As the IPOs (Initial Public Offerings) all over the globe are suffering from poor launches and poorer growths we did not expect any new startups anytime soon. New innovations have led to the rise of startups in the industry who are trying to get listed on the stock exchanges and make some big bucks.
Centogene, which provides genetic testing and rare disease diagnostic products, filed on Friday with the SEC to raise up to $69 million in an initial public offering. The Rostock, Germany-based company was founded in 2006 and booked $50 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol CNTG. SVB Leerink, Evercore ISI, Baird and BTIG are the joint book runners on the deal. No pricing terms were disclosed. German diagnostic services provider Centogene filed for a $69 million US IPO. This is the second IPO from Europe which has made it a good market for the launch of the IPOs.
It will be interesting to see how the firm fares after getting such a good and positive response from the markets. If the IPO does not do well in the run with such a good hedstart it will be an utter disappointment and utter disgrace to the industry names. The stocks will get better in the coming week with trade war slowing down and the economic conditions stabilizing the markets around the globe. It's just a wait and watches for now.
Tags : IPOs , genetic testing, poor launches, genetic testing, IPO gains,