Investing

2017 IPO Season Gears Up With Potential Roadshow Launches

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There are no initial public offerings (IPOs) on the calendar for next week, but that doesn’t mean that there will be no activity. There are two recent filers that become eligible to launch IPO roadshows next week and several more that could launch as early as Monday.

The two new arrivals are AppDynamics, a cloud-based enterprise software company, and Ramaco Resources Inc., a metallurgical coal miner.

For 2016, IPO ETF manager 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.

AppDynamics has filed preliminary documents to raise up to $100 million. Joint bookrunners for the offering are Morgan Stanley, Goldman Sachs, JPMorgan, Barclays, UBS Investment Bank, Wells Fargo Securities, William Blair, and JMP Securities. The stock has applied to trade on the Nasdaq under the ticker symbol APPD. No further details are available yet.

Ramaco Resources has also filed preliminary documents for an IPO of up to $100 million. No underwriters have yet been selected. In our first look at the company’s filing we wondered if there was a link between President-elect Donald Trump’s promise to bring back coal mining and the timing of this proposed IPO. The company has applied to trade on the Nasdaq under the ticker symbol METC. No additionals details were provided.

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