';
Views Article – Sharenet Wealth

News, North America

Germany’s BioNTech is the latest to test troubled IPO waters

Oct 9 (Reuters) – German biotech firm BioNTech SE has cut its expected stock price and will offer fewer shares in the latest major U.S. market flotation since the tumultuous collapse of WeWork owner The We Company’s offering last month. BioNTech, which is researching how to make personalized therapies to attack cancer, said on Wednesday it expected to price at between $15 and $16 per American Depository Share (ADS) for up to 10 million ADS. It had earlier expected to issue up to 13.2 million ADS at $18 and $20 per share. Following is a list of some of the biggest companies to float in what has been a disappointing year for initial public offerings (IPOs) on Wall Street. ** Peloton Interactive Inc — IPO Price: $29.00 — Debut date: Sept 26 — Debut open: $27.00; Debut close: $25.76 — Performance since IPO: down 20% ** SmileDirectClub Inc — IPO Price: $23.00 — Debut date: Sept 12 — Debut open: $20.55; Debut close: $16.67 — Performance since IPO: down 51% ** Ride-hailing company Uber Technologies Inc — IPO Price: $45.00 — Debut date: May 10 — Debut open: $42.00; Debut close: $41.57 — Performance since IPO: down 35% ** Ride-hailing company Lyft Inc — IPO Price: $72.00 — Debut date: March 29 — Debut open: $87.24; Debut close: $78.29 — Performance since IPO: down 46% ** Workplace messaging firm Slack Technologies Inc — Direct Listing on NYSE — IPO reference price: $26.00 — Debut date: June 20 — Debut open: $38.50; Debut close: $38.62 — Performance since debut: down 33% ** China’s Wanda Sports Group Co Ltd — IPO Price: $8.00 — Debut date: July 26 — Debut open: $6.00; Debut close: $5.16 — Performance since IPO: down 50% ** Luxury online reseller RealReal Inc — IPO Price: $20.00 — Debut date: June 28 — Debut open: $28.00; Debut close: $28.90 — Performance since debut: down 25% ** China’s largest live-streaming platform DouYu International Holdings Inc — IPO Price: $11.50 — Debut date: July 17 — Debut open: $11.02; Debut close: $11.50 — Performance since IPO: down 31% Source- Reuters data, Regulatory filings –Performance is based on stock’s Thursday close (Reporting by Shariq Khan in Bengaluru Editing by Matthew Lewis)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.