Uber IPO Looms as Market Awaits Pinterest on Thursday

Uber IPO Looms as Market Awaits Pinterest on Thursday

Initial public offerings (IPOs) are headed for their busiest week of the year, even with markets closed on Friday.

Pinterest (PINS) and Zoom Media (ZM) are expected to lead roughly $2.5 billion of deals this week, according to ClickIPO. That will raise the full-year total by more than one-third to over $9 billion. It will also keep attention on the Big Enchilada: ride-sharing giant Uber (UBER), expected in May.

UBER rival Lyft (LYFT) has struggled since its IPO on March 28, but plenty of other new companies have managed to rally since going public. Check out some of these big gainers recently:

  • Jumia (JMIA): The Nigerian e-commerce firm more than doubled from its $14.50 IPO price last week, followed by 25 percent gain its second day of trading. Is it the “Alibaba of Africa?”
  • PagerDuty (PD): The provider of IT-monitoring software rose more than 60 percent from its IPO price. This company is yet another member of the up-and-coming cloud-computing industry.
  • TradeWeb Markets (TW): The electronic exchange for bonds and interest-rate derivatives is up more than 50 percent from its pricing on April 3. It’s also the only deal for more than a $1 billion so far in April.

Returning to this week, PINS is expected to raise about $1.2 billion and ZM is seeking more than $620 million. Both are scheduled to price on Thursday. Markets are closed the next day in observance of Good Friday.

April’s total for IPO proceeds will be at least $4.5 billion, based only on the deals confirmed for the current week. That puts it on pace to be the busiest month since at least October, when ClickIPO shows $4.8 billion of new deals pricing.

ClickIPO preview of upcoming offerings.
ClickIPO preview of upcoming offerings.