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The IPO market started 2018 off with a strong outcome from an energy related IPO which could potentially be the catalyst needed to churn through a backlog of deals in this sector that are currently in the pipeline.
Liberty Oilfield Services (LBRT) upsized and priced its offering $1.00 above the $14-$16 range. LBRT opened with a 24.7% gain at first trade. The deal traded well in the aftermarket, albeit in a tight positive range.
The REIT on the schedule for this past week, Industrial Logistics Property Trust (ILPT), had a disappointing debut as expected. The deal priced $4.00 below the initial $28-$31 range, $24.00, and opened 1.4% below the offering price with a first trade of $23.70. ILPT did not trade above its offering price during its opening session.
Looking ahead to this week…there are four IPOs on the schedule, click on each logo for a preview:
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