The IPO Calendar is thin this week – a sure sign that the market is warming up for summer’s last run. InMode Ltd., an Israeli medical device maker that caters to plastic surgeons and dermatologists, is one of three companies set to go public later this week. (We’ll have more on that in a minute.)
Beyond this week, there are no IPOs on the calendar for the next two weeks. This blank slate is in keeping with the IPO market’s seasonal hiatus from the middle of August until after Labor Day. After all, even IPO bankers need some time for some fun in the sun.
Eyes on Hong Kong
Investors will keep watching the headlines from Hong Kong, where protesters intend to disrupt the Monday morning commute in a face-off with Beijing over human rights, according to Bloomberg.
Monday, Aug. 5th, is the day when AMTD International (HKIB proposed) expects to start trading on the New York Stock Exchange. Bankers priced this IPO of about 20.8 million American Depositary Shares at $8.38 each on Monday morning in Hong Kong – above the midpoint of the deal’s price range of $8.10 to $8.48. IPOScoop does not have a call on this offering. (The Hong Kong-New York time difference is 12 hours.)
AMTD International says it is a leading Hong Kong-based financial institution, noting in the prospectus: “We are one of the few financial institutions with extensive financial industry knowledge and experience across Greater China that is majority-owned and managed by local Hong Kong entrepreneurs and professionals.”
Around the World
Two IPOs are scheduled for Wednesday night pricing to start trading Thursday morning. One company is based in Israel. The other one is headquartered in China.
Let’s take a look.
Beauty Tech from Israel
InMode Ltd (INMD proposed), based in Yokneam, Israel, developed and commercialized products using medically accepted radio frequency (RF) energy technology, which can penetrate deep into the subdermal fat, allowing adipose tissue remodeling. The company provides machines and tools used by plastic surgeons and dermatologists to perform minimally invasive treatments for face and body contouring – for example, to reduce fat under the chin or along the jaw line or to reduce abdominal fat and sculpt a leaner look.
Holographic AR Ads from China
WiMi Hologram Cloud (WIMI proposed), based in Beijing, provides holographic AR (augmented reality) advertising services and holographic AR entertainment products. About 80.3 percent of its revenue came from holographic AR ad services for the three months ended March 31, 2019, while about 19.7 percent of its revenue during that period came from its holographic AR entertainment products, the prospectus says. This IPO is a carryover from last week.
(For more information about these companies, please check the IPO Profiles on IPOScoop.com.)
Week of Aug. 12th
The IPO Calendar is blank for the week of Aug. 12th. That’s not surprising, considering the market traditionally slows down in the last half of August. But that could change when the SEC’s filing window opens again for business on Monday morning.
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 opinions.