Latest news with #LukasMuehlbauer
&w=3840&q=100)
Business Standard
16 hours ago
- Business
- Business Standard
Jefferson Capital valued at $1.2 billion after strong Nasdaq debut
Private equity-backed Jefferson Capital has secured a valuation of $1.2 billion after its shares rose 26.7% in their Nasdaq debut on Thursday, signaling a steady recovery in investor appetite for listings with strong fundamentals. The consumer debt collector's shares opened at $19 apiece, above its offer price of $15 per share. The Minneapolis, Minnesota-based company and some existing investors raised $150 million by selling 10 million shares in the IPO. The US IPO market has recovered in recent weeks after President Donald Trump's shifting trade policies rattled investors and froze new listings earlier this year. The rebound is likely to be selective, led by high-quality and long-anticipated issuers, IPOX research associate Lukas Muehlbauer said. Jefferson's total revenue jumped 34.1 per cent to $433.3 million in 2024 compared with the previous year, continuing a steady trajectory since 2019. The debut mirrors strong first-day performances last week of cancer diagnostic firm Caris Life and Slide Insurance . Stablecoin issuer Circle Internet and digital bank Chime also made stellar debuts earlier this month. But companies such as eToro, Voyager, and Omada, hot on debut, are trading below opening price as of last close. "The initial pop is often fueled by the scarcity of an allocation, while the subsequent trading helps establish a more sustainable, long-term market price. Ultimately, this dynamic is less about fading interest and more about the market undertaking a healthy process of price discovery," said Muehlbauer. Founded in 2002, Jefferson purchases and manages unpaid consumer debts in the U.S., Canada, UK and Latin America. It helps banks, credit card issuers and other lenders recover debt. The company, which competes with PRA Group and Encore Capital Group in its core U.S. market, was acquired by U.S.-based private equity firm J.C. Flowers in 2018.
Reuters
27-01-2025
- Business
- Reuters
Drug developer Maze Therapeutics eyes up to $728 million valuation in US IPO
Jan 27 (Reuters) - Drug developer Maze Therapeutics said on Monday it was targeting a valuation of up to $728.1 million in its New York initial public offering, set to be the first U.S.-based biotech firm to debut this year. The South San Francisco, California-based company is seeking up to $132.6 million by offering 7.8 million shares priced between $15 and $17 each. The IPO could be one of the several offerings from the biotech sector in the coming weeks as a clutch of pharmaceutical companies looks to test investor appetite towards the industry. "Despite investors shying away from the sector since the election, we're still hopeful that easing monetary policy could provide a tailwind throughout the year," said IPOX research analyst Lukas Muehlbauer, adding the recent biotech IPO filings are a positive sign. Drug developers Aardvark Therapeutics, Aurion Biotech, Sonna Therapeutics, Metsera, and Odyssey Therapeutics are among the IPO hopefuls that have filed their paperwork in recent weeks. Maze, backed by healthcare venture firms ARCH Venture and Third Rock Ventures, as well as Alphabet's (GOOGL.O), opens new tab venture capital arm GV, raised $115 million in a funding round just over a month ago. The company is developing drugs to treat renal, cardiovascular and metabolic diseases. Maze's pipeline includes two lead experimental candidates for chronic kidney disease - MZE829, in a mid-stage study, and MZE782, in an early-stage study with initial data expected in the second half of 2025. The company is also developing MZE001, an experimental therapy to treat a rare muscle disorder Pompe disease, with Japan's Shionogi (4507.T), opens new tab, after a 2023 agreement for the therapy with French drugmaker Sanofi ( opens new tab fell apart due to U.S. Federal Trade Commission objections. J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities are the underwriters for the offering. Maze will list on the Nasdaq under the symbol "MAZE".
