Plus   Neg

IPO Watch: Plenty Of Chinese On The Menu


11 companies are scheduled to launch their initial public offering this week to raise a total of $2.0 billion, making this week the busiest IPO week of the year. Three Chinese companies are also expected to list it shares in the US market this week.

Mobile search engine Sogou intends to raise $540 million in the week's largest offering. Sogou is China's second largest mobile search engine and is backed by Tencent and Sohu. The IPO will give the company a market valuation of $4.8 billion. The company is planning to list shares on the NYSE under the ticker symbol "SOGO."

Chinese peer-to-peer consumer online lending platform PPDAI Group and tutoring services company Four Seasons Education also plans for IPO in New York. PPDAI plans to raise $298 million at a valuation of $5.7 billion. The company plans to list its shares on the NYSE under the symbol "PPDF." Four Seasons Education is expected to raise up to $120 million. That company will also list its shares on NYSE under the ticker symbol "FSERC."

Princeton, New Jersey-based AMERI Holdings has filed its IPO to raise $8 million, while WorkSpace Property Trust, a real-estate investment trust, is planning to raise $527 million at a valuation of $1 billion.

Apellis Pharmaceuticals is seeking to raise $185 million and list on Nasdaq under the ticker symbol "APLS." Apellis is developing a novel protein inhibitor for autoimmune and inflammatory diseases.

Three banks, including Metropolitan Bank Holding, CBTX and Meridian Bank, are planning for IPO this week.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT