What a difference a year makes. November 2017 is shaping up well. Nine IPOs are set for the first week. Bankers expect to raise almost $2 billion. Another three deals are on the IPO calendar for the following week of Nov. 6, 2017.
That traffic is in sharp contrast to November 2016, when the IPO calendar produced only two deals – one priced on Nov. 1 and the other on Nov. 3. The reason, in a word, was politics. The 2016 presidential election’s outcome fooled the experts, and the IPO market needed time to adjust to the future.
Note: Over the last 16 years, from 2001 through 2016, November’s IPO calendar has turned out an average of 17 offerings per month. The busiest November came in 2007 with 38 IPOs and the slowest in 2008 with one.
Banking on Software and Cement
More than a few IPO bankers will be spending Halloween night at the office. This week’s traffic starts with a Tuesday evening pricing of two IPOs on Oct. 31 to start trading on Wednesday morning, Nov. 1. Both names have attracted some investors’ attention. They are Altair Engineering (ALTR – proposed) and Loma Negra (LOMA – proposed).
Altair Engineering, based in Troy, Michigan, provides enterprise-class engineering software. The company offers an integrated suite of software that optimizes design performance across various disciplines.
Loma Negra, based in Buenos Aires, is considered Argentina’s leading cement producer.
Craving Clean Water and Pop Culture
Two other IPOs on this week’s calendar are also reportedly showing signs of interest from Wall Street. These deals – Evoqua Water Technologies (AQUA – proposed) and Funko (FNKO – proposed) – are expected to be priced Wednesday evening to start trading on Thursday morning.
Evoqua Water Technologies, based in Pittsburgh, is a provider of mission critical water treatment solutions. The company offers services, systems and technologies to support its customers’ full water lifecycle needs. Evoqua has about 200,000 installations worldwide.
Funko, based in Everett, Washington, makes pop culture toys, collectibles and other consumer product items designed to appeal to fans of movies, comics, cartoons, anime and sports teams. The company offers licensed vinyl figures and bobbleheads, as well as licensed plush, action figures, and licensed electronic items such as USB drives, lamps and headphones. Funko is best known for its vinyl Pop! figures.
(For more information about these companies and others on the IPO calendar, please check the profiles found on IPOScoop.com’s website.)
Riding on into November
For the week of Nov. 6, 2017, the IPO calendar lists three deals expecting to raise about $740 million. However, when the SEC opens its filing window again on Monday morning, anything can happen.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinion.