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The biggest name this week is Chinese e-commerce giant Wowo Ltd. (Nasdaq: WOWO). The company follows in the tremendous footsteps of Alibaba Group Holding Ltd. (NYSE: BABA), another Chinese e-commerce company that had the largest U.S. IPO of all time in September.
The other four upcoming IPOs this week include an eye treatment firm, two medical equipment providers, and a company that has developed a capsule for detecting colorectal cancer…
Five Upcoming IPOs This Week
Wowo Ltd. (Nasdaq: WOWO) is a leading e-commerce service in China. The company owns e-commerce site "55tuan," considered the "Groupon Inc. of China" by Renaissance Capital, a manager of IPO-focused ETFs. It also owns e-commerce site "WoWo Mall," mobile commerce infrastructure "WoWo Mobile," and electronic management system "WoWo EMS." Wowo posted $29 million in sales from September 2013 to September 2014. Wowo is set for a $60 million deal by selling 6 million ADSs at a $9 to $11 price range. It is valued at $384 million. The Beijing-based company will be trading American Depository Shares (ADSs) – U.S. dollar-denominated shares that disregard currency conversions in order to gain a larger investor base.
Inotek Pharmaceuticals Corp. (Nasdaq: ITEK) is a clinical-stage company that develops therapies for glaucoma and other eye diseases. It has an eye drop glaucoma treatment in phase II trials and hopes to finish phase III by 2017. Inotek plans to raise $65 million by offering 4.6 million shares at a $13 to $15 price range. According to Renaissance Capital, a manager of IPO-focused ETFs, the company pushed back its IPO twice but is now slated to go public sometime this week. Close peer Ocular Therapeutix Inc. (Nasdaq: OCUL) has soared 138% since its July 2014 opening.
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