Weekly Secondary Performance Recap ( 7.20.18)

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This past week 11 secondary offerings came to market and IPO Boutique placed BUY ratings on 6 of them. In all, $0.62bn was raised by companies in the secondary market this week.

The average gain of IPO Boutique BUY rated offerings this week at first trade was 0.2%

The average gain of IPO Boutique Neutral rated offerings this week at first trade was 0.0%.

The last 20 IPO Boutique ‘BUY’ rated secondary offerings have produced an average gain of 2.7% at first trade and an average gain of 7.5% at the high of their first-day of trading.

Secondary offerings were surprisingly scarce for this past week with just 11 offerings…many very small in size. The largest in size was a $206m cash raise coming from Carbonite Inc (CARB) which opened +1.3% yet closed -1.3%. In fact, the majority of the offerings this week (9 of 11) broke their offering price during their debut session. The best deal this week from a cash-raise greater than $25m was the Goldman Sachs led Redfin Corp (RDFN) offering which opened +5.5% and closed +5.4%.

There is currently one secondary offerings on the schedule for next week, Materialise NV (MTLS).