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Excelerate Energy, which operates floating liquefied-natural-gas terminals, is one of two companies slated to go public this week.
Excelerate is scheduled to price its deal on Tuesday and trade the next day, Barron’s has reported. The Woodlands, Texas, company has filed to sell 16 million shares at $21 to $24 each, meaning it could raise as much as $384 million if the IPO prices at the top of its expected range. This would make Excelerate the biggest offering so far in the second quarter.
Excelerate will trade on the New York Stock Exchange under the symbol EE. Barclays , JP Morgan and Morgan Stanley are lead underwriters on the deal.
The war in Ukraine and volatility has caused IPOs to slow down significantly. Only 26 companies have listed their shares using a traditional offering as of April 4, totaling $2.4 billion, according to Dealogic. This compares to 101 businesses, totaling $43.2 billion, for the same period in 2022.
Some companies have pulled their IPOs recently. LinkDoc, of Beijing, is a healthcare technology company that had filed in July to sell 10.8 million American depositary shares at $17.50 to $19.50 each, according to a prospectus. LinkDoc on Monday officially pulled the IPO. In an April 11 letter to the Securities and Exchange Commission, the company cited current capital markets conditions as the reason for withdrawing the IPO.
Genius Group, an edtech platform and education company, is also on tap to trade this week. The Singapore company is selling about 3.3 million shares at $5 to $6 each, a prospectus said. It plans to trade under the ticker GNS on the New York Stock Exchange American. (NYSE American is the former American Stock Exchange.)
Boustead
Securities is the underwriter on the deal.
Genius Group is slated to price its offering later Monday and trade Tuesday, a person familiar with the situation said.
Genius had expected to go public earlier this year and, in February, had filed to offer 7.3 million shares at $5 to $6 each. The underwriter on the deal was ThinkEquity. In March,
Genus
slashed the number of shares it would offer to 3.3 million and listed Boustead as its underwriter.
Write to Luisa Beltran at luisa.beltran@dowjones.com
Read More: Excelerate Energy to Begin Trading This Week