chip designers in uka mother(IPO) initial public offeringstoreAfter a “good start” and prompting the US IPO market to recover, two more technology unicorns will also be listed for trading starting this week. Instacart, a grocery delivery service company, is scheduled to go public on the 19th, which is expected to trigger another US IPO trading day boom.
Instacart is scheduled to launch on the 19th under the stock code “CART”NasdaqListed on the exchange, the price is US$30 per share, which is the upper limit of the previous marketed IPO range of US$28 to US$30 per share. The market cap, based on the number of fully diluted shares, is US$9.9 billion.
Instacart previously raised its IPO price range after Arm’s stock price surged on the first day of listing. It ultimately sold 22.2 million shares (about 8%) and raised US$660 million, with a valuation of about US$8.3 billion. However, this is still only after raising funds in 2021. The nearly 21% valuation of US$39 billion also reflects the decline of the US IPO market in recent years.
Analysts at Evecor ISI estimate that Instacart, founded in 2012, has a 22% market share of the US$132 billion online grocery delivery market. It positions itself as a grocery technology company that can help food retailers and provide collaboration opportunities. Partners build delivery and in-store technology, advertising and data services from the ground up.
In addition to Instacart, marketing automation company Klaviyo also raised its IPO price range by 8% on the 18th, from $27 to $29. It is expected to raise $557 million after selling 19.2 million shares, with a valuation of $7.3 billion. The company is expected to list on the New York Stock Exchange under the stock symbol “KVYO”.
The performance of Arm, Instacart and Klaviyo will lay the groundwork for subsequent IPOs from companies like German Birkenstock. Birkenstock plans to list on the New York Stock Exchange under the stock code “BIRK” in October, but terms have not yet been determined. Other companies planning IPOs include Gamer Pakistan, which aims to raise US$8 million, Israeli 3-D printing company, which plans to raise US$6 million, and China Global Murphy Metaverse, which plans to raise US$6 million. Expected to raise US$1 million.
Several other companies are also preparing to issue IPO documents later this year, but bankers and lawyers said the IPO wave may not arrive until early next year.
Finance(TagstoTranslate)Stock(T)ARM(T)Nasdaq
