This Week is the Biggest of 2017 for IPOs

Blue Apron listing is seen as a test for consumer offerings.
William SprouseJune 27, 2017
This Week is the Biggest of 2017 for IPOs

This week is expected to be the busiest so far this year in the market for new shares, MarketWatch reports.

Ten companies are set to list IPOs, according to market intelligence firm Ipreo Capital Markets. Among the companies planning to list are Blue Apron Holdings, the meal-kit delivery service, and health-care company Akcea Therapeutics.

Renaissance Capital said 69 IPOs have priced so far this year, up 73% from the same time period last year. Most offerings have been healthcare related.

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Snap Inc., the parent company of SnapChat, went public in March in what was the biggest IPO since 2014. Snap shares spiked in the first days of trading before falling back to earth, resulting in speculation that the market for consumer IPOs might have cooled.

The Blue Apron launch, the second big consumer IPO of the year, is seen by some as a test of that market. Blue Apron could raise up to $510 million when it prices Wednesday.

Akcea, expected to price Thursday, could raise $135 million. Byline Bancorp Inc., the Chicago bank, is expected to raise as much as $119 million. Akcea is looking to sell 9.6 million shares, expected to price between $12.00 and $14.00 per share, according to the company.

BMO Capital Markets is lead manager for that offering, with Cowen, Stifel and Wells Fargo Securities acting as joint book running managers.

Goldman Sachs, Morgan Stanley, Citigroup and Barclays are some of the underwriters for the Blue Apron IPO.

Tintri Inc., an enterprise cloud company, could raise $109 million if it prices at the high end of its range, Wednesday.

The debut of cable company Altice USA last week was the second-biggest IPO of the year. Altice raised $1.9 billion, selling just under 64 million shares at $30 per share. Altice had been expected to price between $27 and $31.