Diverse Companies Lead Last Week’s IPO Activity

A few notable initial public offerings (IPOs) over the past week include the $2.3B raising by PagSeguro Digital, a Brazilian competitor of PayPal, the Blackstone Group's public offering of Gates Industrial Corp., and a middle market immuno-cancer drug research company. ​

• PagSeguro Digital Ltd. (NYSE: PAGS), which operates a mobile e-commerce and payment services ecosystem in Brazil, raised $2.3 billion offering 105.4 million shares at $21.50 per share this past Wednesday.
• Gates Industrial Corp. (NYSE: GTES), a global manufacturer of fluid power products and power transmission belts, offered 38.5 million shares at $19 per share, raising roughly $732 million this past Thursday. Blackstone Group, Gate's private equity parent company, will retain majority voting rights for the Denver-based manufacturing firm.
• ARMO BioSciences Inc. (NASDAQ: ARMO), an immuno-oncology biotech firm based out of Redwood City, CA, opened on the market Friday. The company raised $128 million by issuing more than 7.5 million shares at $17 per share.