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IN PIPELINE – IPO – 09-04-2018
• Meituan Dianping, a Beijing-based online-services firm, is set to launch an IPO this week that could value it at $55 billion. Tencent backs the firm. Read more.
• SIG Combibloc, a Swiss packaging firm, says it plans to raise $1.2 billion (1 billion euros) in an IPO on the Swiss Exchange. Read more.
• Churchill Capital, a New York-based blank check company focused on the predictive data analytics market, now says it plans to raise $450 million in an offering of 45 million units priced at $10 apiece. Previously it planned to offer 40 million units. Jerre Stead, former CEO of IHS, and Michael Klein, managing partner at M. Klein and Company, are cofounders. Citigroup is the underwriter. It plans to list on the NYSE. Read more.
• Funding Circle, the U.K.-based p2p lending platform for small businesses, says it may IPO in London for about $390 million (£300 million). Read more.
• LAIX, the Shanghai-based operator of AI-powered English language learning platform Liulishuo, filed for an $100 million IPO. The firm posted revenue of $25.5 million in 2017 and loss of $37.3 million. IDG Capital(13.4% pre-offering) and GGV (11.7%) back the firm. Morgan Stanley and Goldman Sachs are underwriters. It plans to list on the NYSE as “LAIX.” Read more.
• Principia Biopharma, a San Francisco-based maker of small molecule therapies in the area of oncology, says it plans to raise $75 million in an IPO of 4.7 million shares priced between $15 to $17 apiece. It posted revenue of $5.3 million in 2017 and loss of $28.7 million. Baker Bros (12.3% pre-offering), Morgenthaler Ventures (16.8%), and New Leaf Ventures (16.8%) back the firm. BofA Merrill Lynch, Leerink Partners, and Wells Fargo Securities are underwriters. It plans to list on the Nasdaq as “PRNB.” Read more.