China Dominates IPO News This Week

There were four initial public offerings (IPOs) on the calendar last week and all four succeeded in gaining access to the public markets. The total amount raised was $347.2 million and the average first-day pop was 45%.

Five IPOs are on the coming week’s calendar, and they are looking to raise a combined total of nearly $2.1 billion, about six times more than last week’s capital raise.

Here’s a recap of last week’s IPOs:

CarGurus Inc. (NASDAQ: CARG) raised $150 million by selling 9.4 million shares at $16 per share. Despite pricing at $16, shares entered the market at $29. From the original pricing, shares were up 78% to close out the week.

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OrthoPediatrics Corp. (NASDAQ: KIDS) raised $52 million by selling $4.0 million shares at $13 per share. Shares actually entered the market at $18 per share, a premium of 38.5% from the original pricing. Shares closed the week up 44%.

Restoration Robotics Inc. (NASDAQ: HAIR) raised $25.2 million by selling 3.6 million shares at $7 per share. Shares ended the week up 37% from the original pricing.

OptiNose Inc. (NASDAQ: OPTN) raised $120 million by selling 7.5 million shares at $16 per share. However shares entered the market at $20 per share. To close out the week, the stock was up about 19% from the original pricing.

Here are the five companies seeking a place in the public markets next week.

Qudian is one of the largest online providers of small cash credit products in China in terms of the number of active borrowers and the amount of transactions. The company plans to offer 37.5 million American depositary shares (ADSs) in the range of $19 to $22 apiece to raise $825 million at the maximum price. The underwriters for the offering are Morgan Stanley, Credit Suisse, Citigroup, China International Capital Corp and UBS Investment Bank. ADSs are expected to price Tuesday and begin trading on the New York Stock Exchange (NYSE) under the symbol QD.

MongoDB is a leading modern, general purpose database platform. The company expects to sell 8.0 million shares in the range of $18 to $20 per share to raise $160 million at the maximum price. The underwriters for the offering are Morgan Stanley, Goldman Sachs, Barclays and Allen. Shares are expected to price Wednesday and begin trading on the Nasdaq under the symbol MDB.

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Rise Education Cayman operates in China’s junior English Language Training, which refers to after-school English teaching and tutoring services provided by training institutions to students aged three to 18. The company plans to offer 22.0 million shares in the range of $12 to $14 per share to raise $308 million at the maximum price. The underwriters for the offering are Morgan Stanley, Credit Suisse and UBS Securities. Shares are expected to price Thursday and begin trading on the Nasdaq under the symbol REDU.

SEA operates an integrated platform consisting of digital entertainment (focused on online games), e-commerce and digital financial services (focused on e-wallet services), each localized to meet the unique characteristics of Greater Southeast Asia. The company expects to sell 49.69 million shares in the range of $12 to $14 per share to raise $695.66 million at the maximum price. The underwriters for the offering are Goldman Sachs, Morgan Stanley and Credit Suisse. Shares are expected to price Thursday and begin trading on the NYSE under the symbol SE.

LiveXLive Media is one of the world’s only premium internet networks devoted to live music and music-related video content. The company will offer 7.69 million shares in the range of $12 to $14 per share to raise $107.69 million at the maximum price. The sole book runner for the offering is BMO Capital Markets. Shares will begin trading on the NYSE under the symbol LXL.

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