This is another busy week of upcoming IPOs, with five companies ready to go public, according to Renaissance Capital, a manager of IPO-focused ETFs.
However, the biggest news is that Snap Inc. (NYSE: SNAP) could go public as soon as March.
On Feb. 2, the parent company of Snapchat released financial details ahead of the Snap IPO.
These were the most important details:
- Snapchat described itself as a "camera company" in its IPO prospectus. That's important because many only think of the company as a social media app.
- Snapchat has roughly 160 million daily active users (DAUs).
- Snapchat will trade on the New York Stock Exchange (NYSE) under the symbol "SNAP."
- Snapchat generated $404.5 million in revenue in 2016.
- Snapchat reported a net loss of $514.6 million for 2016.
Editor's Note: We've made a free, exclusive Snapchat stock guide available for Money Morning readers. You can find out everything you need to know before investing in the Snapchat IPO, right here.
We also learned Snapchat will take a "founder-led approach" in terms of issuing shares. On the Snapchat IPO date, shareholders will receive Class A Snapchat shares, which don't have voting power.
Snapchat still hasn't set an exact date for its IPO. But releasing this information means it will happen sooner than later.
So until then, these are the five IPOs on our radar investors need to watch.
The Top 5 Upcoming IPOs to Watch This Week
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The first IPO to watch this week is from the Mauser Group (NYSE: MSR).
The Mauser Group was founded in 1896 and is based in Amsterdam. According to its website, Mauser is the most comprehensive industrial packaging company.
The company has more than 90 production locations in 18 countries across the globe. It reportedly booked $1.6 billion in sales from Sept. 30, 2015, to Sep. 30, 2016.
MSR shares are expected to trade between $20 and $22 per share.
The second IPO to watch this week is Foundation Building Materials (NYSE: FBM).
Founding Building is based in California and was founded in 2011. According to Renaissance Capital, the company is a leading North American distributor of building products.
Founding Building's products include:
- Drywall
- Steel
- Stucco
- Insulation
- Fasteners
- Acoustical ceilings
- Tools
- Accessories
FBM shares are expected to trade between $17 and $19 per share.
The third IPO to watch this week is Clipper Realty (NYSE: CLPR).
Clipper was founded in 2015 and is based in New York. According to Renaissance Capital, the company owns a total of six properties in Brooklyn and Manhattan.
From June 30, 2015, to June 30, 2016, Clipper generated $87 million in sales.
Clipper is hoping to raise over $100 million in its IPO. CLPR shares are expected to trade between $13 and $15 per share.
The fourth IPO to watch this week is Visterra (Nasdaq: VIST).
Visterra was expected to go public last week but is now considered day-to-day for its IPO listing.
The company develops vaccines for:
- Influenza A
- Dengue
- Zika
- Multiple myeloma
Visterra applies its Hierotope platform to identify unique disease targets. It then designs and engineers precision antibody-based biological medicines for infections and noninfectious diseases.
Visterra plans to price its shares between $12 and $14 per share.
The final IPO to watch this week is Sachem Capital (NYSEMKT: SACH).
Sachem Capital was founded in 2010 and is based in Connecticut. The company targets borrowers who have been underserved by traditional lenders.
According to its website, Sachem Capital acts within two to three days to meet a borrower's funding requirements.
Sachem Capital reportedly had income growth of 68% in 2013 and 60.5% in 2014.
SACH shares are expected to trade at $5 per share.
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