It's A Lackluster IPO Day For ZTO Express And Myovant

However, after raising the biggest amount this year for a U.S. IPO — to the tune of approximately $1.4 billion — the actual debut was a big disappointment. Despite M Science LLC analyst Henry Guo telling Bloomberg that "there's really no comparable stock in the market," ZTO quickly traded lower than its pricing.

ZTO

• The company priced its 72.1 million shares at $19.50 ADS. This is above the $16.50–$18.50 range.
• Additional 10.815 million shares were granted to the underwriters with a 30-day option.
• The stock opened at $18.40 losing 5.64 percent from the IPO price and subsequently traded between $17.50 and $18.45.

Myovant

• Myovant increased its IPO size to 14.5 million shares at a price of $15.00 a share. Initial price range was $12–$15.
• The stock opened at $15.00 to reach $15.50 before drifting down below the IPO price.
• The stock subsequently traded between $14.35 and $15.50.

At Last Check ...

• Myovant shed 4.2 percent from the IPO price to $14.37.
• ZTO traded down 7.79 percent from the IPO price to $17.98.