The IPO calendar is empty this week. And with President's Day coming up, don't expect the following week to be busy, either.
Don't panic: This two-week lull in February is an annual occurrence, driven by both the holiday and companies preparing their full 2016 numbers. The number of new filings in 2017 more than doubled as six companies joined the IPO pipeline this past week; we estimate they could raise a combined $2.2 billion. However, recent pricings showed that IPO investors are still in the driver's seat, as last week's three deals came in below expectations, while a biotech withdrew and packaging company Mauser (MSR) chose a sale over IPO.
Snap's (SNAP) highly-anticipated offering continues to dominate headlines, and this upcoming Friday, February 17, is the earliest that it is able to begin marketing.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 6.5% year-to-date, while the S&P 500 is up 3.5%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include First Data (FDC) and TransUnion (TRU). The Renaissance International IPO Index is up 4.7% year-to-date, while the ACWX is up 5.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Aena and ABN Amro. To find out if this is the best ETF for you, visit our IPO Investing page.
