Poshmark, Petco soar in IPO debuts ahead of Oatly
The IPO 2021 pipeline is ripe with hot consumer brands
Oatly CEO: Health, sustainability concerns a major driver for our sales
Oatly CEO Toni Petersson discusses expanding production to meet consumer needs, celebrity investors and the rising popularity of oat milk and dairy alternatives.
2021 is shaping up to be a hot year for initial public offerings following strong debuts from Airbnb and DoorDash with Poshmark and Petco seeing banner first days of trading.
Continue Reading Below
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| POSH | POSHMARK INC. | 73.25 | -1.01 | -1.36% |
Powered by | ||||
POSHMARK
Redwood City, Calif.-based Poshmark, which allows users to buy and sell fashion, priced its offering at $42 per share raising around $277 million, according to an amended S-1 filing.
Poshmark, whose IPO was led by Goldman Sachs and Barclays, trades under the ticker symbol "POSH" on the Nasdaq Global Select Market.
Shares of Poshmark opened at $97.50, valuing the company at around $7 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WOOF | PETCO HEALTH AND WELLNESS COMPANY INC. | 27.60 | +0.60 | +2.22% |
Powered by | ||||
PETCO
Petco, which trades under the ticker "WOOF" on the Nasdaq Global Select Market, raised $816 million, according to an SEC filing. Petco priced its 48 million shares at $18 per share, above the expected range.
RED HOT IPO TREND WILL CONTINUE IN 2021: EXPERT
Shares opened at $26 per share, a gain of 50%, valuing the company at roughly $7 billion.
Petco announced late last year that it was going public, the third time it has done so. It has previously been acquired by private-equity firms CVC Capital Partners and Canadian Pension Plan Investment Board for $4.6 billion in 2016.
GROCERY WARS: BEEF, DAIRY FIGHT FOR SHELF SPACE
Petco also went private in October 2006, when it was acquired by private equity firms TPG Global and Leonard Green & Partners.
AFFIRM
The IPO follows fintech company Affirm Holdings, which has gained popularity during the coronavirus pandemic, went public this week making former PayPal co-founder Max Levchin and investor Peter Thiel even wealthier.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AFRM | AFFIRM HOLDINGS | 110.08 | -2.62 | -2.32% |
Powered by | ||||
Trading on the Nasdaq Global Select Market under the ticker "AFRM" shares have gained more than 100%. They were up another 41% on Thursday, last trading at $137.51, after pricing at $49 per share.
CLICK HERE TO READ MORE ON FOX BUSINESS
OATLY
As for consumer deals on the docket, earlier this month, FOX Business exclusively reported that Sweden-based Oatly, which uses oats to make vegan products like oat milk, yogurt, and cheese, is slated to go public sometime this year.
OPRAH-BACKED OATLY HUNGRY FOR IPO
The company, backed by the likes of Oprah Winfrey, Natalie Portman, and rapper Jay-Z’s entertainment company Roc Nation, could raise $1 billion and has reportedly hired Morgan Stanley, JP Morgan Chase and Credit Suisse to advise on the IPO, according to CNBC. Blackstone Group last July led a $200 million round of funding for Oatly.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business' Jeanette Settembre contributed to this story.
*This story, originally published on 1/8/21, was updated.