Insights

IPOs Keep Coming in September

Initial public offerings (IPOs) are running at their quickest pace in years. Have you been watching?

Volume at the end of August was already close to the total for all of 2017, according to data from ClickIPO. In fact, if you include Spotify’s (SPOT)’s unusual direct listing in April, we’d already be well ahead of last year.

What’s driving the boom? First is the bull market in stocks. Second, there’s a backlog of disruptive companies needing to come to market. That’s especially true in cloud computing, health-care innovation and Chinese technology.

One of the hottest names recently was Tilray (TLRY). The Canadian cannabis firm went public for just $17 in July and then went on a rampage through last week as investors looked for exposure to Canada’s looming marijuana legalization. More recently, sellers have stepped in.

Other health-care related names are holding their gains. Kiniska Pharmaceuticals (KNSA), for example, is up about 75 percent in the last month. Kidney-drug developer Tricida (TCDA) has risen 37 percent over the same period. Avrobio (AVRO), whose technology allows patient-level customization of medicines, has gained 29 percent.

Three big names stand out this month. Chinese electric-car maker Nio (NIO) went public for $6.26 on September 11, and roughly doubled a few days later. Now it’s chopping back closer to its initial price level.

Elanco Animal Health (ELAN), a maker of veterinary medicines for livestock and pets, went public as a spin-off from drug maker Eli Lilly (LLY). It issued its shares at $24, the top of its proposed range, and then shot up another $10 after hitting the market.

The other noteworthy stock would be Farfetch (FTCH), a London-based clothing bazaar that provides hundreds of small boutiques with access to shoppers around the world. FTCH has risen about 50 percent from its $20 pricing level.

In conclusion, IPOs continue to draw interest. Keep an eye on Market Insights for more news.


This article was written by David Russell, TradeStation Securities, Inc., part of the Monex Group Inc, published on 24/09/2018.

Risk Disclaimer: The information above is of general nature only and does not take into account your objectives, financial situation or investment needs. Prior to you make an investment decision, please make sure you carefully read and fully understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other relevant documents that you can obtain from this website. Monex Securities Australia Pty Ltd (AFSL No. 363972; ABN 84 142 210 179) is the Financial services provider. Financial products trading carries risks and may not be suitable for all investors. You are strongly recommended to seek independent financial advice before making any investment decisions.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!