian brokerage and wealth manager XP (XP), payment software unicorn Bill.com (BILL), Chinese HR software provider CDP Holdings (CDP), commercial drone developer EHang (EH), and building products distributor US LBM Holdings (LBM).

Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.

In addition, nano-cap auto e-tailer LMP Automotive (LMPX) is again scheduled to raise $12 million at a $45 million market cap, after delaying its offering.

Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.

LMP Automotive Holdings, which operates an e-commerce site where users can buy, sell, and rent cars, plans to raise $12 million by offering 2.1 million shares at a price range of $5.00 to $6.00. At the midpoint of the proposed range it would command a market value of $45 million. LMP Automotive, which was founded in 2017, booked $14 million in revenue over the last 12 months. The Plantation, FL-based company plans to list on the Nasdaq under the symbol (LMPX). ThinkEquity is the lead bookrunner on the deal.

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/27/19, the Renaissance IPO Index was up 35.5% year-to-date, while the S&P 500 had a gain of 25.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Spotify (SPOT) and Roku (ROKU). The Renaissance International IPO Index was up 20.4% year-to-date, while the ACWX was up 17.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.
The article US IPO Week Ahead: Saudi Aramco attempts largest-ever global IPO as US market preps for December blitz 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.

Renaissance Capital

Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

Learn More