Speculation accumulation

14 Sep 2020 By Antony Currie Follow @AntonyMCurrie

The cloud-data firm’s $3 bln public debut will be the largest IPO this year, in the busiest week for new listings since 2014. The glut of tech-heavy deals will keep investment bankers happy. But with many of the candidates losing money, investors are betting big on fast growth.

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At least a dozen companies are planning to launch an initial public offering on a U.S. stock exchange in the week starting Sept. 14, according to data from Refinitiv. Between them they could raise some $6.8 billion, the most in a week since Uber Technologies went public in May last year.

Snowflake, the cloud-based data warehouse firm, accounts for around a third of the expected issuance, at some $2.2 billion. Unity Software, which offers a 3D, real-time development platform for video games, could raise $950 million, while fresh food- and beverage-packing company Pactiv Evergreen is targeting $800 million.

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