Welcome to Extreme Investor Network, where we provide you with unique and valuable insights into the world of trading, stocks, bonds, and more. Today, we’re diving into the latest IPO trends and what they mean for the market as a whole.
Last night, data security firm Rubrik priced 23.5 million shares at $32, raising $752 million in its IPO. This marks a significant milestone as the first tech unicorn IPO since last fall. But Rubrik is just one of several companies entering the public market in the next two weeks.
Marex Group, a UK-based financial services company, priced 15.4 million shares at $19, raising $292 million. It will begin trading today on Nasdaq. Additionally, Loar Holdings, specializing in aerospace and defense components, priced 11 million shares at $28, raising $308 million and will trade on the New York Stock Exchange.
Looking ahead, cruise operator Viking Holdings (VIK) is set to offer 44 million shares at $21-$25 next week, potentially raising another $1 billion. When combined, the total IPO haul for April is expected to reach $4.8 billion, making it the third-biggest month in the last three years.
“This is what a slow rebuilding of the IPO market looks like,” says Matt Kennedy from Renaissance Capital. All eyes are on Rubrik as it serves as an important test for the tech IPO market. Despite reporting a net loss, Rubrik’s strong growth is attracting investors ready to bet on tech IPOs without near-term profitability.
The IPO market is slowly climbing out of a two-year rut, with the last two years being some of the worst in decades. Recent IPOs show promise as they are trading above their offering price, instilling confidence in potential investors. Improved valuations for private tech companies are also contributing to positive sentiment in the market.
In addition to Rubrik, other companies in the IPO pipeline include Waystar, Turo, Ingram Micro, Circle, ServiceTitan, Del Monte, Panera Bread, and SeatGeek, among others. While some have filed confidentially, others are rumored to be considering going public in the near future.
At Extreme Investor Network, we aim to provide you with the latest market trends and insights to help you make informed investment decisions. Stay tuned for more updates on trading, stocks, bonds, and all things related to the world of finance.
