IPO News This Week: Roku, PQ Group Lead 7 Offerings Due Out

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There were seven initial public offerings (IPOs) on the calendar last week, and all seven succeeded in gaining access to the public markets. The total amount raised was $1.2 billion and the average first-day pop was 16%.

Six IPOs are on the coming week’s calendar and a seventh is listed only as week of September 25. The seven companies are looking to raise a combined total of around $1.3 billion.

Here’s a recap of last week’s IPOs:

Best Inc. (NYSE: BSTI), a China-based delivery company backed by Alibaba, raised $450 million, about half the company’s original plan, in a downsized offering at the low end of the $10 to $11 price range. Shares got a first-day pop of 5.2% and finished the week up 21%.

Celcuity LLC (NASDAQ: CELC) raised $23 million in an upsized offering at $9.50 per share, near the high end of the range. Shares got a first-day pop of 50% and closed the week up about 44%.

Despegar.com Corp. (NYSE: DESP) raised $332 million at $26 a share, the high end of the expected IPO range. Shares popped 22% on the first trading day and closed the week up nearly 24%.

Krystal Biotech Inc. (NASDAQ: KRYS) raised $40 million in an upsized offering at $10 a share, the midpoint of the expected range. Shares got a first-day pop of 6.4% and closed the week up 0.6%.

Zai Lab Ltd. (NASDAQ: ZLAB) raised $150 million in an upsized offering at $18 a share, the high end of the expected range. Shares jumped 55% on the first day of trading and closed the week up 54%.

Oasis Midstream Partners L.P. (NYSE: OMP) raised $128 million at an IPO price of $17, below the expected range of $19 to $21. Shares dipped 1.5% by week’s end.

Secoo Holding Ltd. (NASDAQ: SECO) raised $111 million at $13 a share, near the high end of the expected range of $11.50 to $13.50. Shares dropped 23% on the Friday IPO.

Through the week ending September 22, IPO ETF manager Renaissance Capital reported that 100 IPOs have priced in the United States so far this year, up nearly 41% year over year. Total proceeds raised through last week equaled $23.5 billion, up 107% year over year.

For 2016, Renaissance Capital reported a total of 105 IPOs, down 38% year over year from 170 in 2015. Total 2016 proceeds amounted to $18.8 billion, compared with a 2015 total of $30 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

Gadsden Growth Properties is a real estate investment trust (REIT) focused on acquiring, developing and managing nonresidential property in the southwest United States. The company plans to offer 3.5 million shares in an expected price range of $9 to $11 to raise $10 million at an implied market cap of $58 million. Sole underwriter is National Securities Corp. Shares are listed as “week of” and will trade on the New York Stock Exchange — American under the ticker symbol GADS.

RYB Education is a Beijing-based provider of early childhood education in China. The company plans to offer 7.8 million American depositary shares (ADS) in an expected price range of $16 to $18 to raise $132 million at an implied market cap of $488 million. Each ADS represents one ordinary share. Underwriters for the offering are Credit Suisse, Morgan Stanley, China International Capital and BNP Paribas. ADSs are expected to price Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol RYB.

Deciphera Pharmaceuticals is a clinical stage biopharmaceutical firm developing cancer treatment for solid tumors. The company plans to offer 6.3 million shares in an expected price range of $15 to $17 to raise $100 million at an implied market cap of $491 million. Underwriters are JPMorgan, Piper Jaffray, JMP Securities and Nomura Securities. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol DCPH.

NuCana is a Scotland-based clinical stage biopharmaceutical company developing chemotherapies for resistant tumors. The company plans to offer 6.7 million ADSs in an expected price range of $14 to $16 to raise $100 million at an implied market cap of $463 million. Each ADS represents one ordinary share. Underwriters are Citi, Jefferies, Cowen and William Blair. ADSs are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol NCNA.

Roku offers an over-the-top video streaming platform including hardware and software. The company plans to offer 15.7 million shares in an expected price range of $12 to $14 to raise $204 million at an implied market cap of $1.23 billion. Underwriters include Morgan Stanley, Citi, Allen, RBC Capital Markets, Needham, Oppenheimer and William Blair. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ROKU.

Nightstar Therapeutics is a U.K.-based clinical-stage biotechnology firm working on developing gene therapies for rare retinal diseases. The company plans to offer 5.4 ADSs in an expected range of $13 to $15 to raise $75 million at an implied market cap of $393 million. Each ADS represents one ordinary share. Underwriters include Jefferies, Leerink Partners, BMO Capital Markets, Wedbush Securities and Chardan Capital Markets. ADSs are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol NITE.

PQ Group Holdings is a supplier of specialty materials, catalysts and inorganic chemicals. The company plans to offer 29 million shares in an expected price range of $21 to $23 to raise $638 million at an implied market cap of $2.83 billion. Underwriters include Morgan Stanley, Goldman Sachs, Citi, Credit Suisse, JPMorgan, Jefferies, Deutsche Bank, KeyBanc Capital Markets, Evercore ISI and Nomura Securities. Shares are expected to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol PQG.