2025 IPO Pricing and Performance

IPO - Pricing (16)
Morgan Stanley

Date	Company Name	Sector	Price ($)	Size (M)	1	2	3	Turnover	Gain
						UnderWriters*
Dec 16	trivago N.V.	Technology	11	26	JPM	GS	MS	73.8%	7.7%
Oct 28	Acushnet Holdin	Consumer-Non-Durables	17	19	JPM	MS		35.8%	5.6%
Oct 27	ZTO Express (Ca	Transportation	19.5	72	GS	MS		76.7%	-15%
Oct 20	iRhythm Technol	Health-Care	17	6	JPM	MS	WLFG	95.5%	53.2%
Oct 6	China Online Ed	Consumer-Services	19	2	CS	MS		65.6%	-0.1%
Sep 30	Nutanix Inc.	Technology	16	14	GS	JPM	MS	201.3%	131.3%
Sep 29	Tabula Rasa Hea	Miscellaneous	12	4	MS	UBS	WLFG	82.6%	24%
Sep 23	Valvoline Inc.	Basic-Industries	22	30	BAML	CITI	MS	117.7%	5%
Sep 22	e.l.f. Beauty I	Consumer-Non-Durables	17	8	JPM	MS		163%	55.9%
Jul 22	TPI Composites	Energy	11	6	JPM	MS		51.2%	23.3%
Jun 10			18	7	BRCL	JPM	MS	226.5%	84.9%
May 26	US Foods Holdin	Consumer-Non-Durables	23	4	GS	JPM	MS	648.6%	8.3%
May 19	Grupo Superviel	Finance	11	25	BAML	MS		27.8%	4.5%
Mar 3	Syndax Pharmace	Health-Care	12	4	CITI	MS		43.6%	0.1%
Mar 2	BeiGene Ltd.	Health-Care	24	6	MS	GS	COWN	31.3%	18%
Mar 2	Editas Medicine	Health-Care	16	5	JPM	MS		70.5%	13.8%

* Lead manager or one of top three managers in an underwriting team.