It might be the dog days of summer, but initial public offerings (IPOs) keep on coming.
Some $4.3 billion of stock was priced in new companies last month, according to data from ClickIPO. It was the strongest July since 2014 and the second-highest total for July in the past decade.
All the deals came in the second half of the month because Independence Day slowed business in early July. They were also smaller than the norm in May and June.
Most of the best performers were innovators in the health-care or technology industries. Allakos (ALLK), a developer of customized antibodies to prevent food and drug allergies, has more than doubled since its July 18 offering. Fuel-cell maker Bloom Energy (BE) is up 57 percent and cyber-security firm Tenable (TENB) gained 30 percent.
Chinese e-commerce company Pinduoduo (PDD) rose about 7 percent from its IPO. It was the only deal in July weighing in at over $1 billion.
The main non-technology company was Focus Financial Partners (FOCS), which provides services to a network of registered investment advisers. It’s up more than 20 percent from its July 25 offering, which was the second-biggest the month.
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