Now that Alibaba has a firm date, we are finally starting to see a few other flotations test the market waters. Last night, an Israeli tech company, Cyber-Ark Software (CYBR), said it would go public September 24. They are in a hot space: protection from cyber attacks. They are seeking to raise 5.4 million shares at $13–$15.
Still, there's been radio silence from a crop of high-profile U.S. tech names: Box and GoDaddy are two names that immediately spring to mind. Traders are also waiting for Line, a messaging system that is billed as the WhatsApp of Japan.
There are other IPOs out there. Also on September 24th, the largest bank in Colombia, Grupo Aval Acciones Y Valores (AVAL), will go public in a very large offering: 73.5 million shares at $14.96. This is a big one, though it already trades in Colombia the listing here will be worth north of $1 billion.
Citizens Financial, a northeast bank, also announced it would go public September 24.
In the larger picture, however, the IPO market is showing signs of improvement. The Renaissance Capital IPO ETF, a basket of some 60 recently-issued IPOs, is sitting at a new high.