IPOs this week : April 15 - 19, 19

Expected IPO pricings: 

• A big week is on tap for IPO pricings, led by Pinterest (PINS) which has set a pricing target of $15 to $17 to bring in around $1.2B and value the company at around $9B. Pinterest saw revenue jump 60% last year to $756M and is projected to see 45% growth this year to about $1.1B. 
• Other pricing during the week include Palomar (PLMR) and Brainsway (BWAY) on April 16 
• as well as Zoom Video Communications (ZM), Brigham Minerals (MNRL), Turning Point Therapeutics (TPTX) and Hookipa Pharmaceuticals (HOOK) on April 17.

IPO lockup expirations: 

• SI-Bone (NASDAQ:SIBN) on April 15; 
• Osmotica Pharmaceuticals (NASDAQ:OSMT), Studio City (NYSE:MSC) and PhaseBio Pharmaceuticals (NASDAQ:PHAS) on April 16; 
• LogicBio Therapeutics (NASDAQ:LOGC), Niu Technologies (NASDAQ:NIU) and SolarWinds (NYSE:SWI) on April 17.

IPO quiet period expirations: 
Analysts will start buzzing about Levi Strauss (NYSE:LEVI) on April 15. Levi's priced its IPO at $17, above the target range of $14 to $16. Shares closed at $22.22 on Friday. It doesn't appear that Levi's management is getting ahead itself after the company posted a solid Q4 and seeing the share price bounce. "We're still facing some headwinds, including anticipated door closures at traditional wholesale customers, unrest in Europe, as well as Brexit, continued uncertainty around China tariffs, and declines in U.S. retail traffic," stated CEO Chip Bergh on the earnings call.

Jumia (JMIA) began trading on the NYSE on Fri 12 April 2019

“The Amazon of Africa ” has 4 million active customers as of the fourth quarter of 2018, the company said in its S-1 filing. Jumia operates in 14 African countries, including Ghana, Kenya, Ivory Coast, Morocco and Egypt.  Some of Jumia’s biggest customers are Apple, HP and Huawei.

• Priced 13.5 mln ADS IPO at $14.50, the midpoint of the expected $13.00-16.00 range
• Opened for trading at $18.95 
• The largest e-commerce operator in Africa, Jumia Technologies, surged more than 75% on its first day of trading at the New York Stock Exchange on Friday.

Jumia co-CEO Sacha Poignonnec, left, applauds as Jumia Nigeria CEO Juliet Anammah, center, rings a ceremonial bell when the company’s stock begins trading, on the floor of the New York Stock Exchange, Friday, April 12, 2019.

The company was founded in 2012 as Africa Internet Group and is headquartered in Berlin, Germany. Shareholders include the Berlin-based incubator and venture-capital firm Rocket Internet SE, which helped the company with its founding and owns a 20.6% stake. South African company Mobile Telephone Networks Holdings Ltd. owns a 29.7% stake. Other early investors include French insurer Axa CS,  and French telecoms company Orange Sa.

 

Uber files S-1, applies to list common stock on NYSE under ticker "UBER"

UBER vs LYFT vs  BYND vs  PINS vs SNAP

Ride-sharing company Uber has filed its S-1, will list its shares on the NYSE under the ticker "UBER". The lead underwriters on the deal are Morgan Stanley, Goldman Sachs, BofA Merrill Lynch, Barclays, Citigroup, and Allen & Co.

• At this time, there is no expected price range for the IPO, and no set date either. Both of those data points will come in an amended S-1 in the coming week(s). However, UBER appears on track to launch its IPO within the next 2-3 weeks.

• Taking a look at a few of the financial highlights from its filing, gross bookings were up 45% in FY18 to $49.8 million, while revenue climbed 43% to $11.27 billion. The company is far from profitability, though, as it posted a ($3.0) billion operating loss for the year. Adj. EBITDA was also in the red at ($1.8) billion. 
  • A silver lining is that both of these metrics did improve from FY17, when it suffered an operating loss of ($4.1) billion and Adj EBITDA of ($2.6) billion.
  • As for its other key operating metrics, monthly active platform consumers were up to 91 million from 68 million, and total trips jumped to 5.22 billion from 3.7 billion.