E-commerce

US IPO Weekly Recap: E-commerce and diagnostics debut in a 2 IPO Week – Renaissance Capital

Summary

Two IPOs began trading in another quiet week for the IPO market. In the pipeline, two IPOs and one SPAC submitted initial filings.

Chinese e-commerce play WeTrade Group (WETG) priced at the low end to raise $40 million at a $780 million market cap. WeTrade operates a membership-based platform where it provides technical services and solutions. While the company has demonstrated growth, i…….

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Two IPOs started buying and promoting In a single other quiet week for the IPO market. Inside the pipeline, two IPOs and one SPAC submitted preliminary submittings.

Chinese language e-commerce play WeTrade Group (WETG) priced On the low finish To Increase $40 million at a $780 million market cap. WeTrade operates a membership-based mostly platform the place it provides technical providers and options. Whereas The agency has demonstrated progress, it has a small buyer base and Is working as a going concern. WeTrade popped simply over 400% on its first day and accomplished the week up 378%.

Holdover Virax Biolabs (VRAX) raised $7 million at a $57 million market cap. Working in The united kingdom and Hong Kong, Virax Biolabs provides a portfolio of diagnostics look at kits and med-tech and PPE merchandise for viral illnesses. The agency has a restricted operating historic previous and Is very unprofidesk. Virax soared 264% on its first day and accomplished the week up 107%.

2 IPOs By way of the Week of July 18th, 2022 Issuer
Enterprise Deal
Measurement Market Cap
at IPO Worth vs.
Midpoint First Day
Return Return
at 07/22 WeTrade Group (WETG) $40M $780M -20% +404% +378% Operates a membership-based mostly platform for e-commerce providers in China. Virax Biolabs (VRAX) $7M $57M 0% +264% +107% UK-based mostly supplier of diagnostic look ats and PPE for viral illnesses.

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Two corporations submitted preliminary submittings this previous week. Photo voltaic power agency Photo voltaicMax Know-how (SMXT) filed To Increase $30 million in its third Try and go public. Republic Energy Group (RPGL), which provides Computer software enchancment providers in Southeast Asia, filed To Increase $16 million.

The solely SPAC to submit an preliminary submitting, Whale Level Acquisition (WPAU) filed To Increase $150 million To focus on fintech.

3 Filings By way of the Week of July 18th, 2022 Issuer
Enterprise Deal
Measurement Sector Lead
Underwriter Republic Energy Group (RPGL) $16M Know-how …….

Source: https://www.renaissancecapital.com/IPO-Center/News/93802/US-IPO-Weekly-Recap-E-commerce-and-diagnostics-debut-in-a-2-IPO-Week

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