US IPO Weekly Recap: Smith Douglas completes its first US IPO of the year, gaining 14%.
It’s Yosinkum.
A company went public last week, completing the first U.S. IPO of the year.
Georgia-based home builder smith douglas (SDHC), which has a market capitalization of $1.1 billion, was priced at a high to raise $162 million. Operating in the Southeast region, Located in the southern United States, the company builds and sells single-family homes to first-time homebuyers and empty nesters. The company saw solid growth in home sales in 2022, although it has a significant concentration of business, particularly in Atlanta. Smith Douglas closed the week up 14% on its first day and traded fairly flat on its second day.
Several new filings were filed last week, led by Peruvian healthcare companies. measure (AUNA) has applied to raise approximately $200 million in funding.
| 4 reports during the week of January 8, 2024 | |||
|---|---|---|---|
| Issuer Business | transaction size | sector | chief underwriter |
|
alto neuroscience (Aro) |
$100 million | health care | Jeffries |
| Phase 2 biotech developing biomarker-driven treatments for depression and schizophrenia. | |||
|
measure (measure) |
200 million dollars | health care | Morgan Stanley |
| It provides health plans and operates hospitals in Peru, Colombia, and Mexico. | |||
|
elite biotechnology (ZYBT) |
20 million dollars | health care | tiger broker |
| It is a Chinese veterinary vaccine provider focused on livestock. | |||
|
love and health (LLLLU) |
$50M | SPAC | EF Hutton |
| It is a blank check company founded by Waton Financial, a Hong Kong-based financial services company. | |||
The IPO schedule appears quiet at the moment, but with a string of new filings and updates recently, a number of large issuers could launch in the coming weeks.
Two recent additions to the multibillion-dollar list could be released after the holidays. Kazakhstan’s “super app” provider Kaspi.kz (KSPI), Healthcare Provider Could Raise $1.5 Billion in Funding Brightspring Health (BTSG), could raise $1 billion. Another recent submitter is a Phase 3 bladder cancer company. CG Oncology (CGON) may also be released.
Several other long-publicly listed companies have recently updated their prospectuses, raising the possibility of more IPO launches. This includes specialist insurers. portegra (TFG), American Healthcare REIT (AHR), a Chinese electric vehicle brand Zikr (ZK).
Street checks are expected for one company over the next week as three lockdown periods expire.
IPO Market Snapshot
The Renaissance IPO Index is a market capitalization weighted basket of newly public companies. As of January 11, 2024, the Renaissance IPO Index was down 5.2% year-to-date while the S&P 500 was up 0.3%. Renaissance Capital’s IPO ETF (IPO) tracks an index, and top ETF holdings include Kenvue (KVUE) and Coinbase Global (COIN). The Renaissance International IPO Index fell 6.0% year-to-date, and ACWX fell 1.8%. Renaissance Capital’s International IPO ETF (IPOS) tracks the index, and top ETF holdings include Wise and Kuaishou.
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Editor’s note: The summary bullet points for this article were selected by Seeking Alpha editors.
