Israel is home to two tech IPOs on this week’s “most wanted” list: Global-E Online, Ltd. (GLBE proposed) and SimilarWeb (SMWB proposed). These Israeli tech companies are among nine IPOs on this week’s IPO Calendar – plus one SPAC. Bankers expect to raise about $1.86 billion, if all 10 deals get done.
Backed by Shopify, Global-E Online provides retailers with a cross-border e-commerce platform that offers customer messaging in over 25 languages and payment processing in more than 100 currencies. The company, based in Petah Tikvah, Israel, also offers global tax and customs calculations, international shipping and returns as part of its seamless platform for global e-commerce. The company entered into a partnership agreement in April 2021 with Shopify, the Canadian global e-commerce company. Shopify is also a principal stockholder.
Global-E Online’s platform serves a retail clientele at all price points – from Forever 21, the fast-fashion discount chain – to Marks and Spencer, the iconic British department store – and high-end labels like Marc Jacobs, Michael Kors and Versace.
Goldman Sachs, Morgan Stanley, Jefferies, Piper Sandler, JMP Securities, KeyBanc Capital Markets and Raymond James are the joint book-runners.
Global-E Online’s IPO is scheduled for pricing Tuesday night to trade Wednesday morning, May 12. The IPO consists of 15 million shares at $23 to $25 to raise an estimated $360 million, if priced at the mid-point.
SimilarWeb offers AI-driven digital intelligence that enables companies to analyze apps and website traffic – their own and that of their competitors. Media companies, digital ad agencies and marketers, retailers and travel sites are among SimilarWeb’s customers. Its client roster includes such blue-chip names as Google, Booking.com and Walmart, according to its website. SimilarWeb is based in Tel Aviv.
J.P. Morgan, Citigroup, Barclays and Jefferies are the joint book-runners.
SimilarWeb’s IPO is also set for pricing Tuesday night, May 11, to trade Wednesday morning, May 12. The IPO is modest in size – just 8 million shares at $19 to $21 each to raise an estimated $160 million, if priced at the mid-point.
For a look at the rest of this week’s IPOs, please see the IPO Calendar.
(For more information, you can click the hyperlinks on company names on the IPO Calendar and those links will take you to the IPO profiles on IPOScoop.com.)
(Never trade on proposed symbols. You might wind up owning something on the OTC Bulletin Board.)
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