Israeli tech IPOs Global-e Online, Similarweb disappoint in debut

Global-E Online

12/05/2021 20:13

** Israeli-based cos Global-e Online  GLBE.O  and Similarweb
 SMWB.N  both stumble in debut on Weds
    ** GLBE opens at $24.25 vs $25 IPO price. But e-commerce
firm's stock has recovered somewhat and last up 1.72% at $25.43
    ** Global-e, which has strategic relationship with Canadian
e-commerce giant Shopify  SHOP.TO   SHOP.N , sells 15 mln shares
at top of $23-$25 filed range, raises $375 mln  urn:newsml:reuters.com:*:nL4N2MZ3UV
    ** Shopify has 5.5% post-IPO stake in Global-e, per filing https://www.sec.gov/Archives/edgar/data/1835963/000119312521146626/d190716df1a.htm#rom190716_16
    ** Goldman, Morgan Stanley and Jefferies leading GLBE's IPO
    ** SMWB opens at $20.76 vs $22 IPO price and still in the
red
    ** Market intelligence software co's shares fall despite
pricing IPO of 8 mln shares $1 above $19-$21 marketed range
 urn:newsml:reuters.com:*:nBw694K1ca
    ** JP Morgan, Citigroup, Barclays, and Jefferies leading
SMWB's IPO
    ** Offerings come amid a tough backdrop, as inflation fears
spark selloff in tech and growth stocks  .N 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))