Poshmark, Oatley, Petco lead IPO 2021 docket
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After 2020 proved to be a banner year for initial public offerings, with companies like Airbnb and DoorDash going public, that trend is expected to continue in 2021 as U.S. stocks trade at record levels.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABNB | AIRBNB INC. | 150.66 | -0.61 | -0.40% |
| DASH | DOORDASH INC. | 155.02 | +2.26 | +1.48% |
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Petco Health and Wellness, Poshmark and Oprah-backed Oatly are just some of the companies seeking to tap the public markets early in the new year, with Petco and Poshmark recently setting terms for their listings.
PETCO
Earlier this week, Petco, which will trade under the ticker "WOOF" on the Nasdaq Global Select Market, said it was seeking to raise as much as $816 million, according to an SEC filing. Petco is seeking to sell 48 million shares at a price between $14 and $17 per share.
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If Petco sells its shares at the high-end of the range, it would value the company at $4.4 billion.
Petco announced late last year that it was going public, the third time it has done so. It has previously been acquired by private-equity firms CVC Capital Partners and Canadian Pension Plan Investment Board for $4.6 billion in 2016.
Petco also went private in October 2006, when it was acquired by private equity firms TPG Global and Leonard Green & Partners.
POSHMARK
Redwood City, Calif.-based Poshmark, which allows users to buy and sell fashion, will sell 6.6 million shares between $35 and $39 apiece, hoping to raise as much as $257.4 million, according to an amended S-1 filing.
Poshmark, whose IPO is being led by Goldman Sachs and Barclays, will trade under the ticker symbol "POSH" and will also be listed on the Nasdaq Global Select Market.
If Poshmark sells its shares at the high-end of the range, it would value the company at $2.9 billion.
Earlier this week, FOX Business exclusively reported that Sweden-based Oatly, which uses oats to make vegan products like oat milk, yogurt, and cheese, is slated to go public sometime this year.
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OATLY
The company, backed by the likes of Oprah Winfrey, Natalie Portman, and rapper Jay-Z’s entertainment company Roc Nation, could raise $1 billion and has reportedly hired Morgan Stanley, JP Morgan Chase and Credit Suisse to advise on the IPO, according to CNBC. Blackstone Group last July led a $200 million round of funding for Oatly.
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AFFIRM
Fintech company Affirm Holdings, which has gained popularity during the coronavirus pandemic, is also poised to go public. In a filing on Tuesday, the San Francisco-based tech company led by former PayPal co-founder Max Levchin, said it hopes to raise $935 million.
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It will also trade on the Nasdaq Global Select Market under the ticker "AFRM."
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FOX Business' Jeanette Settembre contributed to this story.
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