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IPO Roundup: Brazilian digital broker XP eyes $1.7B IPO; Chinese air taxi producer to go public

Five companies are lined up to go public this week, three of which are based outside the US

Colorfully written IPO with arrows pointing to the letters
XP offers an alternative to the traditional banks by cutting out the intermediaries in the legacy models of financial institutions

This week's slate of IPOs has an international flavor, headlined by financial firms and flying taxis. 

Pricing Tuesday

XP Inc (NASDAQ:XP), a Brazillian digital brokerage and wealth manager, has its sights set on a $1.7 billion public offering.

The Sao Paulo-based firm intends to offer 72.5 million shares at a price between $22 and $25 per share.

XP, which has offices in Brazil, New York, Miami, London and Geneva, offers an alternative to the traditional banks by cutting out the intermediaries in the legacy models of financial institutions. 

Pricing Wednesday

Bill.com Holdings Inc (NYSE:BILL), a Palo Alto, California-based provider of automated billing and back-office processing services for small and midsize businesses, hopes to raise $150 million in its IPO. 

The company plans to offer 8.8 million shares at a price between $16 and $18 per share.

Bill.com’s artificial intelligence-enabled platform can be used to generate and process invoices, streamline approvals, send and receive payments, reconcile books, and manage cash. 

As of September 30, its partners include more than 70 of the top 100 accounting firms, the company said, and financial institutions such as Bank of America, JPMorgan Chase and American Express.

EHang Holdings (NASDAQ:EH), a Chinese commercial drone developer, expects to offer 3.2 million shares at a price between $12.50 and $14.50 per share en route to a $43 million IPO. 

The company claims to be the first in the world to launch flying taxis, referred to passenger-grade autonomous aerial vehicles (AAVs). The company has 38 such AAVs, developed two command-and-control centers for smart city management and completed more than 70 aerial media performances.

Pricing Thursday

OneConnect Financial Technology Co Ltd (NYSE:OCFT), a Shenzhen China-based provider of operations management tools to financial firms, is on track for a $468 million IPO.

The firm, initially established as the financial technology solutions arm of Ping An Insurance Company of China Ltd, expects to offer 36 million shares between $12 and $14 per share.

The company has operated on its own since November 2017.

Sprout Social Inc (NASDAQ:SPT), which provides a cloud-based platform for businesses to manage social media accounts, is aiming for a $150 million IPO with plans to offer 8.8 million shares between $16 and $18 per share. 

The Chicago company claims to have more than 23,000 customers in 100 countries, which rely on its centralized platform to effectively manage social-media networks, including Twitter, Facebook, Instagram, Pinterest, LinkedIn, Google and YouTube.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

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