Summer lull? What summer lull? Showing that initial public offerings wait for no one, this week is shaping up to be the busiest week in the U.S. initial public offering markets on Wall Street in over a decade. Twenty-five companies will be taking the IPO plunge this week, the most since August of 2000, reports The Wall Street Journal.
Leading the pack in terms of projected value is Synchrony Financial—the soon to be spun off consumer credit wing of General Electric. Synchrony will be stepping up to the plate on Thursday with what analysts are projecting to be the biggest IPO of the year so far and the largest since Facebook’s in 2012.
Synchrony filed for its IPO in March, and it is set to release 125 million shares of common stock priced between $23 and $26 a share. If it hits the median stock price, the company will raise about $3 billion, bringing the company’s total valuation to a little over $20 billion.
Synchrony offers branded credit cards for stores—notably Walmart, Amazon and JC Penny- as well as consumer loans. GE will still own 85 percent of Synchrony after the IPO, until it distributes its remains shares.
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