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US IPO Weekly Recap: 4 IPOs pop 40% including Eventbrite, Farfetch and Elanco

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Six IPOs raised $2.9 billion this week. Four traded up over 40%, and none finished the week below issue.

Spun out of Eli Lilly, Elanco Animal Health ( ELAN ) priced above its range to raise $1.5 billion. The company popped 50% on its first day, the best first day return for a billion-dollar IPO in 5 years .

Fast-growing tech companies Eventbrite ( EB ) and Farfetch ( FTCH ) each priced above the range and popped over 40%. Ticketing platform Eventbrite was a clear buy, with its sales growth, positive cash flow and valuation discount. Luxury goods marketplace Farfetch, on the other hand, shows that investors are putting a high premium on growth, despite heavy near-term losses.

Immuno-oncology biotech Y-mAbs Therapeutics ( YMAB ) clinched the top spot this week, up 50%.

Oklahoma-based Bank7 ( BSVN ) raised $65 million and traded about flat, possibly due to concerns over its energy exposure. Chinese P2P lending platform X Financial (XYF) popped 26% but finished the week at its offer price; prior to the IPO, it disclosed that investors had indicated on about 95% of the deal.

Two IPOs failed to price. Zekelman Industries (ZEK) postponed its $752 million IPO, likely due to uncertainty over the effects of steel tariffs. It is the second steel tube maker to postpone an IPO in 2018, following IPSCO in February. Oil and gas mineral interest owner Remora Royalties (RRI) postponed its $105 million IPO due to market conditions.

6 IPOs During the Week of September 17th, 2018
IssuerBusiness DealSize Market Capat IPO Price vs.Midpoint First DayReturn Returnat 09/21
Y-mAbs Therapeutics ( YMAB ) $96M $564M 7% +50% +50%
Phase 2 biotech developing monoclonal antibody therapies for pediatric cancers.
Eventbrite ( EB ) $230M $2,113M 15% +59% +49%
Online live event ticketing platform.
Farfetch ( FTCH ) $885M $6,302M 25% +42% +42%
Global online marketplace for luxury fashion brands and retailers.
Elanco Animal Health ( ELAN ) $1,510M $8,549M 12% +50% +42%
Spin-off of Eli Lilly's global animal health medicines and vaccines business.
Bank7 ( BSVN ) $65M $197M -3% +0% +1%
Oklahoma City-based bank with seven branches in OK, TX and KS.
X Financial (XYF) $105M $1,511M -5% +26% +0%
Operates a peer-to-peer lending platform in China.

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9 Filings During the Week of September 17th, 2018
IssuerBusiness DealSize Sector LeadUnderwriter
PhaseBio Pharmaceuticals (PHAS) $86M Health Care Citi
Early-stage biotech developing therapies to treat orphan diseases.
SolarWinds (SWI) $500M Technology Goldman
Provides hybrid IT infrastructure management software.
SI-BONE (SIBN) $98M Health Care Morgan Stanley
Manufactures spinal implants for the alleviation of lower back pain.
DD3 Acquisition (DDMXU) $50M SPAC EarlyBird
Blank check company formed to acquire a business in Mexico.
Riley Exploration Permian (REPX) $115M Energy SunTrust
Oil and gas E&P focused on fracking in the Permian Basin.
Graf Industrial (GRAF.U) $225M SPAC EarlyBird
Blank check company formed by SPAC veteran James Graf to acquire an industrial business worth over $1 billion.
SpineEx (SPIX) $17M Health Care ThinkEquity
Developing spinal implants to improve spinal fusion surgeries.
Equillium (EQ) $86M Health Care Jefferies
Phase 1 biotech developing monoclonal antibody therapies for aGVHD & cGVHD.
IMAC Holdings (IMAC) $17M Health Care Cuttone & Co.
Operates a chain of integrated medicine and chiropractic centers.

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The article US IPO Weekly Recap: 4 IPOs pop 40% including Eventbrite, Farfetch and Elanco 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.


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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