IPO Roundup: Games Global, RF Acquisition, and more

seekingalpha05-13

In recent IPO developments, a spin-off from auto giant Geely Auto, ZEEKR (NYSE:ZK), the Chinese premium EV brand, successfully priced its upsized IPO at the top of the range, raising $441M at a $5.2B ...

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II","QQQ":"纳指100ETF","BK4588":"碎股","GGL":"Games Global Limited","SHIM":"Shimmick Corp.","RR":"Richtech Robotics"},"translate_title":"IPO综述：Games Global、RF收购等","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KDLY":1,"ZK":1,"SHIM":1,"RR":1,"RFAIU":1,"RF":1,"RAY":1,"JDZG":1,"GGL":1,"DDC":1,"BTOC":1,".IXIC":0.9,"QQQ":0.6,"TQQQ":0.6,"SQQQ":0.6,"MNQmain":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"NQmain":0.6},"content_text":"In recent IPO developments, a spin-off from auto giant Geely Auto, ZEEKR (NYSE:ZK), the Chinese premium EV brand, successfully priced its upsized IPO at the top of the range, raising $441M at a $5.2B market cap, with the stock closing the week up 35%. This week will also feature the pricing of Games Global (GGL), which plans to raise $254M at a $2B market cap. The company, known for developing casino-style gaming content and providing B2B solutions to online gaming operators, boasts a portfolio of over 1,300 games but relies heavily on one customer for revenue. Adding to the optimism, New York Stock Exchange President Lynn Martin recently spoke on Bloomberg Surveillance, expressing confidence in the IPO market. She noted that the market is opening up and expects a normal year for IPO activity on the exchange, indicating a positive outlook for companies looking to go public. However, the Renaissance IPO has gained only 1.4% YTD, lagging behind the S&P 500's 9.5% gain. Here are some of the other major headlines in the IPO market: Coming IPOs that are expected to price this week  Games Global (GGL) is raising $253.8M in an initial public offering by issuing 14.5M shares at an estimated price range of between $16 and $19 per share. Description: A global developer and distributor of online casino-style games. Armlogi Holding (BTOC) is raising $10M by offering 2M shares at a price of $5 per share. Description: A Chinese warehousing and logistics service provider. Raytech Holding (NASDAQ:RAY) is raising $6.8M by offering 1.5M shares at a price range of $4 to $5, a 40% decrease from its previous filing of 2.5M shares. Description: A Hong Kong-based company that sources and wholesales personal care electrical appliances. Jiade (NASDAQ:JDZG) is raising $9.9M by issuing 2.2M shares at an estimated price range of $4 to $5 per share. Description: Chinese education support service provider. Kindly MD (KDLY) is raising $7M by issuing 1.3M shares at a price of $5.50 per share. Description: A provider of specialty outpatient chronic pain treatment services in Utah. RF Acquisition Corp. II (RFAIU) is raising $100M by issuing 10M units at a price of $10 per unit. Description: A blank check company targeting the deep tech sector in Asia.  Note: Delays and last-minute changes may impact IPO debuts.  New notable filings  Hong Kong-based HN Acquisition I (YHNAU), led by executives from Norwich Capital, has filed with the SEC to raise up to $60M in an initial public offering. The company plans to offer 6M units at $10, each containing one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. It plans to list on the Nasdaq under the symbol YHNAU. Description: A blank check company aiming to target businesses with strong management teams and potential for recurring revenue. Lianhe Sowell International Group (LHSW) has filed with the SEC to raise up to $12M in an initial public offering. It plans to list on Nasdaq under the symbol LHSW. Description: A Chinese machine vision company. Premium Catering (Holdings) has filed with the SEC to raise up to $20M in an initial public offering. It plans to list on Nasdaq but has not yet selected a symbol. Description: A certified Halal food caterer in Singapore.  Lockup period expirations  Shimmick Corporation (NASDAQ:SHIM) on 5/13/2024. Price movement over the past six months: -48%. Dominion Diamond (NYSE:DDC) on 5/15/2024. Price movement over the past six months: -86.5%. Richtech Robotics (NASDAQ:RR) on 5/15/2024. Price movement over the past six months: -72.6%.  SA Commentary  \"Games Global has shown impressive growth and profits, with increasing revenue, operating profit, and free cash flow,\" writes Donovan Jones, SA Investing Group Leader of IPO Edge. Given Kindly's dropping revenue on a small base, lack of demonstrated ability to expand operations profitably, myriad risks, and shareholders being able to sell into the IPO, investing group leader Donovan Jones suggests avoiding it.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435375195"}