IPO market braces for 11 deals, including a $1.5 billion deal from China’s Pinduoduo

The initial-public-offering market is bracing for another busy week with 11 deals on tap including a roughly $1.5 billion deal from Chinese shopping app Pinduoduo Inc.

If all 11 deals are completed, it would mark the second-busiest week of the year, after the week of June 25, when 12 deals priced, according to Kathleen Smith, principal at Renaissance Capital, a provider of institutional research and IPO-themed ETFs. Last week, nine out of 10 expected deals priced, with energy company AFG pulling its deal.

Pinduoduo PDD, +0.00% is planning to offer 85.6 million American depositary shares, each representing four Class A shares, priced at $16 to $19 each.

>>> Original Source <<<