Top Recent IPO Listings You Must Know
The recent year witnessed a surge in IPO listing activity which does not seem to be slowing down in 2022. The spike in IPOs in the midst of the pandemic is mostly attributed to ultra-low interest rates and a volley of government stimulus packages. 2021 witnessed around 976 IPOs and several firms relied on the Special Purpose Acquisition Companies (SPAC) route instead of a standard IPO strategy. Let’s look at the top 5 IPOs and what you need to know about them:
1️⃣ Digital World Acquisition Corp (DWAC): Released in Sep 2021 with a current market cap of $1.4 billion, this was a SPAC. Its IPO price was $10 and the stock’s trading at $72.53 at the time of writing this article. The key driver behind DWAC’s steep rise has been its deal with former U.S. President Donald Trump’s social media firm Trump Media & Technology. Its potentially shady past and SEC investigations have not dampened investor sentiment.
2️⃣ ZIM Integrated Shipping Services: The Israel-based container shipping and logistics firm released its IPO in 2021 at $15. It’s famed for being an asset-light company that operates all major global trade routes by leasing vessels but owning very few of its own. Their unique business structure allows them the agility to adapt to global demand shifts, especially during the COVID-19 driven disruption that hit the supply chain and logistics sectors massively with jammed ports and delayed shipments. The stock has surged 292.4% in value since its release and its current market cap of $2.25 Billion.
3️⃣ Roblox Corp: They went public via a direct listing or DPO in March 2021, meaning they issued their shares directly to the public instead of going via intermediaries like investment banks. The IPO was priced at $45 and the company reported a 54% surge in stock price by the first day’s closing bell. Roblox operates a platform that allows users to interact with each other in immersive, user-generated 3D experiences (avatars). Its current market cap is $29.8 billion.
4️⃣ Doximity: It's an online networking platform for medical health professionals. Releasing its IPO in June 2021 at $26, DOCS boasts a current market cap of $9.58 billion. The company’s meteoric rise was fueled by the pandemic as the platform facilitated medical communication between doctors and other related professionals tackling COVID.
5️⃣ Kuaishou: Dubbed as Hong Kong's hottest 2021 IPO, the Chinese short video app firm (TikTok's largest rival in China) surged by 194% after its listing on the HKEX in February 2021. The company's key revenue generation is via live streaming and virtual gifts, as well as advertising and e-commerce. With a debut price of HKD 115, the IPO) raised HKD 41.28 billion Hong Kong dollars.
The Chinese ride-hailing app, Didi’s IPO (NYSE, June 2021) was massive but they were forced to delist under the Chinese government's pressure. They plan to list on the HKSE in the second quarter of 2022.
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