IPO market faces busy week that includes first cannabis cultivator to list on Nasdaq

A Canadian cannabis company, an oil-and-gas services company, two banks and a smattering of biotechs are among the 10 companies that are expected to complete their initial public offerings this week to mark one of the busiest weeks of the year.

There have been just two other weeks this year with 10 or more deals, according to Kathleen Smith, principal at Renaissance Capital, a provider of institutional research and IPO-themed ETFs. This week’s crop is expected to raise more than $1.1 billion and comes during a period of strong returns, said Smith.

“Returns are the fuel that drives the IPO engine and the IPO index IPO, -0.20% is up about 10% in the year to date,” she said.

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