Monday IPO News Blitz Led By Olaplex, Toast and Freshworks
(Bloomberg) -- It’s IPO Monday, with at least a half-dozen companies announcing or amending listing plans.
Filings from firms including hair-care products maker Olaplex Inc. and fintech player Allvue Systems Holdings Inc. show how the initial public offering market is back in full swing after the August lull. Nineteen companies raised $5.78 billion last week, the busiest week since mid-July, data compiled by Bloomberg showed.
Here’s a breakdown of Monday’s announcements:
- Olaplex started meeting investors on Monday for an IPO seeking to raise as much as $1.1 billion, according to a filing with the U.S. Securities and Exchange Commission. Existing investors are offering 67 million shares at $14 to $16 apiece.
- Allvue, which makes software for the investment industry, also launched its IPO Monday, seeking as much as $290 million.
- Toast Inc., the software maker for restaurants, boosted its IPO target to raise as much as $783 million. At the top-end of the new range, Toast would be valued at $18 billion.
- Freshworks Inc., a software maker founded in India, increaesed its IPO price range, saying it could now seek to raise up to $969 million, a jump from the original target of $912 million.
- Aka Brands Holding Corp., the owner of apparel brand Princess Polly, also filed to up its targeted range.
- Mattress Firm, the retailer controlled by South African retailer Steinhoff, and Advent International-backed Xplor Technologies announced that they submitted confidential listing documents to U.S. regulators.
Toast, Freshworks and AKA Brands are expected to begin trading on Wednesday. In all, 14 companies are seeking to raise more than $5.5 billion in IPOs on U.S. exchanges this week, the data show.
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