In a quiet week for IPO activity, Amalgamated Bank closed its IPO, and biotechnology-focused Aridis Pharmaceuticals began trading on the NASDAQ. Renaissance Capital, a manager of IPO-focused exchange-traded funds, noted that 60 IPOs have raised a combined $13.1 billion in the second quarter of 2018, and that small-cap healthcare companies – mostly biotechs – have accounted for 40% of these IPOs.
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