Global-E Online, Ltd. (GLBE), an Israel based company that offers online store solutions for promoting goods in the global markets, is launching its IPO in the Nasdaq on May 11.
Global-E Online's service enables the customers to buy goods from over 440 merchants, 59% of those being based in the UK. The company works with both small and world renowned brands, which includes Marc Jacobs, a fashion brand; Forever 21, a trendy clothing retailer; Sigma Sports, a sportswear brand; Reformation, a women clothing brand; Marks & Spencer, a clothing and homeware retailer; and many others. The platform supports 25 languages, offers local pricing and over 150 payment methods, and manages all customs, shipping, and refund issues.
The company is aiming at selling 15M shares at $23 to $25 to boost the value to $3.60B. GLBE expects to raise $331.30M with its IPO at a price of $24 per share.
In 2020, Global-E Online's earnings amounted to $136M, twice as much as in 2019. As per the Grand View Research research in 2020, the ecommerce market was worth $9.10T in 2019 and may reach $27T by 2027.
Global-E Online, Ltd. IPO: Key Facts
● Yield Potential: 33%
● IPO Date: May 11, 2021
● Exchange: NASDAQ (trading as GLBE)
● IPO Size: $360M
● Starting Price: $23 to $25 per share
● Market Cap: $3,413B
● Underwriters: Goldman Sachs, Morgan Stanley, Jefferies, Piper Sandler, JMP Securities, KeyBanc Capital Markets, Raymond James
● Earnings, in 2020: $136M
● EBIT, 2020: $8M
● Net Profit, in 2020: $4M
● Net Debt, 2020: 0
You can find Global-E Online, Ltd. Security Issue Memo on the SEC website.
You can apply to trade Global-E Online, Ltd. IPO before 7:00 pm UTC+2 on May 10. In order to trade on an IPO, you need an investment account with Freedom Finance. The minimum investment amount is $2,000.
As there is a huge number of people willing to invest into IPO's, you may receive shares worth a smaller amount than you specified in your order. Learn how to increase your allocation and get more IPO shares here.