Nasdaq Closes Out September With More Than 40 IPOs, Anticipating Strong IPO Activity for October

Nasdaq closed out September with another busy week for initial public offerings, welcoming 14 companies, as well as a couple of companies switching listing exchanges. This week’s 14 IPOs maintain the momentum from the two previous weeks, which saw 15 and 14 IPOs, respectively.

Below we highlight a handful of notable IPOs and switches at Nasdaq this week.

IPOs

Chindata Group (CD)

Chindata Group Holdings Limited, a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, soared in its trading debut, raising $540 million after offering 40 million shares at $13.50 each.

Academy Sports (ASO) 
For its IPO, sporting goods retailer Academy Sports, which is owned by private equity firm KKR, offered more than 15.6 million shares at $13 each.

Velodyne Lidar (VLDR)

Going public through a SPAC, Velodyne Lindar began trading this week.

“Becoming a public company enables Velodyne to invest more in delivering new transformative autonomous technology and powerful ADAS products to make our world a better place. With our broad portfolio of lidar sensors and revolutionary software, we strive to transform communities by advancing safer mobility for all,” said Velodyne CEO Dr. Anand Gopalan.

Switches

American Electric Power Company (AEP)
This week, American Electric Power Company transferred its stock exchange listing to Nasdaq.

“As AEP transitions to a cleaner energy future, we're harnessing the power of technology to create new solutions for our customers, while bringing value to our shareholders,” Nicholas K. Akins, AEP chairman, president and chief executive officer, said in a statement. “Nasdaq’s tradition of innovation aligns well with our company's strategic goals, and we look forward to seeing the ‘AEP’ symbol traded among some of the most inventive and forward-thinking companies in the world.” 

NorthWestern Energy (NWE)

At the start of October, NorthWestern Energy switched its listing to Nasdaq.

"NorthWestern has a century-long history of providing safe, reliable and affordable electric and natural gas services across Montana, South Dakota, Nebraska and Yellowstone National Park,” said Bob Rowe, President and Chief Executive Officer. “Nasdaq is home to many of the world's most innovative companies and is a natural fit as NorthWestern continues to expand its environmental stewardship and sustainability efforts.”

“NorthWestern Energy is committed to providing sustainable energy to meet customer needs, while protecting and enhancing the natural environment,” said Nasdaq Stock Exchange President Nelson Griggs. “Their listing on Nasdaq will allow them to efficiently attract investors as they continue to provide safe, reliable and innovative energy solutions that create value for all stakeholders.”

As October gets underway, Griggs noted on CNBC that he anticipates another strong month for IPO activity. He also indicated that he is speaking with a lot of companies about December listings.

Explore the IPO Calendar to learn more about upcoming IPOs and recent filings.

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