AMERICAS

摘要

The US IPO deluge is set to continue this week as another 19 new issues are scheduled to price. If they all go ahead, this week would rank as the busiest week for number of IPOs priced since the week beginning December 19 2004, according to Thomson Reuters data. However, the uneven quality of recent deal flow suggests that consummating all of these ttransactions may be a tall order. The deal slate is led by the US$3.3bn debut of general electric retail card arm synchrony financial, the US$935m IPO of Blackstone-backed drugs company catalent and the US$528m IPO of advanced driving software company mobileye. There are also three MLPs, but again biotech is a dominant theme with at least eight deals on the calendar. A contrasting lack of follow-on offerings, in part due to earnings season distractions, as well as the relatively small size of many deals have made the digestion challenge easier but there were some clear signs of investor fatigue last week.