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Lucky Number Six: Nasdaq Sees Increased IPO Momentum with Six Listings in a Single Day .

On May 4, six companies listed on Nasdaq; the most in a single day since seven companies listed on the exchange on April 22, 2010.

Lucky Number Six: Nasdaq Sees Increased IPO Momentum with Six Listings in a Single Day

By Nelson Griggs / President, Nasdaq Stock Exchange

More than 50 companies have joined our community this year, and on May 4 an additional six joined our exchange, nearly double the number of IPOs we saw during this period last year. The newest members of the Nasdaq family span several sectors, including technology, healthcare, industrials and consumer, hailing from as far east as Boston and as west as San Francisco. Combined, these companies raised a total of approximately $500 million.

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Massachusetts-based cybersecurity company Carbon Black led the charge (Nasdaq: CBLK) during their Opening Bell Ceremony. The company priced on the higher end of their expected $17-$19 range, and saw a 30% pop during their debut, raising $152 million. Carbon Black is the eighth company this year to list on Nasdaq from Massachusetts, making the state home to the second most IPOs this year (California is first with 10 Nasdaq IPOs so far in 2018). Spirit of Texas Bancshares, Inc. (Nasdaq: STXB), BayCom Corp (Nasdaq BCML), Jerash Holdings (US), Inc. (Nasdaq JRSH), ASLAN Pharmaceuticals Limited (Nasdaq: ASLN) and Construction Partners, Inc. (ROAD) also joined the Nasdaq family. Construction Partners concluded the landmark day with the Nasdaq Closing Bell Ceremony.

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The increase in listings also comes at a time as we celebrate the one year anniversary of Nasdaq's Revitalize initiative, our blueprint to reignite the U.S. capital markets by addressing challenges faced by companies in going and staying public. Since the launch of our blueprint one year ago, significant progress has been made to:

  • Effect change to the S.E.C. process for removing repetitive, unsuccessful proposals from proxies
  • Enhance transparency and fairness in the proxy advisory industry
  • Streamline and allow flexibility on quarterly reporting obligations for small and medium growth companies
  • Promote rationalization of classifications for disclosure relief
  • Help smaller public companies by advocating to consolidate displayed liquidity onto a single trading venue

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Nasdaq is the proud home of these companies; as the IPO pipeline remains strong, we expect to see more companies come forward in the coming months.

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