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US IPOs Weekly Recap
Week of August 10, 2020

CY Seah
Esther Thin

Four IPOs and six SPACs went public in the week of August 10, 2020, led by led by CureVac  (Nasdaq: CVAC), a biotech developer which skyrocketed 249% in its first trading day and closed its first week at 249% above its IPO price.

The China's largest online property platform backed by Tencent, KE Holdings (NYSE: BEKE) raised $2.1 billion at a $23 billion market cap and finished up 48%. The last Chinese issuer to raise over $1 billion was Tencent Music Entertainment Group (NYSE: TME) in December 2018.

The six SPACs went public this past week are:

1.      Dragoneer Growth Opp. (no selected target industry)

2.      FS Development (healthcare business SPAC)

3.      Fortress Value Acq. II (no selected target industry)

4.      dMY Technology Group II (app business SPAC)

5.      RedBall Acquisition (sports industry SPAC)

6.      Lionheart Acquisition II (real estate technology SPAC)

Together, all the SPACs raised a total of $1.9 billion.

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