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Fintech, Insurance, Bioprosthetics Firms Prep For IPOs

Elizabeth Balboa

With Financial Select Sector SPDR Fund (NYSE: XLF) up 20.5 percent and Health Care SPDR (ETF) (NYSE: XLV) 21.7 percent year to date, four firms are looking to ride their industries’ 2017 success.

Here are the companies making market debuts in the second-to-last week of the year:

Advantage Insurance Inc. (AVI) will issue 10 million shares between $9 and $11 Wednesday on the New York Stock Exchange. Headquartered in Puerto Rico with offices in the U.S. and Cayman Islands, the specialty insurance company targets high-net-worth individuals with life and business insurance.

Hancock Jaffe Laboratories, Inc. (HJLI) will issue 1.875 shares between $6 and $8 Wednesday on the Nasdaq. Hancock Jaffe develops bioprosthetics, including a venous valve, heart valve and coronary artery bypass graft, for patients with cardiovascular diseases.

Lexin Fintech Holdings Ltd. (LX) issued 12 million shares between $9 and $11 Thursday on the Nasdaq. The four-year-old online microlending platform targets China’s young consumers and reported 3.3 million active users for the first three quarters of the year.

Adial Pharmaceuticals, Inc. (ADIL) delayed its IPO date from last week to Wednesday. The developer of alcohol use disorder treatments will issue 1.4 million shares between $9 and $11 on the Nasdaq.

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