The U.S. initial public offering market is facing another busy week with at least $1 billion worth of deals expected to come, led by healthcare services provider BrightSpring Health Services Inc. That company is planning to raise up to $959.4 million by offering 53.3 million shares priced at $15 to $18 each. That would give the company a valuation of $3.1 billion. The Louisville, Ky.-based company is backed by KKR & Co. Inc.
KKR,
and is planning to list on Nasdaq under the ticker ‘BTSG.’
BTSG,
Immunotherapy company CG Oncology is also expected to hit the market this week with a deal that could raise up to $212 million at a valuation of about $970 million. CG Oncology is a late-stage clinical biopharmaceutical company that’s developing bladder cancer drugs including its product candidate, cretostimogene. More high-flying companies may be ready to dive in to the market too, as social media platform Reddit is reportedly eyeing an IPO in March, according to Reuters. The San Francisco company is valued at about $10 billion, said the report, which cited people familiar with the deal. At least two other companies set IPO terms early Monday. Arrivent BioPharma Inc. is planning to offer 8.3 million shares priced at $17 to $19 each, and Finnish sports is planning to offer 100 million shares priced at $16 to $18 each. The Renaissance IPO ETF
IPO,
has gained 27.6% in the last 12 months, while the S&P 500
SPX,
has gained 21.8%.
