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IPOX® in the News
Earnings season is in full swing, with U.S. banks kicking off the reporting cycle and key IPOX® Index constituents set to follow. Next week will feature major updates from leading firms across the IPOX® 100 U.S., IPOX® Europe, and IPOX® International indexes — including GE Vernova, IBM, Nextracker, MilDef, Porsche, and CATL — offering valuable insight into global sector performance and momentum across IPOX® portfolios.
In a Reuters article on Navan’s planned $6.45 billion U.S. IPO, IPOX® CEO Josef Schuster commented on the impact of the ongoing U.S. government shutdown on IPO sentiment. Schuster noted that while optimism remains, “heightened volatility” and regulatory delays may weigh on demand, urging issuers to remain flexible with offering terms.
In a Reuters feature on how companies are navigating IPO plans during the U.S. government shutdown, IPOX® Research Associate Lukas Muehlbauer explained why biotech firms like MapLight are seizing this favorable market window despite regulatory delays. Muehlbauer noted that MapLight aims to get ahead of the SEC backlog, though the 20-day pricing lock limits flexibility. He added that biotech firms’ urgent funding needs make them prime candidates for this route.
Reuters reports that MapLight Therapeutics is targeting a $704.3 million valuation in its U.S. IPO, reflecting renewed investor appetite for biotech offerings. IPOX® CEO Josef Schuster described the move as “opportunistic”, citing the strong market climate for IPOs and heightened M&A activity in the sector. Schuster added that MapLight’s promising drug candidates and market momentum are likely to attract significant investor interest.
In a recent Reuters article, IPOX® CEO Josef Schuster commented on Cerebras Systems’ decision to withdraw its planned U.S. IPO, following the company’s $1.1 billion funding round. Schuster noted the move was “no surprise” given the recent capital raise, emphasizing it was a strategic decision rather than a reflection of market weakness, adding that U.S. IPO sentiment remains exceptionally strong amid renewed investor enthusiasm for AI-related offerings.
The IPOX® Update
IPO activity accelerates despite the U.S. government shutdown. In the U.S., Medline targets a ~$5B float, PayPay eyes a December listing above $20B, Navan and Beta advance sizable offerings, and Exzeo launches on NYSE. Europe sees CSG and Shawbrook preparing deals, while Asia-Pacific features Seres, WeRide, Rakuten Card, Coca-Cola’s HCCB, and I-Mab’s dual listing. MENA’s Dubizzle opens a ~$600M Dubai IPO. IPOX® CEO Josef Schuster urges flexible terms amid volatility.
Global IPO activity is accelerating across regions, led by biotech and AI firms in the U.S., major industrial listings in Europe, and robotics and infrastructure plays in Asia. MENA markets also see renewed momentum with Dubai and Johannesburg offerings on deck. Commentary from IPOX® CEO Josef Schuster and IPOX® Analyst Lukas Muehlbauer underscores strong investor sentiment and strategic timing as issuers navigate regulatory hurdles and capitalize on market windows.
Global IPO markets are regaining momentum across regions, with billion-dollar deals in the U.S., Europe, Asia, and MENA. Highlights include Verisure’s €3.1B raise in Stockholm, MRI Software’s potential $10B U.S. float, and Ottobock’s €800M Frankfurt listing. Meanwhile, fintech Wealthfront, Navan, and University of Phoenix’s owner have filed in the U.S. Strong demand persists, though risks remain, as IPOX® analysts warn pricing discipline and U.S. government shutdown delays could stall activity.