TM Editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

Image Source: www.gotcredit.com via Flickr

Shares of Malaysian business consulting company VCI Global jumped 29% to open on Thursday at $5.16 after the company had priced a slimmed-down version of its IPO the day before. Earlier this month, another Malaysian IoT solutions company, ARB IOT (ARBB), had also raised $5 million in its U.S. debut.

Latest IPOs and Direct Listings

Cytomed Therapeutics (GDTC) opened on April 14 at $4. The pre-clinical biopharmaceutical company, which is focused on harnessing its licensed proprietary technologies to create novel cell-based immunotherapies for the treatment of human cancers, had priced its initial public offering of 2,412,369 ordinary shares at a price of $4.00 per share.

VCI Global (VCIG) opened on April 13 at $5.16. The company had priced its initial public offering of 1.28 million shares of its ordinary shares at a price to the public of $4.00 per share. VCI Global is a multi-disciplinary consulting group that provides business and boardroom strategy services, investor relation services, and technology consultancy services.

Golden Heaven Group Holdings (GDHG) opened on April 12 at $4. The amusement park operator in China had priced its initial public offering of 1.75 million ordinary shares at a public offering price of $4.00 per ordinary share.

Performance

• Cytomed Therapeutics ended the first trading day at $4.
• VCI Global finished Friday at $2.56.
• Golden Heaven ended the week at $4.

Recent IPOs to Watch

CBL International (BANL), Ohmyhome (OMH), and Mangoceuticals (MGRX) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPOs expire.

Upcoming IPOs

Upcoming IPO and direct listings expected include Cortigent, CCSC Technology, Stripe, Harden Technologies, and Zeekr.

Vivani Medical (VANI) announced the filing of a Registration Statement on Form S-1 with the U.S. SEC for the proposed initial public offering of Cortigent. Cortigent, currently a wholly-owned subsidiary of Vivani, was formed for the purpose of advancing the business of Vivani's neuromodulation division and will continue to be controlled by Vivani following the initial public offering.

CCSC Technology has filed with the SEC for an initial public offering of its ordinary shares. The company said it expects the initial public offering price to be in the range of $4.00 to $6.00 per ordinary share and that it has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol "CCTG." The prospectus filed with the SEC states:

"We are a holding company incorporated in the Cayman Islands. As a holding company with no material operations of its own, we conduct our operations through our operating subsidiaries established in Hong Kong, mainland China, and the Netherlands, primarily in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses. As of the date of this prospectus, we have a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas...

"We produce both OEM, or 'original equipment manufacturer,' and ODM, or 'original design manufacture, interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services, or 'EMS,' companies, who procure and assemble products on behalf of such manufacturing companies. OEM products refer to products we manufacture based on design and specifications provided by customers, while ODM products refer to those products that we design, develop and manufacture based on the specifications provided by customers."

Stripe told employees that it had hired Goldman Sachs and JPMorgan to take it public or to allow employees to sell stock within the next year, The Information’s Cory Weinberg and Becky Peterson have reported. The company is considering both a direct listing and a private-market transaction that would give employees liquidity in the next 12 months, according to an email viewed by The Information.

Stripe, trying to raise a huge sum of money from investors, tried to craft "a compelling pitch" that it is growing faster this year than some of the biggest names in tech, has many more potential lines of revenue than just its core payments business and that it is grabbing loads of customers focused on artificial intelligence, The Information’s Kate Clark and Cory Weinberg reported.

Stripe’s confidential pitch deck to investors, viewed by The Information, "shows how the company is trying to convince them to overlook a sharp slowdown in revenue last year," the report added.

Harden Technologies has filed with the SEC for initial public offering of 2.5 million ordinary shares and said it expects the initial public offering price will be between $5.00 to $7.00 per ordinary share. The company has applied for approval of the listing of its ordinary shares on the Nasdaq Capital Market and has reserved the symbol "HARD" for such listing for the ordinary shares.

The company's prospectus states, "Harden is a waste management and recycling equipment manufacturer in China, specializing in the manufacture of customized industrial shredders and material sorting machines and production lines."

Zeekr, the upscale unit of Chinese EV maker Geely Automobile (GELYF), confidentially filed for a U.S. initial public offering that values the company at more than $10 billion, reports Julie Zhu and Scott Murdoch for Reuters, citing people familiar with the matter. "The plans come as the brand, which competes with Tesla and Chinese peer Nio, sets its sights on marketing its 001 crossover" in Europe for 2023, added the Reuters story.

More By This Author: