Eight small companies and four SPACs entered the public market this past week. Continuing a 4Q trend, all eight deals priced below the midpoint; the average IPO priced 11% below the midpoint, traded up 1% on its first day, and finished the week up 3%. Four of the eight had significant insider buying. Two companies postponed their US listings, including GFL Environmental's (GFL) $1.9 billion attempt at the largest Canadian IPO ever. Two companies and one SPAC submitted initial filings.
Three Chinese issuers completed IPOs this past week, led by real estate company Q&K International