These are the upcoming IPOs (initial public offerings) for the week of February 3 to February 7, based on TipRanks’ IPO Calendar. An IPO refers to the public market debut of a private company. Following the IPO, the company’s shares become available for trade (sale/buy) on the stock exchange.
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There are several advantages and disadvantages of a company going public. The positives include gaining the ability to raise capital, greater liquidity, and improved brand recognition. On the other hand, a publicly traded company faces stringent financial reporting norms, is constantly in the public eye and answerable to shareholders, and experiences high costs related to maintaining compliance with regulatory requirements.
With this background in mind, let’s quickly look at the upcoming IPOs for this week.
FBS Global Ltd.
Singapore-based and Cayman Islands-incorporated FBS Global operates through its wholly-owned subsidiary, Finebuild Systems Pte Ltd. The company offers a full suite of engineering services, including supply of building materials, precast concretes, recycling of industrial wastes, and pavement consultancy services. The company caters to large, medium, and small-scale infrastructure projects.
FBS Global seeks to issue 2.25 million of its common stock for an offer price between $4.50 and $5 a share on the estimated date of February 4. The company intends to list its shares on the Nasdaq Capital Market exchange under the ticker symbol “FBGL.”
Moreover, FBS Global intends to raise $8.5 million in net proceeds from the offering, assuming the offering price of $4.50 per share. Notably, the company intends to use 30% of the net proceeds toward M&A activities, 30% for expanding its existing locations and manpower, 10% for working capital and general corporate purposes, and the remaining 30% for research and development and AI (artificial intelligence) analytics.
Huachen AI Parking Management Technology Holding Co. Ltd.
China-based Huachen AI Parking Management Technology Holding Co. Ltd. is a mechanical parking equipment manufacturing company with operations across Asia, Africa, and America. According to its preliminary prospectus filed with the SEC (Securities and Exchange Commission), Huachen is expected to issue 1.5 million of its common shares for an offer price between $4 and $6 per share. Shares are expected to be listed on the Nasdaq Capital Market exchange on the estimated date of February 5, under the ticker symbol “HCAI.”
Huachen aims to raise roughly $5.53 million in net proceeds from the offering at the assumed mid-point price of $5 a share. The proceeds will be used for various purposes, including 45% toward contracting and operational rights for the new parking lot, 25% for development and upgrading, 20% for recruitment of special staff, and the remaining 10% for working capital and general corporate purposes.
RedCloud Holdings plc.
RedCloud Holdings operates the RedCloud platform that brings together buyers and sellers of FMCG (fast-moving consumer goods) products. The company intends to issue 11 million of its ordinary shares at an offer price range of $4 to $6 per share. Shares are expected to be listed on the Nasdaq Capital Market exchange on the estimated date of February 6, under the ticker symbol “RCT.”
RedCloud hopes to raise roughly $47.05 million in net proceeds from the offering and use the amount for multiple purposes, including the repayment of working capital loan, market expansion efforts, enhancement of AI capabilities, platform upgradation, and general corporate purposes.
Titan America SA
Titan America SA claims to be an industry leader in building construction materials such as cement, ready-mix concrete blocks, and aggregates. According to the preliminary prospectus, Titam America seeks to issue 24 million of its common shares, of which 15 million are being sold by the selling shareholders. The offer price is pegged between $15 and $18 per share. Titan America will not receive any proceeds from the selling shareholders’ share sale.
Titan America has applied for its common stock to be listed on the New York Stock Exchange (NYSE) under the ticker symbol “TTAM.” Titan America aims to raise roughly $130.7 million in net proceeds from the offering at the assumed mid-point price of $16.50 a share. The proceeds will be used toward capital expenditures and general corporate purposes, including acquisitions of businesses of technologies. Shares are expected to be listed on the estimated date of February 7.
Wellgistics Health, Inc.
Wellgistics Health operates in the pharmaceuticals and healthcare services sector, with a portfolio of companies comprising a pharmacy, wholesale operations, and a technology division that operates a platform for hub and clinical services. The company seeks to issue 900,000 of its common shares at an offer price between $5 and $6 per share on the estimated date of February 7. Shares will be listed on the Nasdaq Capital Market exchange under the ticker symbol “WGRX.”
Wellgistics aims to raise net proceeds of roughly $3.74 million to improve the company’s capitalization and financial health, enhance market visibility, and create a public market for its stock.
