Pivotal and GrafTech Lead in Week of Diverse IPOs

​This past week saw initial public offerings from technology, industrials, and healthcare industries. Pivotal and GrafTech led IPOs with multi-billion-dollar valuations. 

• This past Friday, enterprise cloud computing firm Pivotal (NYSE: PVTL) raised $555 million during its IPO. According to TechCrunch, the realized market capitalization after Pivotal's IPO is over $3 billion. The company had been previously backed by its majority owner, Dell, as well as Microsoft, Ford, and General Electric.

• Last Thursday, Surface Oncology (NASDAQ: SURF), a cancer immunotherapy company in Cambridge, MA, raised $119.5 million during its initial public offering. Surface also raised more equity during its IPO debut when it sold a large number of shares set at the IPO price to Novartis Industries.

• Last Monday, Utah-based education technology company Pluralsight filed for its initial public offering, intending to trade on the NASDAQ under the ticker "PS" later this year. According to a TechCrunch report on the IPO filing, the firm incurred losses of $96.5 million for fiscal year 2017. Pluralsight cites competition from firms such as General Assembly, Cornerstone OnDemand, Udacity, Udemy, and LinkedIn Learning. 

• Last Thursday, GrafTech International (NYSE: EAF) raised $525 million during its initial public offering. GrafTech manufactures carbon and graphite products, including flake, powders, and other products for the iron and steel industries.
  

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• Last Wednesday, Vrio (NYSE: VRIO) withdrew its IPO, which had been previously filed on March 7th. AT&T, the parent company, withdrew its Latin America DirecTV business' public offering just hours before the scheduled debut. According to Reuters and a press release, AT&T cited current market conditions as its reasoning for IPO withdrawal.