No IPOs are scheduled for the week ahead, as the IPO market goes on holiday. Based on this past week's filings, we're in for a busy July after that.
Last week, Renaissance Capital published its 2Q 2019 US Quarterly Review. 62 companies went public during the quarter, a four-year high, raising $25 billion, a five-year high. That brought the 2019 year-to-date total up to 80 IPOs raising almost $30 billion, excluding Slack (NYSE:WORK).
We may see a few new filings. Last year, two companies submitted initial filings during the July 4th week, and three companies filed this week in 2017.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/27/19, the Renaissance IPO Index was up 35.6% year-to-date, while the S&P 500 had a gain of 17.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Elanco (NYSE:ELAN) and VICI Properties (OTC:VICI). The Renaissance International IPO Index was up 13.3% year-to-date, while the ACWX was up 13.6%. Renaissance Capital's International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include SoftBank and Xiaomi.
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.