Initial public offering (IPO) stocks were popular in 2021, which was a record year with over 1,000 new listings. After the macroeconomic trends shifted with rising interest rates and high inflation, companies stopped going public and decided to wait out the storm.
With ARM going public on September 14, making the largest public offering since 2021, it seems the trend is finally starting to shift.
What are the next hot IPOs to look out for?
Instacart
Maplebear (Instacart) Inc. is a grocery delivery app service that filed to go public on August 25 and is likely to debut on September 19. It will trade on the NASDAQ exchange under the ticker symbol CART.
Instacart grew quickly during the pandemic when people ordered groceries from home. But since the lockdowns have finished, the order growth has flattened out in 2023.
The company aims to raise $616 million from this process and use the proceeds to satisfy obligations around restricted stock units for employees.
Its share price is likely to be around $26.00 – $28.00. With 331 million shares the company has in total, that would be a valuation of between $8.6 billion and $9.3 billion. Some reports say that after ARM’s successful IPO, Instacart rose the price to $28 – $30.
Instacart isn’t new to this IPO talk. The company planned to go public in 2021 with a valuation of around $39 billion.
Klaviyo
Klaviyo, Inc. was founded in 2012 and provides software technology to companies that captures, stores, analyzes, and predictively uses the companies’ own data to drive measurable, high-value outcomes.
The company filed for an IPO, offering 19.2 million shares for a price of $25 – $27. That would raise up to $310 million.
Klaviyo’s ticker symbol will be KVYO and will trade on the New York Stock Exchange on September 20.
The company reported net income of $15.2 million on a $321.7 million revenue for the six months ended June 30. In the same period last year, Klaviyo reported a net loss of $24.6 million.
Global Mofy Metaverse Limited
Global Mofy Metaverse Ltd. is a Chinese tech firm that provides virtual content and digital marketing services.
More precisely, the company develops digital assets for the metaverse industry utilizing its proprietary “Mofy Lab” technology platform, which combines 3D rebuilt technology and AI interactive technology.
The company plans to raise $30 million by offering 6 million shares for between $4.50 – $5.50. It will be listed on the NASDAQ exchange under the ticker symbol GMM on September 21.
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