Self-driving startup Pony.ai of China filed for an IPO in the U.S. this week.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Meanwhile, four companies – Springview, Oriental Rise, PTL, Samfine Creation – saw their stocks open for trading.
LATEST IPOS AND DIRECT LISTINGS:
Springview (SPHL) opened on October 17 at $5.00. The company that designs and constructs residential and commercial buildings in Singapore had priced its initial public offering of 1.50M shares at a public offering price of $4.00 per share.
Oriental Rise (ORIS) opened on October 17 at $5.10. The integrated supplier of tea products in mainland China had priced its initial public offering of 1.75M ordinary shares at a public offering price of $4 per ordinary share. The company intends to use the proceeds from the offering for settlement of the outstanding amount for the acquisition of the contractual agreement rights of some of its existing tea gardens; establishment and construction of its new production plant; acquisition of new machinery and equipment; and general corporate purposes and working capital.
PTL (PTLE) opened on October 16 at $4.25. The established bunkering facilitator providing marine fuel logistics services for vessel refueling, serving the Asia Pacific market had priced its initial public offering of 1.25M ordinary shares at a price of $4.00 per share. The deal range was $4.00-$6.00.
Samfine Creation (SFHG) opened on October 15 at $4.99. The printing service provider had priced its initial public offering of 2M shares at a price of $4.00.
END OF THE WEEK PERFORMANCE:
- Springview – $4.16;
- Oriental Rise – $7.75;
- PTL – $4.50;
- Samfine Creation – $8.97.
RECENT IPOS TO WATCH: BioAge (BIOA), Innovation Beverage Group (IBG), BKV Corp. (BKV), Guardian Pharmacy (GRDN), Legacy Education (LGCY), and Global Engine (GLE) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.
UPCOMING IPOS: Upcoming IPO and direct listings expected include Pony AI (PONY), Infinity Natural Resources (INR), Upstream Bio (UPB), Basel Medical Group (BMGL), Rivus, and ShipBob.
Click here to see upcoming IPO calendar on TipRanks.
Pony AI has filed with the SEC for an initial public offering of American depositary shares, or ADSs, representing Class A ordinary shares. The company has applied to list the ADSs representing its Class A ordinary shares on the Nasdaq Global Select Market under the symbol ” PONY.” Pony AI Inc. is a Cayman Islands holding company which does not have any substantive business operations by itself. In China, Pony AI Inc. conducts operations through its PRC subsidiaries. The prospectus filed with the SEC states: “Pony is a global leader in achieving large-scale commercialization of autonomous mobility… We aim to mass commercialize our revolutionary autonomous driving technology to deliver safe, sustainable, and accessible mobility to people and businesses around the world.”
Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its Class A common stock on the NYSE under the symbol “INR.” Infinity Natural Resources is an independent exploration & production company “dedicated to the Appalachian region.”
Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol “BMGL.” Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.
ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould report, citing people familiar with the situation. The Chicago-based ecommerce fulfillment service provider has also chosen Citigorup (C) as part of the syndicate, the authors say. An initial public offering could occur as soon as later this year and could value the company at $4B, the authors note.
Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg’s Bailey Lipschultz reports, citing people familiar with the matter. The company is working with banks on a listing, said the people. Rivus, which counts RA Capital Management among its investors, may target raising more than $25M, one of the people said.
Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.